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DISCOVER THE RETIREMENT BREAKTHROUGH .THE ROTH IRA!
If you don't know what a Roth IRA is then stop everything, print this article and read it carefully as this will certainly be the most valuable information you read this year. This next retirement account is to your net worth what light bulb was to...

Hurricane Katrina - How To Use Your Business Loss To Get A Refund on 2004 Taxes
With the massive losses caused by Katrina, the economy of the Gulf Coast region is in extremely bad shape. Fortunately, there is a quirk in the tax code that can help you generate a large refund from your 2004 taxes. Apply Losses to 2004 Taxes...

Practical, Pragmatic Preparation
Franchising 101: The Complete Guide to Evaluating, Buying and Growing Your Franchise Business Edited by Ann Dugan, Published by the Association of Small Business Development Centers (ASBDC) Cooked up by CPA's, Attorneys and Insurance Brokers, with...

Retirement: Planning For When You Get There
Are you ready for retirement? For most hard working individuals, retirement doesn't seem like it is close enough. But, for those that realize the amount of money needed to be well off through the later stages of life, there is nothing more...

Savings Bonds
Savings bonds are a great way to save money for your future. Either purchased yourself, or given as a gift, savings bonds ensure you that you will have at least some amount of savings later on. Although you may already know a little about...

 
State Taxes

Small businesses owners are dependent upon each state for their liability when it comes to payroll taxes for their state of operation. Each state varies, and there are even some states that do not withhold state tax and require no state income tax filing. Each state requires that an employer deduct and withhold unemployment tax, just the same as at the federal level. Generally, however tax rates for the state level on unemployment tax will vary depending upon the employment history of the business. Once in business long enough, a tax rate can be established based upon the employer's experience with benefit charges and taxable payroll. Taxes are deducted in the same manner as federal taxes, each pay period and filed with the applicable state on a monthly basis. Most states will also require a quarterly information report comparable to the 941 federal forms. Withholding rates on the state level are much lower than the federal rates. Also, there are limits of liability. Once a particular level is reached in income, the tax rate may be reduced, or sometimes eliminated. Small businesses operating in one more than one state may find themselves liable for payroll tax in each state. If you operate in multiple states, you should contact each state of operation to determine your liability and setup the necessary accounts for deductions. Quite often accountants that handle state taxes in your area will be aware of each state's filing requirements and be able to assist you. The greatest concern as a small business that you will have on the state level will be the unemployment tax that you are assessed. Unemployment compensation is administered on the state level, and can therefore greatly affect your tax liability. Your tax rating determines your tax liability, and new businesses are given a standard rating until enough time has passed with operations to assess an individual rating based on employee benefit charges and gross taxable payroll.

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