The Social Security Administration circulated an imprecise email about the provisions in the new law. Here’s what it actually does.

In 2025, the 6.2% Social Security tax remains a crucial payroll deduction, funding essential retirement, survivor, and ...

New tax breaks on tip income and overtime pay will go into effect in 2025, part of the megabill that President Trump signed ...

Final tax reform bill preserves SALT and PTET deductions for traders and professionals, avoiding SSTB carve-outs and ensuring ...

With Social Security trust funds estimated to run out in less than a decade, some Americans wonder if Congress will step in ...

Investopedia chose Coursera’s Intuit Bookkeeping Basics as the best overall online bookkeeping class. It’s free and teaches ...

Learn how to build a reliable retirement paycheck by assessing your needs, identifying income sources, developing a ...

The trust funds that the Social Security Administration relies on to pay millions of U.S. retiree benefits could be depleted ...

With a payroll deduction plan, employers withhold money from an employee's paycheck, most commonly for employee benefits and taxes. It can be voluntary or involuntary.

Set up payroll and taxes (request an employee identification number (EIN) and required state or local IDs). File federal and state payroll taxes (every quarter).

Form 941 is used to report income taxes, payroll taxes, Social Security, and Medicare taxes withheld from employee wages. Most employers who pay wages file Form 941.

Self-employed individuals must pay their own payroll taxes and make quarterly estimated tax payments to the IRS. Independent contractors can use tax software to help estimate their taxes or rely ...