Hiring Your First Employee: Tax and Payroll Obligations You Can't Skip
Hiring your first W-2 employee means new payroll tax obligations. This 2026 guide covers FICA, FUTA, Form 941, deposit deadlines, and Minnesota requirements.
John C Thompson, EA
Tag: Employee Taxes
3 posts
Employee vs. Independent Contractor: How the IRS Decides Worker Classification
Deciding between 1099 and W-2 for your first hire? Learn the IRS worker classification test, misclassification penalties, and how to document your decision.
John C Thompson, EA
Holiday Business Gifts, Parties, and Tax Implications: What's Actually Deductible
Holiday business spending rules for 2026: the $25 client gift limit, why employee holiday parties are 100% deductible, gift cards as wages, and bonus timing.
John C Thompson, EA