74 \\ 2024 Payroll Taxes Explained: FICA, Medicare, FUTA, and Self Employment for Small Businesses

Confused about payroll taxes? This episode breaks down the different types of payroll taxes and how they affect small business owners. You’ll learn the difference between FICA, FUTA, SUTA, Medicare tax, and self-employment tax, plus the 2024 limits you need to know. Tiffany explains how payroll works for sole proprietors, LLCs, and S Corps, why self-employment tax hits so hard, and how to handle state and federal unemployment taxes. She also shares why paying yourself the right salary can help with tax reduction and smarter money decisions. Whether you’re new to small business finance or just want clarity on tax strategies, this episode will give you practical, plain-English cpa advice that can save you money and stress. 🌟📈👩‍💼🧾

 

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