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QuickBooks Payroll

 

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Payroll is the total amount of money paid by a business to its employees over a set amount of time.

 

What is Payroll?

As an employer, you have to pay your employees. You therefore have specific payroll responsibilities that are required by government agencies. These agencies can be federal, state or local. Some of these responsibilities include, but are not limited to, withholding amounts from your employees' compensation to cover income tax, social security, Medicare, and other payments. Consult with a tax professional or accountant to address all of your business' specific needs.

What Are Payroll Taxes?

It is a tax levied by a government agency on employees' wages, tips, and other compensation. The amounts withheld by employers from employees' pay for federal income, social security, and Medicare taxes are considered as trust fund taxes. Amounts withheld for state and local income taxes are held in trust for the state or local government.

What are my Responsibilities

Reporting and depositing payroll taxes to the appropriate agency in an accurate and timely manner is vital to your business. Late or inaccurate deposits may result in penalties and interest charges. These complex payroll tax requirements may seem intimidating but by learning a few simple concepts, you will be able to understand your payroll responsibilities and choose the best method for meeting them.

Why Intuit Payroll Online?

Intuit Payroll Online helps you manage the complexities of paying your employees. Furthermore, Intuit Payroll:

  • Is web based, so there is no software to download or install
  • Helps you manage your payroll step by step
  • Helps you do Payroll easily, & efficiently so that you can focus on your business
  • Reduces the natural stress that you may have when it comes to ensuring correct a) payment of employees and b) withholding taxes. 
  • Seamlessly allows record keeping of payments
  • Enables ease or reporting to the various agencies. 
  • Creates paychecks online in minutes
  • Produces W2s and Direct Deposits

And of course, free live support from the experts. 

 

 

 

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