Tag Archives: Payroll

VCSP – Employer Amnesty for Mis-Classifying Employees

You can no longer get away with treating employees as freelancers. There are too many ways for your employees to turn you in to authorities. Or, to get a tax break and pay only their half of the self-employment taxes – they MUST turn you in. Before they do that, come clean with the IRS. […]

Mom Provides Child Care

  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 […]

Missing Your W-2? Here’s What to Do

Courtesy of the IRS [TaxMama note: Don’t be in a hurry to file. Wait until you’re sure you have ALL the W-2s, 1099s, etc., including the corrected 1099s your brokerage sends out in March.] It’s a good idea to have all your tax documents together before preparing your 2012 tax return. You will need your […]

Employee or Contractor

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 […]

Health Insurance Zinger

Today TaxMama® hears from Larry in the TaxQuips Forum with a quick question. “If an employee pays for his family’s health insurance through payroll withholding, is the amount he pays free from taxes? My clients paid $6,000 in 2012 through payroll withholding and his W-2 gross income in block 1 (and blocks 3 & 5) […]

Payroll Deposits

Today TaxMama® hears from Donna in the TaxQuips Forum with this running argument. “Our debate concerns a client whose payroll taxes for the current and previous quarters well exceeded $2,500. The client is a monthly depositor and did not make a timely deposit for the last month in the quarter. The deposit amount due for […]

Contributed and Quit

Today TaxMama® hears from Sergey in the TaxQuips Forum, with this problem. “I started a new job with a 401k plan this year; but I had to quit after a few months. I accumulated some money in my 401k with this organization; and I want to take that money out now. Am I subject to […]