As a business with employees, you have certain important responsibilities relating to payroll taxes. Understanding of these responsibilities will help you in making certain that you comply with the law. You must calculate payroll taxes and deductions, make payments and report payroll tax to the federal and state tax agents. Here is a summary of […]
Category: Small Business Taxes
Health Saving Account for Small Business Owners
HSA contributions for employees are usually deductible expenses for most businesses. However, HSA contributions made on behalf of Small Business Owners are subject to different rules. Sole proprietors, Partners and 2% shareholders of an S corporation are not eligible for salary reduction (Pre-tax) contributions to an HSA. The owners can establish HSAs and fund their […]
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