If you hire a household employee to provide services in or around your home, you probably have a tax liability that you don’t know about. Or one that you do know about but are ignoring. Either situation can come back to bite you. When the worker is your employee, your liability includes both withholding and …
Paycheck
New Mandated Payroll Tax to Pay for Long Term Care Benefits in Washington State
Long term care benefits are soon to be funded, in part, by a payroll tax in Washington state. The Long-Term Services and Supports Trust Program (LTSS Program), now called the WA Cares Fund, is designed to help pay for long-term care of Washington residents. To summarize: Starting January 1, 2022, a 0.58% premium assessment will …
New Mandated Payroll Tax to Pay for Long Term Care Benefits in Washington StateRead More
Employers Can Defer Payroll Taxes
One of the benefits included in the COVID-19 epidemic stimulus package is the ability for an employer to defer payment of the employer’s share of certain federal payroll taxes. The deferral applies to the employer’s 6.2% share of the Social Security (OASDI) payroll tax. The deferral does not apply to the employer’s 1.45% share of …
