Depending on how your business is structured, you may need to pay yourself a salary and/or have employees on your business’ payroll. Tracking your payroll related expenses is important for claiming your business deductions and accurately tracking your business’ finances.
While Hurdlr does not offer a payroll service, you can track your payroll related expenses when they pull into Hurdlr from your linked bank.
When tracking your payroll expenses, you’ll typically want to track the wage portion of the payroll expenses separately from the payroll taxes. In Hurdlr, you can use the split feature to split a payroll expense between the ‘Salaries & Wages’ portion and the ‘Payroll Taxes’ portion.
Disclaimer: The information contained here is provided for informational purposes only and should not be construed as financial or tax advice. It is not intended to be a substitute for obtaining accounting or other financial advice from an appropriate financial adviser or for the purpose of avoiding U.S. Federal, state or local tax payments and penalties.