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When I did my own withholding, I had to withhold Medicare and social security taxes on my employees behalf and deposit it quarterly. These are certainly taxes a
by prepend 3y ago
When I did my own withholding, I had to withhold Medicare and social security taxes on my employees behalf and deposit it quarterly. These are certainly taxes and there is withholding for the employer portion as well as for the employee portion withheld on their behalf along with income and any other applicable taxes.
Here’s a quote from the IRS [0]:
“ An employer generally must withhold social security and Medicare taxes from employees' wages and pay the employer share of these taxes.”
[0] https://www.irs.gov/businesses/small-businesses-self-employed/understanding-employment-taxes https://www.irs.gov/businesses/small-businesses-self-employe...