What is payroll tax? You probably ask yourself this question when your paycheck amount is less than you expected. Simply put, payroll taxes refer to taxes employers and employees pay to fund government programs.
Now, as a small business owner, you have to perform the crucial task of putting together pay stubs and summarizing the payroll withholdings correctly. If you find these concepts difficult, read on to learn about payroll taxes, including what they are and your obligations as a small business owner to pay them.