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Florida is appealing to many employers because it has no state income tax. However, there are still many payroll taxes that employers are obligated to make, and it is crucial that business owners meet these responsibilities. This can be difficult when you are managing a complex company. By working with a skilled Melbourne payroll tax attorney, business owners can successfully meet their tax responsibilities and focus on their company. Payroll taxes are just one part of state tax laws.
Businesses may also face other state tax rules that can be confusing. Getting help from an expert state tax lawyer in Melbourne can make it easier to understand these rules and avoid problems.
An attorney can also help if payroll taxes have already caused issues. Both employers and employees have tax responsibilities, and failing to meet them can lead to penalties and other financial issues. When these issues arise, it is important that you don’t ignore them. If the IRS (Internal Revenue Service) is claiming you have violated your tax obligation or you are already facing tax debt, an attorney can help you navigate this complex process.
At Tax Smith Tax Attorneys, our team is committed to helping you navigate your payroll taxes. Whether you need legal advice and support during pay period filing or you are dealing with a payroll tax violation, we can help. We have decades of tax law experience, and it is our goal to treat every client with compassion and understanding. Although payroll tax violations can happen to any employer, they should not be taken lightly.
Even when they are minor errors, the penalties and consequences can be serious. If you have made a tax error or have been informed of a violation, it is essential that you secure legal support. Our firm can advocate for you. Errors in your payroll taxes can lead to investigations, audits, and penalties. When discrepancies arise, tax agencies may scrutinize financial records to determine whether mistakes were made intentionally or due to mismanagement. Tax Smith Tax Attorneys can help you address these issues effectively and attempt to mitigate the financial cost.
If the penalty was made in error, our team protects your interests against these claims. We work to secure the ideal outcome in an IRS or state agency investigation or audit. By working with our firm, you could also prevent future errors and penalties. We help you craft a strategy for your payroll taxes and may be able to mitigate your tax liability. Our firm can help you meet your obligations as a business owner.
Payroll taxes are payments that employers make to state and federal tax agencies. The amount and payment schedule of these payments vary depending on the size of a business’s payroll.
Both employers and employees are responsible for FICA taxes or Federal Insurance Contributions Act taxes. These taxes cover Social Security and Medicare taxes. These are part of an employer’s payroll taxes. Each party is responsible for half of these taxes. Employers typically withhold the employee’s half of FICA taxes from their paycheck. However, if the employer does not, then employees are responsible for paying their half of FICA taxes.
Payroll taxes also include other types of payments each pay period beyond the employer and employee half of FICA, including:
If either an employer or employee fails to pay their FICA taxes or an employer fails to pay their other payroll taxes, they can face serious consequences. It can result in penalties for violations, which can accrue interest. Penalties can accumulate quickly, making it even more challenging for businesses to regain financial stability if payroll tax issues are left unaddressed. If tax debt is unaddressed, it only becomes more of a problem.
Employers and employees must be informed of their obligations for tax payments. A payroll tax attorney can be very useful for employers who are unsure of their responsibilities or need skilled legal support filing their payroll taxes.
Whether you are a small business, a start-up, or a long-standing corporation, it is important to be aware of potential payroll tax violations. This includes:
A tax attorney is incredibly beneficial for employers with payroll tax obligations because they help business owners file their taxes accurately and on time, limiting future tax issues. An attorney can also help business owners limit their liability for their tax obligations. If your business is being accused of violations of payroll taxes or is facing an audit, a tax attorney can help you prepare your company and defend you against accusations.
The amount that a payroll tax attorney charges in Florida depends on many factors. Many attorneys charge an hourly rate for their services and it varies based on:
If you need defense in a litigated tax issue, it is likely going to be more costly than a review of payroll taxes.
Whether you seek the help of a payroll tax attorney or a CPA (certified public accountant) will depend on the type of information and service you need. A payroll tax attorney can give you legal advice, while a CPA cannot. A CPA can be helpful when documenting and filing taxes. A tax attorney can help negotiate with tax agencies. Both professionals have substantial training and education in tax codes and how they affect business owners.
Payroll taxes are a percentage of an employer’s payroll, which includes state and federal obligations such as:
Florida does not have a state income tax for employees.
Effective professional advocates are exceptionally useful when dealing with complex tax codes and tax issues. At Tax Smith Tax Attorneys, we are proud to help business owners in Melbourne and throughout Florida. If your business is dealing with an issue with the IRS, or you want to have a professional review your payroll taxes to mitigate future risk, contact our firm today.
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