Small Businesses Can Defer Payroll Taxes
Employers are responsible for withholding Social Security and Medicare payroll taxes from their employees’ paychecks and paying these taxes along with the employer’s share to the IRS each month. The Social Security tax is 12.4% total, with 6.2% withheld from the employee’s wages and the employer paying 6.2%. The Medicare tax is 2.9%, with 1.45% […]
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