just curious, do you automatically send withholding to the IRS automatically? I guess you make money with the withholding money you take in every paycheck but only transmit at the end of a quarter?
I never thought about this. Does an employer do the same with W-2? Assuming you have 100 employees paid monthly and you withhold $1 for each employee per pay month... For example, if the pay for the month of January would send me back $100 which the employer gets to keep That $100 until the end of March? And same for the pay period of February? Is this illegal? I've read that you can't do that with payroll tax but is income tax treated differently?
Sorry if these are stupid questions. I don't have a background in accounting.
https://painless1099.com/home/fees
Are you guys from Nebraska? Did you just randomly pick Lincoln Savings Bank to partner with?
https://painless1099.com/public/docs/33611.pdf
just curious, do you automatically send withholding to the IRS automatically? I guess you make money with the withholding money you take in every paycheck but only transmit at the end of a quarter?
I never thought about this. Does an employer do the same with W-2? Assuming you have 100 employees paid monthly and you withhold $1 for each employee per pay month... For example, if the pay for the month of January would send me back $100 which the employer gets to keep That $100 until the end of March? And same for the pay period of February? Is this illegal? I've read that you can't do that with payroll tax but is income tax treated differently?
Sorry if these are stupid questions. I don't have a background in accounting.