tax filing responsibilities for employers

The responsibilities of employers don’t end when the paycheck has been issued; they are also responsible for:

  • Paying the company’s share of payroll taxes. This includes Social Security, Medicare, FUTA, and state unemployment taxes.
  • Depositing the money withheld from the paychecks of their employees.
  • Preparing a number of reconciliation reports.
  • Accounting for the payroll expenses via detailed financial reporting.
  • Filing the payroll tax returns.

For further questions about Phoenix new business accounting, please contact Singer Tax & Accounting, PC today at (602) 482-8006.