As of July 4, 2025, the One Big Beautiful Bill Act allows workers to deduct up to $12,500 of overtime pay ($25,000 for joint ...

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

The new state budget carves SUNY community colleges in the MTA’s 12-county region out of that payroll mobility tax. The six campuses are concentrated on Long Island and in the Hudson Valley ...

In 2023, legislators enacted a 0.7% payroll tax to take effect in 2026. The tax hasn’t even hit employers yet, but lawmakers already have boosted the rate to 0.88% since then.

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 ...

Employers enter W-4 results from each employee in their payroll tax software and the payroll provider often automatically handles the calculations and withholdings on the employer’s behalf.

The IRS says to use Form 1120-W to calculate C corp estimated tax payments, 1120-S for an S corporation. Payments are due on the 15th day of the fourth, sixth, ninth and 12th months of the tax ...

Medicare taxes are part of FICA and are automatically deducted from employees' paychecks. Both employers and employees contribute to this tax, which is 2.9% of earned income and wages (1.45% paid ...

Gov. Kathy Hochul is pushing a New York City tax hike to replace the $15 congestion pricing tolls she indefinitely postponed -- a last-minute funding Hail Mary that drew fierce opposition Thursday.

Greater payroll taxes for GP clinics means lower profits. Clinics will seek to make up the shortfall in revenue by other means – and this could include reducing the number of patients they bulk ...

For example, if you make $45,000 a year, the WA Cares tax would be about $261 a year. If you make $120,000 annually, the long-term care payroll tax amount would be about $696 a year.