Tag Archives: Federal Insurance Contributions Act tax

Disability Wages

Today TaxMama hears from Leslie in the TaxQuips Forum who makes an excellent point. “When a Member of the Screen Actors Guild becomes disabled, in order to receive their Pension, they must sign paperwork. One of the acknowledgments is that “You have been made aware that FICA should not be taken out of your residuals […]

TaxMama’s Tax Roundtable – November 2011 Session

  November  17, 2011 Tax Roundtable TaxMama’s Tax Roundtable is a monthly live discussion open to all TaxMama Family Members and all TaxMama’s EA Exam and Solving the Tax Puzzle Students. REPLAY today’s session below – you can listen and SEE the session and forms. Today’s topics included:

Hiring Your Children

Today TaxMama hears from Ann in the Tax Quips Forum, with a reasonable question. “A woman pays her 13 & 15 year-old children to do office copying, collating, help distribute flyers, and help put on story plays for their author parent. If she were to hire an outside service, she would pay considerably more money […]

Outsourcing Payroll and Third Party Payers

   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 […]

Double Reimbursement

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 […]

Self Employment Surprise

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 […]

Hiring Workers With ITINs

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? 

Social Security Disability Claims

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.

Making IRS Payments

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) […]

Tax Cuts for Wage-Earners

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?”

Let’s Reward Our Health Care Professionals

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 […]

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

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.