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Hooray!! The annual update to the document every employer is anticipating finally occurred. Okay, maybe not all employers were as excited to see this as I was. Publication 15 should be every employer’s best friend. This document contains instructions on everything from obtaining an Employer Identification Number (EIN) to withholding, to employer taxes. How does [...]
Q. I just got a bonus from my company and noticed the taxes were way higher than my normal tax bracket. What is going on? I live in California. A. I have good news and bad news for you. The bad news is, the calculation is probably correct. You did not supply any numbers with [...]
Q. I received a bonus check and the amount that was on the paystub was $500 less than what the bonus came out to. When asking the owner he stated that money was used to pay for the employer’s share of the taxes. On top of that, they took out taxes for my portion as [...]
