What financial responsibilities do I have for my employees ?
You must withold federal and state income taxes and contribute to unemployment and workers compensation funds. You must also match their social security contributions. You may want to also check into "key employees" life and disability insurance programs. Laws vary from state to state. Speak to your local CPA about the financial resposibilities in your jurisdiction and industry.
Need Professional Help?
If you need help with "Business Start-ups" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.