Payroll taxes refer to all the taxes that employers, and sometimes employees, must pay to the government. This includes income tax, Social Security, state and local taxes, unemployment taxes and other deductions. To calculate payroll taxes, businesses need to take into account each employee’s salary, job type and benefits schedule, depending on the laws of the jurisdiction they are in. All these factors must be taken into account to ensure accurate payment of payroll taxes to the relevant authorities. It’s an important process for any business looking to stay on top of their financial obligations and remain compliant with taxation law.