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Posts Tagged payroll unemployment taxes

So You think Handling Your Own Payroll is Easy?

As if payroll itself wasn’t complicated enough, there are IRS reporting deadlines and deposit schedules to comply with as well. And, to make things ever more interesting, it can change depending on how your payroll changes through the year. How can a small business owner keep up with it all? (more…)

Posted in: IRS and Tax forms, Payroll, Rules, Regulations and Laws

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Small Business Take a Stand to Reduce FUTA Payroll Tax Cost

Our payroll services clients – and all the business owners in Indiana – are paying more than the norm according to the Federal Unemployment Tax Act (FUTA). In fact, as was explained in an earlier post, this year businesses will pay 2.1% of the first $7,000 EACH employee earns. The norm is approximately .6%!

What is the difference in your payroll expense? (more…)

Posted in: Payroll, Payroll Taxes, Rules, Regulations and Laws

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Payroll Taxes on the Rise in Credit Reduction State

Even though the state of Indiana has been designated one of the best states for business regarding taxes, one area that doesn’t play out is with the FUTA. That’s the Federal Unemployment Tax Act. Employers pay a tax on employees’ wages to cover the state’s unemployment insurance program.

Indiana is one of several states in the position of having an outstanding loan to the federal government.  In fact, according to the Congressional Research Service report dated Sept. 20, 2012, Indiana owed the federal government $1,994,007,775.40. And that means the state is designated a FUTA Credit Reduction State. (more…)

Posted in: Payroll, Payroll Taxes, Rules, Regulations and Laws

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Entrepreneurs Stay Serious about Payroll Taxes

When it comes to payroll, and payroll taxes, business owners have a lot of questions:

  • Who’s actually responsible for payroll taxes being paid?
  • I have a payroll provider, but how do I know taxes are being paid on my behalf – in full and on time?
  • If the taxes don’t get paid, who does the IRS come looking for?
  • Is there any legal recourse if the taxes haven’t been paid? Is the government lenient in these situations? (more…)

Posted in: Operating a Small Business, Payroll, Payroll Processing, Payroll Taxes, Rules, Regulations and Laws

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Payroll Provider Explains Unemployment Taxes

Just about every worker counts on it and almost every employer has paid it, but few understand it. What’s that? Unemployment taxes. Who pays it and how? Once you see how it works, it makes sense. The Payroll Department thinks it’s time everyone got an easy-to-understand explanation.

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Posted in: Payroll, Payroll Processing, Payroll Taxes, Rules, Regulations and Laws

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