Taxpayers will need to calculate for themselves how much they can subtract from their 2025 taxable income using the new ...

Here's everything small-business owners need to know about payroll deductions, including which ones are required by law. Many, or all, of the products featured on this page are from our advertising ...

No businessperson wants to get a message from an employee or the Internal Revenue Service saying that payroll taxes were calculated incorrectly. Payroll deductions are usually figured using a computer ...

Business News Daily provides resources, advice and product reviews to drive business growth. Our mission is to equip business owners with the knowledge and confidence to make informed decisions. As ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

Social Security withholding is a payroll tax that makes up part of the umbrella FICA deduction withheld from employee paychecks. The other component is the Medicare tax. FICA stands for the Federal ...

Of your many responsibilities as a small business owner, ensuring that your employees’ pay is calculated accurately ranks near the top of the list. That includes withholding the correct amounts for ...

Subtract standard deduction and pre-tax contributions to determine taxable income. Use tax tables to estimate federal tax; add state, Social Security, and Medicare taxes. After taxes, subtract ...

Payroll refers to a list of employees paid by a company. The term encompasses both the process of paying employees, and a specific list of a company’s employees that shows who is entitled to receive ...