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Clark, Schaefer, Hackett & Co., based in Cincinnati, offers Household Employee Tax Services. For more information contact Barry Oppelt, 513-241-3111 Employer Requirements: Labor Laws
Employer Tax Liabilities Any employee who receives wages of $1400 or more during a calendar year is subject to FICA (Social Security & Medicare taxes). For FICA, the tax applies to both the employer and employee. These taxes are reported and paid annually on Schedule H of your federal income tax return. Any Employee who receives wages of $1000 or more during a calendar quarter is subject to FUTA (Federal Unemployment Tax). For FUTA, an employee is only taxed on the first $7000 of his/her annual wages and the maximum tax paid by the employer for each employee is $56. These taxes are reported and paid annually on Schedule H of your federal income tax return. SUTA (State Unemployment Tax) must be paid if an employee receives wages of $160 or more per calendar and the tax is only assessed against the first $9000 of wages annually per employee. This tax is paid on a quarterly basis. In the state of Ohio, if an employee receives wages of $160 or more per calendar quarter, Workers' Compensation must be paid. This tax is due in February and August. Services We Provide to You:
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