2021 U.S. Payroll Tax: What You Need to Know
Payroll taxes are withheld from employees’ paychecks in the U.S., and are matched by their employers, to fund the Social Security and Medicare programs. Also known as FICA taxes in the United States, the employer withholds a percentage of wages, which is calculated differently for the Social Security and Medicare portions of the tax.
Why Your Business Needs Bookkeeping
By Bonnie Lee, on FOX Business
When you own a small business, it is imperative that you keep a good set of books that are consistently and contemporaneously updated. The tax man will not be satisfied with records that were thrown together at the end of a year.
Your 2021 Tax Preparation Checklist
Tax season is officially upon us. Here’s a comprehensive list of the things you’ll need to file your upcoming return.
With the April 18 tax filing deadline rapidly approaching, now’s the time to start going through your documents and getting your paperwork in order. You may be wondering: What do I need to file my tax return? One thing you should know is that regardless of whether you’re filing your own taxes or paying a tax preparer to do them for you, you’re still the one responsible for providing the necessary information to submit a return. Here’s a comprehensive list of the tax prep items you’ll need.