1. Money

Employment Taxes

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Definition:

The term employment taxes is confusing, because it means different things in different contexts. For this site, we will use the official IRS definition:
Federal employment taxes include the following:

  • Federal income tax withholding
  • Social Security and Medicare taxes
  • Federal unemployment tax (FUTA)

Note that some of these taxes may not be payable by your business (withholding), but they must be collected and turned over the IRS.

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