What If: I'm a Payroll First-timer?

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Payroll and ...

Very helpful article. Please also mention that Worker's Comp and Disability policies need to be in place as well!

Catherine Burnett 195 days ago

Items Left Out of Article

The article is very good, as far as it goes, however, the article left out a lot of important information. In many states, there are additional "taxes" that must be paid - such as SDI (State Disability Insurance) and others, that are paid by either the employer, or the employee, but many times by both the employee and the employer. There may be additional taxes (paid to local cities and/or counties) as well (again paid by employer and/or employee). These "additional taxes" vary from state to state, but are vitally important to be aware of. Failure to take these payroll taxes into consideration can be extremely costly to both the employer and the payroll processor.

Kenneth Reid 197 days ago

Thanks for mentioning those...

I think we eluded to the fact that payroll processors needed to check with their state taxing and revenue authorities about other taxes that may apply.

I would also note that in some jurisdictions there maybe county and even city taxes that may apply, and those processing payroll need to be aware of those as well.

Unfortunately, our articles can't be all encompassing for all states and jurisdictions. Remember it took us an entire year, a 50-part series, to address 'sales and use tax' on a state by state basis.

Once again, thanks for your comments, and thanks for reading Insightful Accountant.

insightfulaccountant.com 197 days ago

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