Remove 2021 Remove payroll tax Remove small business accounting
article thumbnail

US Payroll Taxes Explained (Everything You Need to Know)

LyfeAccounting

?. Today, we’re going to be deep-diving into US payroll taxes. And after helping hundreds of businesses with their accounting and taxes, we know a thing or two about it. Note that for guidance or advice specific to your business, you should consult with a tax or legal professional. Social Security.

article thumbnail

PPP Loan 2021 – FAQ & How To Get Approved + Forgiven

LyfeAccounting

Note that you will want to speak to your accountant or lawyer for specific advice regarding your specific situation. aka PPP loan 2021. PPP Loan 2021 Most Commonly Asked Questions (And Our Answers!). You had paid salaries and payroll taxes or paid independent contractors. PPP Loan 2021: Quick Recap.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Do Small Businesses Get Tax Refunds?

MazumaBusinessAccounting

In 2021, the average tax refund was $3,039. Small potatoes? New small business owners may be hopeful for a tax refund, a small gift to invest back into their operations. Not all types of small businesses can receive tax refunds, however. Do small businesses get tax refunds?

Tax 52
article thumbnail

Do Small Businesses Get Tax Refunds?

MazumaBusinessAccounting

In 2021, the average tax refund was $3,039. Small potatoes? New small business owners may be hopeful for a tax refund, a small gift to invest back into their operations. Not all types of small businesses can receive tax refunds, however. Do small businesses get tax refunds?

Tax 52
article thumbnail

New SBA PPP Loan Forgiveness Portal | Apply for Forgiveness Easier

LyfeAccounting

And considering the forgiveness process is already difficult as it is… …having this portal option is awesome news and will help millions of businesses to get back to what they do best and that’s running their businesses. . Payroll tax filings. State quarterly business and individual employee wage reporting.

payroll 52
article thumbnail

Self-Employment Taxes for Small Business Explained

LyfeAccounting

But when you are self-employed, you are responsible for 100% of the self-employment taxes – the entire 15.3%. Note that every dollar earned is subject to Medicare taxes, but for 2021, the Social Security portion of the tax maxes out at $142,800 of earnings. Other Taxes To Keep In Mind When Self Employed.

Tax 52