Today TaxMama® hears from Nic in the TaxQuips Forum, with this common misconception. “Nic is disabled and withdrew his money from his retirement plan. Now he’s trying to figure out how to avoid paying taxes on this money.”
Tag Archives: Withholding tax
Today TaxMama® hears from Shauna in the TaxQuips Forum, with this news. “I just found out that I was pregnant and my baby is due in October. Would it be smart to add my unborn child to my W-4 now? Also which would I come out better doing, claiming head of household or just single […]
Today TaxMama® hears from Ben in the TaxQuips Forum, with a question that raises another common issue. Let me summarize the issue. “Quite often when two people become partners, one of them ends up doing more work for the business than the other. How can you split the partnership income so each person still gets […]
Today TaxMama® hears from Lisa in the TaxQuips Forum who wants clarification. “Is there any way to amend an old tax return and receive a refund after the 3 year limit? I think you briefly touched on this in the CPE Link webinar last week.”
Today TaxMama® hears from Robert in the TaxQuips Forum who is suspicious. “I am a 1099’ed contract driver. I recently noticed they are taking taxes out of my check. I was told that they take taxes out, then make quarterly payments to federal income tax. I have worked as contract labor before and they didn’t […]
Changing Your Payroll Withholding Right about now, if you haven’t already done it, you should be thinking about updating your current year’s paycheck withholding. Once upon a time, a tax professional was asked by an Enrolled Agent to write an article about how to do the proper computations to determine what exemption and dependent amounts […]
Today, President Obama will be signing the HIRE Act – Hiring Incentives to Restore Employment (HIRE) Act (H.R. 2847). We’ve been waiting for this all month, since the Senate passed their version of the Bill in early March. What’s in it for you? Good News! It’s going to be easier to get a job according […]
WASHINGTON — The Information Reporting Program Advisory Committee (IRPAC) today released the advisory group’s 2009 recommendations on a wide range of tax administration issues. Based on its findings and discussions, IRPAC made more than 50 recommendations on a broad array of issues and concerns Internal Revenue Service-wide, key among them: Creating a new form and […]
Courtesy of Spidell Publishing Inc. www.caltax.com The 2009–10 budget revision does not contain any new taxes, but includes tax accelerations that bring money in earlier, so we will likely revisit the fiscal crisis later. Here are the tax changes contained in ABX4 17 and ABX4 18. Estimated tax payments: Requires individual and corporate estimated tax […]
Today TaxMama hears from Tia in Michigan who tells us. “I’m 17 years old with a job at Burger King.https://theteacherpreneur.com/wp-content/languages/new/dissertation-writing-help.html How much money is taken out of my check due to taxes?”
Today TaxMama hears from Jackie who has this problem, “I got a bill from IRS for 2002 taxes. They say I owe $22,000. But I learned that they do not have all my W-2 withholding credited. How long do I have to file an amendment? And should I hire a tax attorney?”
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