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/2012/05/04/one-state-two-state-three-state-withholding/ http://askcpasam.com/blog/2012/05/04/one-state-two-state-three-state-withholding/#comments Fri, 04 May 2012 13:21:07 +0000 CPA Sam http://askcpasam.com/blog/?p=714 Q. I have a question regarding payroll tax withholding, and personal income tax reporting. When an employee is a resident of state X, but works in state A, B anc C, as a travelling consultant. And where B has reciprocity agreement with state X. What are the employees income tax reporting responsibility. Does the employee [...]

]]> http://askcpasam.com/blog/2012/05/04/one-state-two-state-three-state-withholding/feed/ 0 http://askcpasam.com/blog/2012/04/19/payroll_and_filing_status/ http://askcpasam.com/blog/2012/04/19/payroll_and_filing_status/#comments Thu, 19 Apr 2012 16:27:09 +0000 CPA Sam http://askcpasam.com/blog/?p=688 Q. The Indiana State Form WH-4 doesn’t have a place for the employee to indicate Married or Single.  However, our payroll system (ADP Enterprise) requires us to complete this with entering state tax information. The employee has indicated Married on the Federal W4 form so should we also use Married for the state? A. State W-4 [...]

]]> http://askcpasam.com/blog/2012/04/19/payroll_and_filing_status/feed/ 0 http://askcpasam.com/blog/2012/02/07/w2-questions/ http://askcpasam.com/blog/2012/02/07/w2-questions/#comments Tue, 07 Feb 2012 22:28:10 +0000 CPA Sam http://askcpasam.com/blog/?p=680 Q1. If I was paid a cash bonus in 2010 and 2011, can my employer report both years of bonus on my 2011 w-2? A. The answer to your question is really quite simple.  When did you receive the money?  Payroll taxes are calculated like cash accounting.  When funds are “constructively received,” they become taxable.  If [...]

]]> http://askcpasam.com/blog/2012/02/07/w2-questions/feed/ 0 http://askcpasam.com/blog/2011/01/21/2011-paycheck-changes/ http://askcpasam.com/blog/2011/01/21/2011-paycheck-changes/#comments Fri, 21 Jan 2011 13:37:24 +0000 CPA Sam http://askcpasam.com/blog/?p=620 By now, most employees in the United States have received their first paycheck of 2011.  About the same time the first check is received, payroll departments across the country were deluged with questions about the changes on employee checks.  This edition of the blog should help to clear up some of the confusion regarding a [...]

]]> http://askcpasam.com/blog/2011/01/21/2011-paycheck-changes/feed/ 0 http://askcpasam.com/blog/2010/10/20/congressional-indecision/ http://askcpasam.com/blog/2010/10/20/congressional-indecision/#comments Wed, 20 Oct 2010 13:19:02 +0000 CPA Sam http://askcpasam.com/blog/?p=591 Working in the payroll software industry during the day has certainly opened my eyes to problems created by our federal elected officials.  Under normal circumstances, Congress decides on a budget for the next year with significant lead time for the president to sign the legislation and the Treasury department (IRS) to issue tax tables based [...]

]]> http://askcpasam.com/blog/2010/10/20/congressional-indecision/feed/ 0 http://askcpasam.com/blog/2010/09/03/self-employed-on-unemployment/ http://askcpasam.com/blog/2010/09/03/self-employed-on-unemployment/#comments Fri, 03 Sep 2010 13:47:53 +0000 CPA Sam http://askcpasam.com/blog/?p=572 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 [...]

]]> http://askcpasam.com/blog/2010/09/03/self-employed-on-unemployment/feed/ 0 http://askcpasam.com/blog/2010/08/04/social-security-started-over/ http://askcpasam.com/blog/2010/08/04/social-security-started-over/#comments Wed, 04 Aug 2010 13:38:22 +0000 CPA Sam http://askcpasam.com/blog/?p=551 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 [...]

]]> http://askcpasam.com/blog/2010/08/04/social-security-started-over/feed/ 0 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/2010/06/25/teacher-gifts-from-students/ http://askcpasam.com/blog/2010/06/25/teacher-gifts-from-students/#comments Fri, 25 Jun 2010 14:38:45 +0000 CPA Sam http://askcpasam.com/blog/?p=523 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. [...]

]]> http://askcpasam.com/blog/2010/06/25/teacher-gifts-from-students/feed/ 0 http://askcpasam.com/blog/2010/06/18/sole-proprietor-on-payroll/ http://askcpasam.com/blog/2010/06/18/sole-proprietor-on-payroll/#comments Fri, 18 Jun 2010 14:01:21 +0000 CPA Sam http://askcpasam.com/blog/?p=512 A good question today for discussion: “My husband is self-employed with no other employees.  I generate his paychecks.  This year, he has been doing a few jobs outside of our county; therefore, the local tax amounts vary from county to county.  The payroll program I use is a very basic program so there are not a lot of [...]

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