Payroll Taxes For Business Owners - The Ultimate Cheat Sheet

Do you know your obligation as a business owner with payroll tax?
Any business with employees must withhold payroll taxes from their employees.
If you’re thinking… “But what the heck does that even mean?”
Don’t worry, I’ve got you covered!
This video is everything you need to know about payroll taxes for business owners.
I’m going to break down 3 key parts to payroll tax:
💰What is payroll tax?
💰How do payroll taxes work?
💰Owner vs. employee payroll taxes
Every week I provide tax tips and strategies to help you keep the most of your money from your business. So go ahead and browse the tax strategy videos I already have up and, after you subscribe, hit that bell icon so you don’t miss any future money-making tax strategies.
🆓 Download FREE PDF: 7 Write-Offs Every S-Corporation Business Owner MUST Know: bit.ly/downloa...
☎️ Schedule your FREE Tax Advisory Session - www.TaxPlannin...
👉 Make sure you SUBSCRIBE so you do not miss out on future tax-saving tips and strategies - bit.ly/3AXHUtM
🤑 Gusto Payroll Software - gusto.com/r/bo...
P.S. When you sign up for Gusto, you get a $100 visa gift card
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*Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are advised to consult with your own attorney, accountant, tax preparer, and/or other advisor regarding your specific situation or your client’s specific situation. The information and all accompanying material are for your use and convenience only.

[@borismusheyevcpa]

Hey Everyone, Boris here. Make sure you check out these links.
🆓 Download FREE PDF: 7 Write-Offs Every S-Corporation Business Owner MUST Know: bit.ly/download7TaxWriteOffs
☎ Schedule your FREE Tax Advisory Session - www.TaxPlanningCall.com
👉 Make sure you SUBSCRIBE so you do not miss out on future tax-saving tips and strategies - bit.ly/3AXHUtM
🤑 Gusto Payroll Software - gusto.com/r/boris466
P.S. When you sign up for Gusto, you get a $100 visa gift card

[@zenok5]

thank you. great info.

[@FunnyVideosLover]

Good info bro

[@borismusheyevcpa]

Glad you liked it! Is there a topic you'd like to see more of?

[@JtotheRizzo]

Thanks for this informative video. As a Single Member of all my LLCs, I was always told to hold my operating LLCs with Passive activity and keep it as a Disregarded Entity and hold all my Active activity LLCs Taxed as an S-Corp. Then have my Wyoming LLC Holding Co (this entity only holds entities and does NOT hold Title to any property), to be the sole Single managing member of all my operating entites. This WY LLC Holding Co is best to be a S-corp and will be the entity that will file taxes, run payroll, pay expenses. All the income/expenses (profit/losses) from the Operating LLCs will roll up (passed-through) to the WY LLC. Is this a good way to structure my entities on a tax basis?

[@lizjover4728]

I have a S Corp. I live in Katy TX. Where can I find a Tax Adviser?

[@gimmekimmy]

are the employer portion of the payroll taxes tax deductible?

[@headlibrarian1996]

Is the Gusto rebate taxable, or does it reduce your deduction for paying Gusto?
Also, can employer assume their employees make no other income than their salary when figuring income tax withholding? For example, if a person works two jobs the second one (doesn't matter which) will not have withheld enough at the end of the year. Is the employer at risk for a penalty in this case or is it the obligation of the employee to cover this by making estimated tax payments or increasing their withholding amount?

[@jasong9472]

thanks....

[@amitbanerjee7754]

Very good explanation! Taxes are a completely different language! Thank you!

[@borismusheyevcpa]

Thank you Amit - I'm glad you found it helpful!

[@AdamPaulTalks]

Hey your link for the call isn’t working!

[@borismusheyevcpa]

Here it is again: www.taxplanningcall.com

[@AdamPaulTalks]

@@borismusheyevcpa does the website work for you? Because it doesn’t for me.

[@tonymedrano40able]

Is this for a scorp?

[@borismusheyevcpa]

For all entities not just scorps

[@negmawon612]

What’s your number Boris?

[@borismusheyevcpa]

Hey! You can book your call for a free tax advisory session here: www.taxplanningcall.com/
Looking forward to it!