As a small business owner, hiring your first employee means that it's time to implement a payroll process.

The Federal Insurance Contributions Act (FICA) is a federal law that requires employers to withhold three different types of employment taxes from their employees’ paychecks.

Managing payroll is often a task small business owners aren’t prepared to handle when opening their doors.

Whether you get to choose your payroll schedule or the state decides for you, you’ll want to fully understand how the pay period will work for your business and employees.

When setting up payroll for your small business the first time, it’s common to feel overwhelmed and make some mistakes.

If you plan on a DIY payroll approach, you’ll need the 4-1-1 on payroll taxes.

While many payroll and tax mistakes do have a fix and you can get help resolving any errors, some of these mistakes can be costly so you’ll want to try to avoid as many as possible early on.

As a small business owner, you likely spend quite a bit of time number-crunching. Sometimes, that task can get overwhelming.

On the surface, running payroll may sound like a simple task: you put in your employees’ hours and rate or weekly salary, calculate the amount for that payroll, and pay them, right?

While applying for an extension may be an option, you will want to be fully aware of the process, and advantages and disadvantages, before doing so.

Did you know that there are many tax deductions available to small business owners?

It’s a new year, which means new tax changes.

Before you leave the decade behind, here are a few things to keep in mind as you close out your payroll for the year.

Taxes. Your favorite subject right? 

When running a small business, it’s important to understand what bank holiday and how it can affect your business.

When it comes to payroll, there are a lot of high stakes in play including tax compliance, employee trust, and payroll fraud. 

As a business owner, there’s no shortage of tax forms to familiarize yourself with.

Even though the Tax Cuts and Jobs Act was rolled out more than a year ago, several of the revisions went into effect in 2019 and will affect many taxpayers 2020 returns.

Whether an employee takes another job, or you terminate their employment, there will likely come a time in your small business journey that you have to deliver a final paycheck.

When choosing to employ independent contractors, it’s important to note that there are payroll and tax requirements that differ from full-time employees.