What to know about payroll taxes

04/1/2013 | Fox Business Small Business Center

Understanding payroll tax laws can help you avoid legal trouble and keep your costs as low as possible, writes Bonnie Lee, owner of Taxpertise. Make sure you include payroll taxes in your budget, look for free payroll services at your bank and classify your workers properly, she recommends. "Just because a worker agrees to be paid as an independent contractor doesn't mean it's the legal way of paying that person," she writes.

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