To understand why it is important to have a Payroll Taxation Lawyer for your business, you must first understand exactly what payroll taxation is.
Payroll taxation is defined as a self-assessed, general purpose state and territory tax assessed on wages paid or payable by an employer to its employees, when the total wage bill of an employer (or group of employers) exceeds a threshold amount. Each state and territory has different tax thresholds for payroll tax rates so it’s important that business owner(s) not only understand the laws and regulations around payroll taxation in their state, but that they are given the correct information from someone who specialises in this area. It is for this reason that more and more business owners are seeking out a Payroll Taxation Lawyer to help them along the way.
Business owners are required to keep up with a number of different legal obligations. With the all the pressure that comes with running your own business, looking after important matters, ensuring your employees are working efficiently, dealing with complaints and just the general upkeep of being a business owner, it’s easy to let things such as payroll tax slip to the back of your mind.
As an employer, you must ensure you are payring payroll tax calculated on your employees’ salaries and wages; not doing so correctly may warrant hefty penalties and fines. This is where a Payroll Taxation Lawyer can really be imperative to ensuring that you are meeting the appropriate compliances and legal obligations. A Payroll Taxation Lawyer is different from a general lawyer in that they specialize in this area so you can rest assured the help and advice you are given is accurate. Whether you require ongoing management or once off advice, a Payroll Taxation Lawyer at Tobin Partners can help!
