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Q. I am a OTR driver and am the only person working for this company. Now he’s shutting down the company. He classified me as self employed. Can I draw unemployment? I do not have a home, but license is North Carolina. Employer was in Nebraska. A. The arrangement between you and the company providing [...]
Q. My question is: I work for a school. Sometimes parents gift money or gift cards at holiday time or for an appreciation event. Are these taxable. How about gift cards from a school committee (holiday drawing etc.) Even a child will offer a dollar in a card. If they are I am really upset. [...]
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 [...]
Q. A 2% shareholder of an s corporation is also an emploeye. The corporation offers health insurance under a premium only 125 cafeteria plan. Is the shareholder/employee eligible to participate? If so should the corporation’s contribution be reported as wages? A. There are lots of good articles already on the web about 2% shareholders of S corporations. [...]
Q. We have an employee who is working on an extended assignment (1+ years) in another state. This is not the state of his residence. My company is paying his apartment rent. Is this taxable income to the employee? A. That is a very good question. In these turbulent economic times, employees are more apt [...]
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 just started a new job and my employer wants me to do the payroll too. How do I learn some more about it so I don’t mess it up? A. Thank you for looking for more education. So many people think that payroll is nothing more than taking out taxes. The payroll process [...]
Q. I was fired from my job last week. When I tried to file for unemployment, they said I couldn’t claim because I was self-employed. I thought unemployment was for this reason. What do I do? A. Unemployment benefits are designed for employees who are unemployed, under-employed, downsized, rightsized, or fired. If you were actually [...]
Q. I am thinking of hiring someone and would like to know if there is any benefit to me if I pay the employee’s taxes. For example is my payment of the employees local and/or federal taxes am I allowed to deduct any of these on my own tax returns. I would also like to [...]
Q. I am employed in the State of California and am curious to know what the tax limits and cutoffs are for Social Security and California SDI Payroll Taxes. A. This question is a little more technical than I usually like to go. But there is common value and in this question and a possible [...]
