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In 1976, the Federal Government added a 0.2% surtax on the then 6% FUTA tax rate, or Federal Unemployment tax, that was created to repay loans made to cover the high demand on unemployment insurance and thus the resulting shortfall in funding. The demand on funding was due to high unemployment in the early 70′s.…

New business owners that haven’t had to fiddle with payroll taxes before will frequently ask me “What are Payroll Taxes and how much will my payroll taxes be”? This is a reasonable question and I will try to lay it out here. What are Payroll Taxes? Payroll taxes are the Federal, State, and sometimes local…

Professional payroll companies should, at the very least, be competent in processing your payroll and payroll taxes promptly and accurately. After all, payroll tax laws are complex and constantly in flux — that’s why you’re hiring someone to get the job done right! But the service experience shouldn’t end there. Here’s our checklist for you,…

Payroll Tax Impounding may sound ominous, but it’s actually very useful for keeping your payroll tax responsibilities on-track. What is Payroll Tax Impounding? Payroll Tax Impounding is when your payroll tax liabilities are automatically deducted for each paycheck. Your payroll provider will then submit your tax payments to the appropriate government entity when they are…

Small and independent payroll providers offer many benefits over the big nationwide payroll companies, giving small businesses better service for a better value. Once you’ve decide to go with a small, local payroll provider, how do you know they’re trustworthy? Take a look at our list of tips to make sure that you’re dealing with…

1. Have the Payroll Company Do Your Deposits and Tax Filings This why you hire a payroll company… to avoid tax compliance issues and get solid payroll advice. If you are in New Jersey there are 13 different payroll taxes to contend with. Hire an expert and get the best payroll options for small business.…