http://askcpasam.com/blog Making Payroll, Tax, Finance, Accounting Understandable Fri, 04 May 2012 13:21:07 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 http://askcpasam.com/blog/2011/01/21/2011-paycheck-changes/ http://askcpasam.com/blog/2011/01/21/2011-paycheck-changes/#comments Fri, 21 Jan 2011 13:37:24 +0000 CPA Sam http://askcpasam.com/blog/?p=620 By now, most employees in the United States have received their first paycheck of 2011.  About the same time the first check is received, payroll departments across the country were deluged with questions about the changes on employee checks.  This edition of the blog should help to clear up some of the confusion regarding a [...]

]]> http://askcpasam.com/blog/2011/01/21/2011-paycheck-changes/feed/ 0 http://askcpasam.com/blog/2010/08/13/hhs-wants-us-fit%e2%80%94irs-wants-the-tax/ http://askcpasam.com/blog/2010/08/13/hhs-wants-us-fit%e2%80%94irs-wants-the-tax/#comments Fri, 13 Aug 2010 14:07:51 +0000 vlambert http://askcpasam.com/blog/?p=561 It’s been in the news a lot lately—how unfit Americans have become. The First Lady is advocating programs to fight childhood obesity while AARP started an online movement to get its members fit over this summer. Everyone is being asked to join in and help. But for employers and especially for payroll helping fight obesity [...]

]]> http://askcpasam.com/blog/2010/08/13/hhs-wants-us-fit%e2%80%94irs-wants-the-tax/feed/ 0 http://askcpasam.com/blog/2010/08/04/social-security-started-over/ http://askcpasam.com/blog/2010/08/04/social-security-started-over/#comments Wed, 04 Aug 2010 13:38:22 +0000 CPA Sam http://askcpasam.com/blog/?p=551 Q. I have a unique variation of your “Social Security Tax on Everything” post… My wife’s small company decided to change their paycheck provider in July. The provider “reset” all employees yearly total earnings to zero and are therefore collecting the Social security tax from scratch. The provider claims they have to do this by IRS [...]

]]> http://askcpasam.com/blog/2010/08/04/social-security-started-over/feed/ 0 http://askcpasam.com/blog/2010/07/14/social-security-tax-on-everything/ http://askcpasam.com/blog/2010/07/14/social-security-tax-on-everything/#comments Wed, 14 Jul 2010 13:57:06 +0000 CPA Sam http://askcpasam.com/blog/?p=522 Q.  I have a full-time and a part-time job with different companies.  My employers are both taking out Social Security tax.  Is this correct? A. Good Question! There are several common misconceptions about Social Security withholding from a paycheck. This is probably one of the biggest. The answer is….a resounding YES!!! Each employer of record [...]

]]> http://askcpasam.com/blog/2010/07/14/social-security-tax-on-everything/feed/ 1 http://askcpasam.com/blog/2010/06/11/a-job-hunting-secret/ http://askcpasam.com/blog/2010/06/11/a-job-hunting-secret/#comments Fri, 11 Jun 2010 14:54:37 +0000 CPA Sam http://askcpasam.com/blog/?p=507 At my day job at Symmetry Software, we have been searching for some new employees to fill some open positions.  We are outsourcing the candidate search to a local employment agency.  In this economy, with almost 10% of  those looking for a job unemployed, there is a huge pool of well qualified labor just waiting to [...]

]]> http://askcpasam.com/blog/2010/06/11/a-job-hunting-secret/feed/ 1 http://askcpasam.com/blog/2010/06/02/hey-senator-stop-taxing-my-company-cell-phone/ http://askcpasam.com/blog/2010/06/02/hey-senator-stop-taxing-my-company-cell-phone/#comments Wed, 02 Jun 2010 13:42:23 +0000 vlambert http://askcpasam.com/blog/?p=505 There are a lot of fringe benefits making the news these days. But none with as much confusion as cell phones and the taxation thereof. If you follow IRS regulations closely you know there is an entity known as the property list. Items on this list are subject to taxation if used by employees for [...]

]]> http://askcpasam.com/blog/2010/06/02/hey-senator-stop-taxing-my-company-cell-phone/feed/ 0 http://askcpasam.com/blog/2010/05/14/arizona_new_a4/ http://askcpasam.com/blog/2010/05/14/arizona_new_a4/#comments Fri, 14 May 2010 17:28:44 +0000 CPA Sam http://askcpasam.com/blog/?p=494 Arizona has done it again.  Currently, anyone who is being paid in Arizona must select from several percentages on the A-4.  Arizona withholding is based on a percentage of federal withholding.  The percentage you pick will be multiplied times the federal withholding number on your paycheck to arrive at Arizona withholding.  If you selected 24.5%, [...]

]]> http://askcpasam.com/blog/2010/05/14/arizona_new_a4/feed/ 0 http://askcpasam.com/blog/2010/03/05/yikes-a-big-tax-bill/ http://askcpasam.com/blog/2010/03/05/yikes-a-big-tax-bill/#comments Fri, 05 Mar 2010 13:03:45 +0000 CPA Sam http://askcpasam.com/blog/?p=476 Q. My husband works for a large company, and I receive disability and do not work.  We just had our taxes done this week and got quite a shock!  We had a federal income tax refund of over $4000, but owed state tax of $1000 and local taxes of $600.  We are in PA.  How [...]

]]> http://askcpasam.com/blog/2010/03/05/yikes-a-big-tax-bill/feed/ 0 http://askcpasam.com/blog/2010/01/29/what-are-these-taxes/ http://askcpasam.com/blog/2010/01/29/what-are-these-taxes/#comments Fri, 29 Jan 2010 13:36:28 +0000 CPA Sam http://askcpasam.com/blog/?p=458 Q. I just started as a temp through an agency.  I work full-time and just received my first paycheck.  I want to ask about the OASDI and the NY 2010-NYCNY withholdings.  I was taxed heavily for the OASDI.  What is the NYCNY withholding? Most importantly, I wanted to ask you is there any way to [...]

]]> http://askcpasam.com/blog/2010/01/29/what-are-these-taxes/feed/ 0 http://askcpasam.com/blog/2010/01/15/filing-status-what-is-that/ http://askcpasam.com/blog/2010/01/15/filing-status-what-is-that/#comments Fri, 15 Jan 2010 15:39:07 +0000 CPA Sam http://askcpasam.com/blog/?p=450 Q. My payroll person told me that the filing status on the W-4 doesn’t necessarily mean the same thing as my marital status.  Is that true?  What is filing status? A. Filing status on the W-4 and filing status on your tax return are not necessarily the same thing.  The W-4 drives withholding only.  The [...]

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