Federal Insurance Contributions Act tax

Outsourcing Payroll and Third Party Payers

August 5, 2011

   Courtesy of the IRS [TaxMama Note: payrolls and payroll tax deposits tend to case THE most problems for small businesses. Somtimes, outsourcing is your best option.] Employer’s Outsourcing Payroll Responsibilities Many employers outsource some of their payroll and related tax duties to third-party payroll service providers. They can help assure filing deadlines and deposit [...]

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Double Reimbursement

May 25, 2011

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Today TaxMama hears from Doug in the TaxQuips Forum who is arguing with his work buddies. “We are a group of field technicians that work entirely out of our home and have no local office to report to. We drive directly from our home to a customer site, and the visit usually is completed that [...]

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Self Employment Surprise

April 4, 2011

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Today TaxMama hears from Alyssa in the TaxQuips Forum, who is surprised. “I am a small business owner, a personal chef. But I also work for a catering company. Even though I made less this year on my adjusted gross income then last year, I owe $1,300; while I paid $200 last year! Could it [...]

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Hiring Workers With ITINs

March 28, 2011

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Today TaxMama hears from Goran in the TaxQuips Forum, with a serious issue. “I am a contractor and have my own flooring company. I would like to know if I may have helpers with only an ITIN number. Then, could I file 1099′s with only an ITIN number to deduct on my taxes?  Share this:

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Social Security Disability Claims

September 16, 2010

Today TaxMama wants to talk about a grave problem. Social Security Disability claims are rising at an alarming rate.  In just one year, from 2008 to 2009, Social Security disability applications rose by 21 percent. This kind of growth threatens to sink the system. Share this:

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Making IRS Payments

August 20, 2010

Proposed Regulations Expand the Use of Electronic Payment System and Discontinue Paper Coupons Next Year WASHINGTON — Consistent with a Financial Management Service initiative announced in April of this year, the IRS today issued proposed regulations to significantly increase the number of electronic transactions between taxpayers and the federal government. The proposed regulations (REG 153340-09) [...]

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Tax Cuts for Wage-Earners

August 18, 2010

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Today TaxMama hears from Chris in the TaxQuips Forum, who puts out a challenge to TaxMama. He says, “Tax mama has advice for business owners. But how does an individual get more money on their paychecks?” Share this:

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Let’s Reward Our Health Care Professionals

June 18, 2010

Affordable Care Act Provides Expanded Tax Benefit to Health Professionals Working in Underserved Areas  WASHINGTON — As part of a larger Administration announcement on efforts to strengthen the health care workforce, the Internal Revenue Service today announced that under the Affordable Care Act health care professionals who received student loan relief under state programs that [...]

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Form to Claim Payroll Tax Exemption for Hiring New Workers Now Available

May 21, 2010

Courtesy of IRS WASHINGTON —The Internal Revenue Service has posted on its website the newly-revised payroll tax form that most eligible employers can use to claim the special payroll tax exemption that applies to many new workers hired during 2010. Share this:

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HIRE Act: Questions and Answers for Employers

April 16, 2010

Courtsey  of IRS Under the Hiring Incentives to Restore Employment (HIRE) Act, enacted March 18, 2010, two new tax benefits are available to employers who hire certain previously unemployed workers (“qualified employees”). Share this:

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