Q. We recently ran a fireworks stand for a business in another state. They have stands over about 4 different states and they hire people to manage them for them. This was our first year running the stand. We sold off of commission. We were to receive 20-25% of net sales that we took in. [...]
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 [...]
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 [...]
The IRS recently released a new list of Frivolous Tax Arguments. This list shows all the ways people try to avoid paying their tax bills. The problem is that most have been disproved in court many times. In 2006, the U.S. Congress increased the penalty for filing a tax return with one of these or [...]
Q. I borrowed $15,000 from my 401(k) in Feb, 09. In May, 09, I was laid off from my job. My only options for the loan were to pay it in full (not going to happen) or default. They would NOT allow me to continue making payments and would not transfer the loan to my [...]
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 followed your advice and had my payroll department withhold based on W4 stuff instead of a flat percent. How do I know if I’m on track? A. That’s a rather amusing question actually. Publication 15 and the W-4 both require that you use only marital status and number of allowances on the form. [...]
No questions about this one, but the weather guys are starting to talk about tropical storms forming. When I think of hurricanes or tropical storms, I think of lots of destruction and lots of tax documentation flying away from those who need it. While other bloggers and reporters may talk about preparing food, shelter and [...]
Q. I know you get a lot of questions about this, but I think I may have not been allowing myself the number of allowances that I am qualified to receive. I am 33, single, have 2 homes in a separate state, both are rented. Should I be able to claim an allowance of 3, [...]
Happy National Small Business Week! This happens to be the illustrious week designated for increased awareness of issues surrounding the small business community. In honor of this week, I wanted to highlight three very big issues facing small employers. 1. Health Care Costs – The Obama administration is looking to find a way to cover [...]
