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Tag Archive for Local Income Tax

6 Payroll Basics Every Small Business Owner Should Know For Tax Filing

Small businesses with employees must withhold some of every employee’s paycheck to pay taxes to the government. At the top of the list are federal, state and local income taxes. Plus, the employer is also responsible for federal and state unemployment taxes, and their share of FICA taxes.

Additional taxes include the employee’s share of Social Security and Medicare taxes that make up the FICA contributions.

Now, a payroll provider could handle this withholding for you. This way, you never forget to withhold the correct amount from employee paychecks. Read more