Q. I received a bonus check and the amount that was on the paystub was $500 less than what the bonus came out to. When asking the owner he stated that money was used to pay for the employer’s share of the taxes. On top of that, they took out taxes for my portion as [...]
Q. I will be hiring my first employees later this year. Should I do payroll myself or use a payroll company? A. This question has been asked by companies ranging in size from the single employee shop to the multi-national corporation. The trick is, how much are you willing to pay, or how much time [...]
Q. Where do I send FICA, Medicare, taxes? A. If you are an employer, FICA, Medicare and Federal withholding taxes should be deposited according to the schedule assigned by the IRS to your company. Very small employers can deposit and report these withholding amounts on Form 944 annually. The other deposit requirements are Monthly, Semi-weekly [...]
