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Payroll taxes, though not typically the first concern for entrepreneurs, are crucial for small business owners to understand. These taxes, which fund programs like Social Security and Medicare, are deducted from employees’ paychecks, with contributions from both the employee and employer. This article from The Ascent provides a comprehensive overview of payroll taxes, including how they are calculated, the implications of failing to pay them on time and practical tips for managing them effectively within a small business setting.
By Rebecca Meiser
Contributor, Commerce + Communities Today and Small Business Center
ICSC champions small and emerging businesses in getting from business plan to brick-and-mortar.
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