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Employment Tax Consulting Sioux Falls SD

This page provides useful content and local businesses that can help with your search for Employment Tax Consulting. You will find helpful, informative articles about Employment Tax Consulting, including "Employment Taxes - What are They?". You will also find local businesses that provide the products or services that you are looking for. Please scroll down to find the local resources in Sioux Falls, SD that will answer all of your questions about Employment Tax Consulting.

Hedman , Bryan R. - Moore, Rasmussen, Ka
(605) 336-1730
2415 West 57th Street
Sioux Falls, SD

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H&R Block
(605) 332-8081
4601 E ARROWHEAD PKWY STE 101
SIOUX FALLS, SD

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H&R Block Inside Sears At Rushmore Mall
(605) 399-2114
2200 N MAPLE AVESW Suite 8
RAPID CITY, SD

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Hedman , Bryan R. - Moore, Rasmussen, Ka
(605) 336-1730
2415 West 57th Street
Sioux Falls, SD

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Rayburn Lila CPA
(605) 336-2623
401 S Glendale Ave
Sioux Falls, SD
 
H&R Block
(605) 362-2567
3400 EMPIRE MALL
SIOUX FALLS, SD

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H&R Block
(605) 332-8081
4601 E ARROWHEAD PKWY STE 101
SIOUX FALLS, SD

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H&R Block
(605) 362-2567
3400 EMPIRE MALL
SIOUX FALLS, SD

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H & R Block
(605) 332-0984
2317 W 12th St
Sioux Falls, SD
 
H & R Block
(605) 361-4729
Empire Mall
Sioux Falls, SD
 
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Employment Taxes - What are They?

Employment Taxes - What Are They?

Small business owners often start and run their businesses by themselves. As the business grows, employees are eventually hired to help with the increased work. Of course, the business owner then has to figure out employment taxes.

If you have employees, you are responsible for paying a variety of taxes at the federal, state, and local levels. You must also withhold certain taxes from the paychecks of your employees. So, what are employment taxes?

Employment taxes include the following.

1. Federal income tax withholding

2. Social Security and Medicare taxes

3. Federal unemployment tax (FUTA).

You generally must withhold federal income tax from wages paid to an employee. Form W-4 is used to determine the specific amount, although most payroll services or your accountant will do this for you.

Social security and Medicare taxes pay for benefits that workers and families receive under the Federal Insurance Contributions Act (FICA). Social security tax pays for benefits for the retired, survivors, and disability insurance distribution provisions of FICA. Medicare tax pays for benefits under the medical care provisions of FICA. As an employer, you must withhold a percentage of these taxes from employee and match the withholding amount.

In general, you must deposit these taxes by check or cash to an authorized financial institution, typically your bank. Check with your tax professional to make sure you are not required to use the ...

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