subject: What Do Payroll Taxes Mean? [print this page] Whenever you are running a business, you are going to have to pay out a lot of taxes to a variety of different sources. You may not know everything that you need to about all of the taxes that you are going to have to pay, but it is a good idea to do some research to learn more. Since you have taken that first step by reading this article, you are already ahead of the game.
One of the types of taxes that many people are interested in learning more about is what is called payroll taxes. These are taxes that the company is required to charge to each employee on their payroll. That is to say that the employee is the one who bears the burden of paying this tax. The employer is required by law to withhold certain taxes from their employee's paychecks. This is to cover things such as income tax and Medicare/social security. All of those taxes must be withheld by the employer and sent in to the federal government.
You are going to find that the amount that must be withheld from each employee depends on how much that employee earns and other factors that can play a role. It is important as a business owner that you are looking up the rules that govern payroll taxes. You can find information about specific payroll taxes questions on official government websites. There is also information that is given out by other individuals on the web in many cases. You are welcome to use this advice, but you should be warned that it might not be accurate. Anyone with a computer is able to post whatever they want on any subject. This is why it is so important that you make sure that you are only getting your information from official sources. This is the safest way to make sure you have all of the facts about payroll taxes.
Any kind of tax is not something that we want to pay. Unfortunately in this case, you have to in order to follow the law.
