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 […]
Tag Archives: Medicare
Today TaxMama hears from Nancy in the TaxQuips Forum with several questions. “I am to be married this year. I am going to file as married, filing separately (MFS). Can I claim my husband since he is disabled and collecting social security disability? Also I understand that I cannot mix the standard deduction and itemizing on […]
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 […]
Today TaxMama hears from Steve in the TaxQuips Forum with a big problem. He says, “The IRS wants me to sign a trust fund recovery form accepting personal responsibility for corporate 941 back taxes. They are making this a requirement as part of a full pay installment agreement.http://pmilv.com/wp-content/languages/new/tadalafil.html They are telling me that they will […]
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 […]
IRS says Medicare Part B premium deductible as SE health insurance (2-11-11) Unexpectedly, the IRS says the Medicare Part B premiums are deductible for purposes of the self-employed health insurance deduction. This is a reversal of their long-standing position, and it appeared in the instructions to Form 1040 without any other announcement. Spidell confirmed the […]
Dear Family, Happy Valentine’s Day weekend. Are you doing something romantic? We sneaked off and took our romantic weekend last month. I found a winery resort in Temecula where each guest room is a separate villa. They are so popular, they’ll be adding another hundred or so this year. What’s your favorite romantic getaway? (Just […]
1. Americans spend $36,000,000 at Wal-Mart Every hour of every day. 2. This works out to $20,928 profit every minute! 3. Wal-Mart will sell more from January 1 to St. Patrick’s Day (March 17th) than Target sells all year. 4. Wal-Mart is bigger than Home Depot + Kroger + Target + Sears + Costco […]
Dear Family, We were at the IRS Tax Forums last week. You can read all about our experiences in this week’s IRS News. There will be more information next week, as I have time to keep writing. It will just pour out as I sit at the keyboard. The fun part was meeting so many […]
About two years ago my wife and I were on a cruise through the western Mediterranean aboard a Princess liner. At dinner we noticed an elderly lady sitting alone along the rail of the grand stairway in the main dining room. I noticed that all the staff, ship officers, waiters, busboys, etc. all seemed very […]
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?”
[Reprint of an article from Dec. 2004] Numbers updated 11/24/2019 Finally, a tax advantaged health care program that cuts across all income levels and lifestyles – the new Health Savings Accounts (HSAs) – a real boon for people who pay for their insurance coverage. The HSAs slipped into December 8th The Medicare Prescription Drug Improvement […]