What Are Employment Taxes? – Small Business

Taxes are one of business owner’s taxrelat responsibilities when they hire employees. If ’re a business owner and have employees, are responsible for withholding taxes from r employees every pay period. taxes, aka, payroll taxes, include es, social taxes, Mie taxes, and fel un tax. Some states and local governments may require to withhold state or local taxes.

must collect a W4 form from each employee that hire. Bas on the information from this form, can determine the amount of taxes to duct from employees’ pay checks. These taxes are usually due quarterly or monthly. At the end of every year, must issue a W2 form to each employee to show their gross income and their withholdings. Typically, the term “ taxes” encompasses these series of tax responsibilities of the business owner when they have employees.

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