If you have W-2 employees, don't do payroll yourself. One client's DIY mistakes cost more in penalties than a payroll service would have charged. Hire a professional and let them handle it.
What are the taxes small business owners need to know about? And then the last tax I'll talk about is employment tax. If you have payroll, W-2 employees, I strongly recommend using a payroll company. You do not want to do this yourself. I promise you, every client I've ever had— that's all-encompassing— every client I've ever had who's done their own payroll will make mistakes. I had a client years ago that they Did their own payroll and they refused year after year to bring on a payroll service. Even after I showed them the penalties they were paying because they were messing up on their payroll filings was more than what they would pay a payroll company. Don't mess with this one, guys. Get a good payroll company. If you have any questions about these, feel free to reach out to us. Remember, the government doesn't care if you understand this or don't. They're holding you as if you do understand. They are effectively out to get you if you make a mistake. So don't make a mistake. Do it the right way.
