Tag Archives: Wages

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 […]

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 […]

Wage Settlement From State

Today TaxMama® hears from Ken in the TaxQuips Forum with this happy news. “Several years ago I worked for a company that ran out of money and couldn’t make payroll. I continued to work for several months with the promise that the wages would be paid. Eventually, I requested a layoff and left the company. […]

1099 Income

Today TaxMama hears from Samar in Texas who asks. “I have worked under 1099. Do I need to pay social security taxes on my wages?”

Employer Deductions

Today TaxMama hears from Myra in South Carolina, who asks, “Can an employer deduct 11% from employees’ wages and tell them that it is to cover the cost of processing credit cards? My son works in a restaurant where tips are added to credit cards and then the employees are charged this 11% by deducting […]