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Articles Posted in “payroll tax”

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Payroll Withholding Tax Basics for Both Employers and Employees

    Requirements regarding withholding payroll taxes are something that every business owner should be familiar with, particularly businesses which handle their own payroll internally (as opposed to outsourcing to a payroll company). Employers are almost always required to withhold taxes from employees’ salaries, wages, and other compensation, such as…

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Employee or Independent Contractor? New Jersey Business Taxpayers Can Correct the Misclassification of Workers with Minimal Tax Liability

Businesses with any New Jersey employees are responsible for withholding and paying income taxes, Medicare taxes, and Social Security, and paying payroll taxes on wages paid to their employees. However, in general, the same businesses do not have to do so when hiring independent contractors. Therefore, it may be tempting…

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