Welcome to Payroll Taxes Guide
How To Calculate Quarterly Payroll Taxes Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
You may also listen to this article by using the following controls.
The Importance of Paying Employer Payroll Taxes
from:Are you planning on starting your own business? If so, it is good to find things out about the business beforehand so that you don’t make any costly rookie mistakes. After all, some people who start fresh often lose their businesses if they don’t handle things properly. Some even end up paying hefty fines and going to jail over their mistakes. To make sure this doesn’t happen to you, you should learn as much as possible.
One of the things that you need to know very well is the taxes that you’ll need to pay. For example, most new business owners don’t realize that they will have to pay some of the payroll taxes. They assume that it all just gets taken out of their employee’s paychecks. Well, that’s wrong. In reality, your company is responsible for paying half of the FICA taxes. If you don’t you could be in quite a bit of trouble. These are the employer payroll taxes that you must pay in order to be a legally sound company.
The FICA taxes are very specific. It is the employer payroll taxes for both social security and Medicare. When it comes to social security, you are allowed to withhold 6.2% of your employees’ earning. That portion will go toward paying that tax. Then it is up to you to pay an additional 6.2%. Essentially, that means that both you and the employee are taking equal responsibility in paying that tax. Then, with Medicare, you each pay 1.45% separately. In other words, your portion of the FICA employer payroll taxes will equal 7.65%. This is what your company is responsible for when it comes to all of your employees. You need to do this for each of them.
How much of the employer payroll taxes have a lot to do with how much you pay your employees and how many employees you have to begin with. The bigger your company is, the more you will pay in these taxes. This is necessary and a good thing for your company.
To make sure that you are paying the right money in employer payroll taxes and that you are taking the right amount of taxes out of your employees’ checks, you should use a combination of software programs and accountants. This is especially the case when you have a large company that has many employees. The more employees you have, the more likely you are to make a mistake with the calculations in regards to taxes. Since this can cause a lot of problems, it’s better to get them right the first time.
How To Calculate Quarterly Payroll Taxes Specific Links
Watch Free Videos At Mevio!
- Tons of Free Videos, Only At Mevio.com
-- http://www.mevio.com/
The Best in Fine Living
- Lifes best is one click away.
-- http://www.justluxe.com/
Get Hired
- Earn more money with a better job now
-- http://www.hotjobs.com/
My Best Friend is My Penis: Ep 3
- Jon learns the hard way that sometimes three's a crowd. Watch the third episode on Atom.com
-- http://www.atom.com/
Free Tech and Gadget Reviews!
- Watch GeekBrief With Cali Lewis on Mevio!
-- http://www.geekbrief.mevio.com/
How To Calculate Quarterly Payroll Taxes News
Laptop City Hall: Budget live blog -- Day Two - Wisconsin State Journal
2:05 a.m.: LET'S VOTE! There's Perkins breakfast to be had, people. The operating budget passes 16-4 , and nobody in city government has Thursday night plans anymore, so call them to hang out so they have something to do with themselves (besides hang ...
Read more...1992 Republican Party Platform - CNN
Abraham Lincoln, our first Republican president, expressed the philosophy that inspires Republicans to this day: "The legitimate object of government is to do for a community of people whatever they need to have done, but cannot do at all, or cannot ...
Read more...The Numbers - ABC News Blogs
Gary Langer is director of polling at ABC News, where he's covered the beat of public opinion for nearly 20 years - conducting and analyzing ABC News polls, evaluating data from other sources and setting the news division's standards for poll ...
Read more...Livingston International Income Fund maintains course in the face of ... - CNW Group
TORONTO, Nov. 6 /CNW/ - Livingston International Income Fund (TSX: LIV.UN), Canada's largest customs broker and a leading North American provider of customs brokerage, transportation and integrated logistics services, today announced solid results ...
Read more...AFLAC Inc. Q3 2008 Earnings Conference Call Transcript - Seekingalpha.com
Good morning and thank you for standing by. At this time, all participants are in listen-only. After the presentation we will conduct a question and answer session. [Operator Instructions]. I would like to inform all participants that your call is ...
Read more...