Payroll accounting is the specific accounting discipline concerned with calculating and disbursing compensation for company employees. Small business owners can find themselves responsible for a wide ...

Employers routinely withhold income and employment taxes from their employees' pay and then deposit the withheld taxes on behalf of their employees. If they fail to do so, a "responsible person" at ...

Payroll accounting includes paying employee wages, maintaining payroll records for each employee, paying and filing payroll taxes and complying with federal and state payroll laws. An employee's gross ...

Completing year-end tax reporting is critical for employers, as it ensures compliance with federal and state regulations, ...

Payroll taxes are deducted from an employee’s paycheck specifically for Social Security, Medicare, and unemployment. Confusion about FICA vs FUTA arises because both are similarly named types of ...

President Trump issued a presidential memorandum on Aug. 8, 2020, directing the Secretary of the Treasury to permit employers to defer the employee portion of Social Security taxes between Sept. 1 and ...

Congress passed programs to provide financial assistance to companies during the COVID-19 pandemic, including the employee retention credit (ERC). The ERC provides eligible employers with credits per ...