http://askcpasam.com/blog Making Payroll, Tax, Finance, Accounting Understandable Mon, 16 Jan 2012 19:52:15 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 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/2010/04/07/education-and-finances/ http://askcpasam.com/blog/2010/04/07/education-and-finances/#comments Wed, 07 Apr 2010 14:19:11 +0000 CPA Sam http://askcpasam.com/blog/?p=488 Today is a special edition targeted to those who are still in the education system.  The consensus this time of year is “spring fever” and “I can’t wait until summer is here.”  Before you start the 2-month brain checkout however, let’s keep some things in mind. One of my favorite bloggers, Jeff Thredgold, publishes a [...]

]]> http://askcpasam.com/blog/2010/04/07/education-and-finances/feed/ 0 http://askcpasam.com/blog/2010/03/24/s-corp-shareholder-health-benefits/ http://askcpasam.com/blog/2010/03/24/s-corp-shareholder-health-benefits/#comments Wed, 24 Mar 2010 13:19:32 +0000 CPA Sam http://askcpasam.com/blog/?p=484 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. [...]

]]> http://askcpasam.com/blog/2010/03/24/s-corp-shareholder-health-benefits/feed/ 0 http://askcpasam.com/blog/2010/01/08/publication-15-is-out/ http://askcpasam.com/blog/2010/01/08/publication-15-is-out/#comments Fri, 08 Jan 2010 14:11:43 +0000 CPA Sam http://askcpasam.com/blog/?p=448 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 [...]

]]> http://askcpasam.com/blog/2010/01/08/publication-15-is-out/feed/ 0