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/2012/01/16/making-estimated-tax-payments/ http://askcpasam.com/blog/2012/01/16/making-estimated-tax-payments/#comments Mon, 16 Jan 2012 19:52:15 +0000 CPA Sam http://askcpasam.com/blog/?p=677 Q. I am a 1 person (no employees) sole proprietor.  What would be the best way for me to calculate taxes and make quarterly tax payments (both Fed. and State)? A. This is one of the most common questions I get from self-employed individuals who are just starting out.  Basically, estimated payments in a self-employed [...]

]]> http://askcpasam.com/blog/2012/01/16/making-estimated-tax-payments/feed/ 0 http://askcpasam.com/blog/2008/10/01/live-in-one-state-work-in-another/ http://askcpasam.com/blog/2008/10/01/live-in-one-state-work-in-another/#comments Wed, 01 Oct 2008 16:14:31 +0000 CPA Sam http://askcpasam.com/blog/?p=78 Q. I live in Michigan and just started a new job working in Illinois.  I’ve never been in a situation with two states before.  My payroll department wants me to fill out all these different forms.  What should I do? A. I love multi-state tax situations!  It’s like job security for accountants.  The answer to [...]

]]> http://askcpasam.com/blog/2008/10/01/live-in-one-state-work-in-another/feed/ 0 http://askcpasam.com/blog/2008/04/25/how-much-tax-for-self-employed/ http://askcpasam.com/blog/2008/04/25/how-much-tax-for-self-employed/#comments Fri, 25 Apr 2008 15:56:00 +0000 CPA Sam http://askcpasam.com/blog/?p=16 Q. Is there a calculator that would help someone determine how much estimated payments I can make since I am self-employed? A. Unfortunately, there is no easy-to-use tool for calculating self-employment liability for estimated payments. Because the self-employed have to match Social Security and Medicare, yet get a credit for it above the line on [...]

]]> http://askcpasam.com/blog/2008/04/25/how-much-tax-for-self-employed/feed/ 0 http://askcpasam.com/blog/2008/03/11/fica-and-medicare-tax-payments/ http://askcpasam.com/blog/2008/03/11/fica-and-medicare-tax-payments/#comments Tue, 11 Mar 2008 17:05:00 +0000 CPA Sam http://askcpasam.com/blog/?p=4 Q. Where do I send FICA, Medicare, taxes? A. If you are an employer, FICA, Medicare and Federal withholding taxes should be deposited according to the schedule assigned by the IRS to your company. Very small employers can deposit and report these withholding amounts on Form 944 annually. The other deposit requirements are Monthly, Semi-weekly [...]

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