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Payroll Tax Basics Every Small Business Owner Needs to Know
ARTICLE | October 12, 2026
Authored by Vasquez + Company
When small business owners think about taxes, income taxes are usually top of mind. But if you have employees, payroll taxes deserve just as much attention. Every pay period, you're responsible for withholding and remitting a range of federal, state, and local taxes, including income tax withholding, FICA contributions for Social Security and Medicare, and both federal and state unemployment taxes. Getting these obligations right is critical for maintaining compliance, supporting accurate cash flow planning, and avoiding penalties that can catch even well-run businesses off guard.
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Our firm provides the information for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. This article is not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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