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Payroll, plainly explained.
Answers for owners who run payroll themselves. Every number is tied to a primary source and dated to the tax year it applies to.
Starting A Business
Do You Need a Separate Business Bank Account?
No law we found requires one, but the IRS says to open one first, an LLC's money belongs in its own name, and payroll taxes reconcile far more easily with one.
Hiring
Employee or Independent Contractor? How to Tell
A worker is your employee if you control what they do and how they do it. Here is how the IRS, DOL, and state tests work, and what misclassification costs.
Hiring
Hiring Your First Employee: Checklist and Best Free Resources
An ordered checklist for hiring your first employee: EIN, state registration, workers comp, I-9, W-4, new hire report, payroll. Plus the best free help.
Seasonal And Part Time
How Payroll Works for Seasonal Employees
Seasonal staff are regular W-2 employees. What changes: skipping Form 941 in empty quarters, rehire paperwork, and unemployment tax that lands early.
Paying Yourself
How to Pay Yourself From an LLC
How you pay yourself from an LLC depends on its tax classification: draws for single-member, guaranteed payments for partners, payroll salary for an S corp.
Paying Yourself
How to Set a Reasonable Salary for Your S Corp
No IRS formula or 60/40 safe harbor exists. Set your S corp salary from what the market pays for your role and hours, document it, and run it through payroll.
Payroll Basics
Payroll Tax Deadlines for 2026
Every 2026 federal payroll tax deadline: monthly and semiweekly deposits, Form 941 due Nov 2, and W-2s, 1099-NECs, and Forms 940 and 941 due Feb 1, 2027.
Payroll Basics
Payroll Taxes Explained: FICA, FUTA, and State Unemployment
Employers pay 6.2% Social Security, 1.45% Medicare, FUTA, and state unemployment tax on top of pay and withhold the employee share. 2026 rates, with an example.
Starting A Business
Should I Form an LLC? How to Decide
An LLC shields your personal assets from business debts but does not cut your taxes on its own. What it protects, what it costs by state, and when to form one.
Household Employers
When You Owe the Nanny Tax in 2026 and How to Pay It
You owe the nanny tax in 2026 if you pay one household employee $3,000 or more in cash wages. Rates, exemptions, a worked example, and how to pay the IRS.