2016 Payroll Tax Changes
Lions and Tigers and Payroll Taxes, Oh My!
Payroll taxes, Social Security and Medicare taxes, FICA taxes... whatever you may call them, as an employer you have to pay them on behalf of your employees. The good news for small business owners is there really aren't any major changes for 2016. Social Security, Medicare and FUTA rates and wage limits remain the same.
Here's a brief summary of the 2016 rates:
Tax brackets, as usual, have moved slightly and can be found in the IRS Employer's Tax Guide for 2016.
If payroll taxes are giving you a headache, I recommend getting help from your accountant or outsourced payroll services provider!