Taxes you pay as an employer depend on the type of business you run. For example, if you own a firm that hires employees to perform services, then you will have to pay federal unemployment tax. Also known as FUTA, this is a Federal income tax imposed on employers who...
If you want to streamline your payroll management even further, explore Hourly payroll software. We simplify payroll by automatically filing payroll taxes and managing workers’ comp costs. Payroll accounting refers to an organization’s record of an employee’s...
However, you’re how to calculate absolute liquid ratio or cash ratio with equations test of liquidity required to withhold taxes on employee pay. There are a lot of factors to consider when it comes to payroll liabilities. Keeping track of them may seem like a complex...
Hopefully you now have a better understanding of payroll liabilities and expenses. To ensure that your business remains profitable, it is essential to keep track of the amount of money that you spend on employees. If you can control payroll liabilities effectively,...
The payroll process involves calculating what is due to the employees for a specific payroll cycle after adjusting the required deductions like employees’ PF contribution, TDS, meal coupons, etc. The payroll cycle is the gap between two salary disbursements of an...