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Posted @ 3/10/2010 6:03 PM By MBAHRO
Employer Payroll Taxes – How to stay out of trouble
Many growing companies have questions like, “How do employer payroll taxes work?” At Modern Business Associates, many of our small clients come onboard with our payroll processing to let us handle their entire payroll processing burden, which includes payroll taxes. Our systems are set up to ensure your business does not get into trouble by missing withholdings or taking the wrong amounts.
As background, you should know that employer payroll taxes are the state and federal taxes that you, as an employer, are required to withhold and/or to pay on behalf of your employees.
After having each new employee complete their IRS form W-4, we’ll use this information to calculate the amount of federal income tax to withhold from the employee’s wages. Most all of the states have income tax structures that are based on the federal blueprint, so you will use the same W-4 to calculate the amount of state income tax to withhold as well.
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