Talkin' Tax - Payroll Taxes
In the third installment of Talkin' Tax, the Brysons acknowledge the thorn in the sides of business owners - payroll taxes. Unlike individual taxes that we file once a year, payroll taxes are an ongoing payment process that business must make to the IRS throughout the course of a fiscal year. Failure to make payments on a timely basis can land you and your business in a whirlwind of trouble!
Luckily, the Brysons have countless case studies and years of experience in helping business owners address payroll taxes as a whole, as well as back payroll taxes.
If you're a business owner, who may be struggling to keep up with payroll tax payments, especially following Covid-19's impact on your business, get a notebook ready because this episode is full of beneficial information to get you on the right track!
Timecodes:
00:41 - Recap on prior episodes
02:20 - What are payroll taxes and why do business owners have to pay them?
03:45 - Why business have to make these payments in the first place?
05:00 - What happens when a business owner neglects to make these payments?
07:30 - Examples of the Bryson Law Firm working with business owners to help them deal with a payroll tax problem
15:10 - The Covid-19 pandemic's impact on the IRS coming after payroll taxes
19:10 - Strategies the Brysons recommend to clients in dealing with payroll taxes
22:43 - What options are available for someone who can't make payroll taxes?
25:05 - The general misconceptions surrounding payroll taxes
28:00 - There are plenty of criminal implications surrounding failure to make payroll taxes
33:20 - Final remarks
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