Today TaxMama® wants to update you on key tax issues that affect you this year.
Category Archives: Employees
*Education, *Special Reports, *Tax Quips, Amnesty, Business Expenses, Corporations, Employees, Independent Contractors, Interest Expense, IRS News, IRS Notices, Payroll, Penalties, S Corporations, Tax Education, Wages
VCSP – Employer Amnesty for Mis-Classifying Employees
07
May
May
Intro paragraph: Employers – PLEASE PAY ATTENTION NOW! You can no longer get away with treating employees as freelancers. Aside from several recent court decisions, there are too many ways for your employees to turn you in to the IRS and state authorities. After all, if the employees don’t want to pay YOUR half of the […]
*AskTaxMama Newsletter, *Tax Quips, Employee Business Expenses, Employees, Entertainment, Gig Economy, Payroll, Unions, VCSP, W-4, Withholding
Good News and Bad News in May
02
May
May
Today TaxMama® wants to talk about things to consider now that your tax return is filed. It IS filed, isn’t it?
*AskTaxMama Newsletter, *Tax Quips, Business, Business plan, Corporations, Employee Benefits, Employee Business Expenses, Employees, Independent Contractors, IRS News, Licenses, LLC, partnership
Switching from Employee Status to Independent Contractor
13
Feb
Feb
Today TaxMama® wants to give you something to think about before switching from employee status to independent contractor.
*AskTaxMama Newsletter, *Tax Quips, 1099s, AirBnB, Business Expenses, Business Taxes, Depreciation, Employees, Employer ID Number, Estimated Taxes, Form 1099, Form W-9, Independent Contractors, Lyft, Uber
The Gig Economy
16
Aug
Aug
Today TaxMama® says that estimated tax payments are due – and that’s timely information for the “Gig” economy.
Today TaxMama® wants to alert you about some important deadlines looming at the end of June 2013.
Today TaxMama hears from Scott in the TaxQuips Forum who needs guidance. “My mother in law babysits for me, and I pay her a flat amount every month to do so. Her only job is working for us right now. She needs 3 more years of income to earn enough credits to be fully […]
Today TaxMama® hears from Roger in the TaxQuips Forum who is frustrated with the concept. “I guess my question would be, what is different about what I’m doing and, say, a general contractor ICing a plumber regularly to plumb houses he is building? Or a magazine that subs out to a freelance writer? These guys […]
Today TaxMama® hears from someone offline with this distressing observation. “A client for whom we do payroll has an entire team of high-powered accountants and attorneys. They got together and reviewed our client’s several business entities and decided to close a certain company as of the end of 2012. However, none of the experts bothered […]
Today TaxMama® hears from Nick in the TaxQuips Forum who is angry. “This year I saw some disturbing instances where independent contractors were issued 1099-MISC for higher amounts than they were actually paid. Some of contractors were paid in cash and there are no supporting documents on how they were paid. The reason for these […]
Clarification of the Voluntary Classification Settlement Program for employers (Form 8952) IRS introduced this last year, and I explored how this could affect employers, and whether or not this is a good idea – or an audit trap. [See MarketWatch article.] The VCSP is for business employers , governments and exempt organizations, who have been […]
Today TaxMama® hears from Cristie in the TaxQuips Forum with a quick question. “I just wanted to know if my husband needs to report the money he makes from an Internet job which pays $400.00 a month? This is on top of his regular job in which taxes are taken out from every paycheck.”