💲 Payroll taxes for small businesses

Tax Season Stress? Unlock the Secrets to Small Business Payroll Taxes [Image]( Expert Insights on HR April 10, 2024   Processing payroll, even if it’s just for yourself, can be complicated. You have to be mindful of many things, such as taxation and payroll compliances. If you’re new to self-employed payroll or want tips to help make things a bit easier, below are some best practices you can follow. April 15 is the deadline for filing 2023 federal income tax returns. However, there are some exceptions to this, specifically for tax filers located in: Maine and Massachusetts: With these states’ holiday observance of Patriots’ Day and Emancipation Day, the deadline has been moved to April 17, 2024. States that have been declared as disaster areas: The Internal Revenue Service (IRS) has extended the deadline for states federally declared as disaster areas. [Check this list]( to see if your state is included. - Jennifer Soper, Robie Ann Ferrer and Genevieve Que - [Federal & State Payroll Tax Rates for Employers]( - [Payroll Compliance: Important Payroll Laws to Know]( - [How To Fill Out a W-2 Form: Everything Employers Need To Know](   [Federal & State Payroll Tax Rates for Employers]( [Federal & State Payroll Tax Rates for Employers]( Paying your payroll taxes correctly and on time is an important part of becoming a successful employer, but it can become challenging as you grow. Tax rates change from year to year, especially state payroll tax rates, and you must keep track of them to accurately calculate your business and your employees’ tax obligations.   [Payroll Compliance: Important Payroll Laws to Know]( [Payroll Compliance: Important Payroll Laws to Know]( Payroll compliance refers to the legal obligation businesses have to adhere to local, state, and federal laws related to employee compensation. It’s not just about paying your employees on time, but also ensuring that you’re withholding the correct amounts for taxes, providing the right benefits, and complying with labor laws.   [How To Fill Out a W-2 Form: Everything Employers Need To Know]( [How To Fill Out a W-2 Form: Everything Employers Need To Know]( Employees use Form W-2 to report payroll taxes paid for the previous tax year. As an employer, you’re required to provide the Form W-2s to employees and submit it to the IRS and tax agencies on or before January 31 of the year following the previous tax year.   Based on Your Latest Reads   [6 Steps on How to Hire Employees]( Learn how to hire employees by creating strong job descriptions, advertising, evaluating resumes, and interviewing candidates. [Gusto vs Justworks: What We Recommend & Why]( In our Gusto vs Justworks guide, we looked at both software’s pricing, features, and ease of use to help you find which is right for you. [IRS Form 1099 Reporting for Small Businesses]( Businesses are required to send copies of Form 1099-NEC to the IRS and contractors if they pay $600 or more in compensation. Did you know? 🤔 There's more beyond the newsletter? Follow us on social media to stay informed on exclusive insights, resources, and sneak peeks into the latest trends in HR! [Facebook]( [Instagram]( [Pinterest]( [LinkedIn]( [YouTube](   Latest in HR   [9 Best Payroll Services for Small Businesses]( If you need help managing payroll and taxes, our guide has nine of our recommendations for the best payroll services for small businesses.   [How to Choose a Payroll Service for Your Business]( Learn how to choose a payroll service in our in-depth guide and download our free step-by-step checklist.   [Paycom Review: Features, Pricing, and Alternatives]( Paycom offers an HR platform that simplifies all aspects of the employee lifecycle. Read our Paycom review to gauge if it fits your needs. More FSB Resources   More Than A Newsletter   Written by Jennifer Soper, Robie Ann Ferrer and Genevieve Que About Fit Small Business HR Newsletter: Providing you with newsworthy tips, tricks, and informational deep dives on all HR and Payroll topics relevant to small business owners. Delivered to your inbox every Wednesday. [Sign up today]( Visit the [Subscription Center]( to get other free newsletters, manage your account settings or to be removed from Fit Small Business communications. 0[Unsubscribe]( | [Terms of Use]( | [Privacy Policy]( © 2024 TechnologyAdvice, LLC. All rights reserved. This is a marketing email from TechnologyAdvice, 3343 Perimeter Hill Dr., Suite 100, Nashville, TN 37211, USA. Please do not reply to this message. To contact us, please [click here](.