Payroll Taxes Archives - Patriot Software Tue, 18 Oct 2022 20:37:21 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.2 https://www.patriotsoftware.com/wp-content/uploads/2020/01/cropped-site-favicon-32x32.png Payroll Taxes Archives - Patriot Software 32 32 What Is a Taxpayer Identification Number? https://www.patriotsoftware.com/blog/payroll/what-is-a-taxpayer-identification-number-tin/ Mon, 17 Oct 2022 14:42:00 +0000 https://pslohio.wpengine.com/uncategorized/what-is-a-taxpayer-identification-number-tin/ alt=""When you have a business, you need a way to identify it. That way, you can submit payroll forms or tax returns, open a business bank account, establish a retirement plan, and more. So, how do you identify your business? You need a taxpayer identification number (TIN). Read on to learn what is a taxpayer […]]]> Who Pays Unemployment Tax? https://www.patriotsoftware.com/blog/payroll/who-pays-unemployment-tax/ Mon, 17 Oct 2022 14:29:17 +0000 https://pslohio.wpengine.com/uncategorized/who-pays-unemployment-tax/ alt=""When an employee becomes unemployed, they might qualify to receive unemployment benefits. Unemployment benefits are funded by unemployment taxes, which are paid based on employee wages. But who pays unemployment tax? You or your employees? Types of unemployment taxes Before you can learn who pays unemployment taxes, you need to know about the two types […]]]> How to Withhold Taxes on Tips https://www.patriotsoftware.com/blog/payroll/report-tip-income-withhold-taxes/ Fri, 14 Oct 2022 17:52:00 +0000 https://pslohio.wpengine.com/uncategorized/report-tip-income-withhold-taxes/ alt=""If your employees receive tips, it is important to remember that tip income is taxable. Employees must report all tips they receive, and you must withhold payroll taxes on tips. Taxes on reported tips Employees can receive tips directly from customers, from tips charged to credit cards, or from tip pooling agreements. If an employee […]]]> Are Reimbursements Taxable? https://www.patriotsoftware.com/blog/payroll/are-reimbursements-taxable-employee-expense-irs-guidelines/ Fri, 14 Oct 2022 15:10:16 +0000 https://pslohio.wpengine.com/uncategorized/are-reimbursements-taxable-employee-expense-irs-guidelines/ alt=""Sometimes, an employee might pay for a business expense out of their own pocket. When that happens, you can reimburse the employee. An employee expense reimbursement does come with some complications. Are reimbursements taxable? Do you need to report the reimbursement? Find out below.   What are expense reimbursements? Reimbursements are a way for you […]]]> The Payroll Compliance Checklist You Need to Use https://www.patriotsoftware.com/blog/payroll/payroll-compliance-checklist/ Fri, 14 Oct 2022 15:01:31 +0000 https://pslohio.wpengine.com/uncategorized/payroll-compliance-checklist/ alt=""Payroll compliance isn’t a once-per-year task you can easily check off. Remaining compliant is a big job. You must make sure your business is compliant with all payroll laws year-round. You can make payroll compliance easier and less stressful by doing tasks throughout the year. In fact, there are some tasks, like filing taxes, that […]]]> A Breakdown of the Colorado Occupational Privilege Taxes https://www.patriotsoftware.com/blog/payroll/occupational-privilege-tax-opt-colorado/ Thu, 13 Oct 2022 19:51:51 +0000 https://pslohio.wpengine.com/uncategorized/occupational-privilege-tax-opt-colorado/ alt=""A handful of cities in Colorado have a local tax called an occupational privilege tax. Both employees and employers owe it. If you’re an employer in Colorado, it’s important to know if you owe the occupational privilege tax and what your city requirements are. What is occupational privilege tax? Occupational privilege taxes (OPT) in Colorado […]]]> Answers to 18 Payroll Questions You Are Dying to Ask https://www.patriotsoftware.com/blog/payroll/payroll-questions-answers-faqs-questions/ Thu, 13 Oct 2022 19:20:50 +0000 https://pslohio.wpengine.com/uncategorized/payroll-questions-answers-faqs-questions/ alt=""For some business owners, running payroll might be like learning a foreign language. You are a master of your business idea, not the administrative responsibilities that come with it. Because you might not be familiar with these responsibilities, you might have some payroll questions. Payroll questions and answers When you become an employer, you need […]]]> The Lowdown on New York’s ECEP Tax https://www.patriotsoftware.com/blog/payroll/ecep-tax-new-york-state/ Thu, 13 Oct 2022 16:04:17 +0000 https://pslohio.wpengine.com/uncategorized/ecep-tax-new-york-state/ alt=""If you’re an employer in the state of New York, you may have heard of the Employer Compensation Expense Tax (ECET) that started in 2019. But, did you know that the ECET, established by the Employer Compensation Expense Program (ECEP), is optional? Although you aren’t required to pay the ECET, you may choose to do […]]]> Do I Have to Pay Self-Employment Tax? https://www.patriotsoftware.com/blog/payroll/pay-self-employment-tax/ Wed, 12 Oct 2022 17:47:58 +0000 https://pslohio.wpengine.com/uncategorized/pay-self-employment-tax/ alt=""Self-employment is part of the American dream for many. To do what you love and get paid for it can be incredibly rewarding if handled properly. However, one of the factors that needs to be considered is self-employment tax — which is a necessary evil when you are doing what you love! Benjamin Franklin, whose […]]]> Do Nonprofits Pay Payroll Taxes? https://www.patriotsoftware.com/blog/payroll/do-nonprofits-pay-payroll-taxes/ Wed, 12 Oct 2022 14:53:59 +0000 https://pslohio.wpengine.com/uncategorized/do-nonprofits-pay-payroll-taxes/ alt=""Businesses can be categorized as nonprofits or for-profits. When it comes to payroll taxes, for-profit businesses have it pretty straightforward. For-profits pay payroll taxes. But for some nonprofit organizations, it’s not as simple. Do nonprofits pay payroll taxes? Do nonprofits pay payroll taxes? Payroll taxes are amounts withheld from your employees’ wages and paid to […]]]>