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As accountants and CPAs, dealing with payrolltaxes is essential to managing finances for your business clients. Understanding the details of payrolltaxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. Filing tax returns and remitting payments on time.
This changing employment landscape requires employers to reassess their payrolltax withholding processes to ensure you are withholding the proper amount of state, local and unemployment taxes from your employees’ wages. Below we dive into the state and unemployment tax responsibilities employers need to know.
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The fourth, Senate Minority Leader Mitch McConnell, R-Kentucky, has not. “Of The Windfall Elimination Provision reduces Social Security benefits by up to half the pension amount for people receiving pension income from jobs that didn’t contribute Social Security payrolltaxes. Of the four corners, three of them are covered.
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