Restaurants can claim a federal income tax credit based on the share of FICA and Medicare ("employment") taxes that they pay on reported tip income to employees. In an ideal...
Posted by Elliot Kravitz, ATP on 03/05/2021
Getting paid for goods and service means one will pay income taxes on the value received. This is valid for every form of earning, alongside any interest coming from the investment....
One of the many documents your employer will ask you to complete is IRS Form W-4: Employee Withholding Certificate when you get a new job. The way you complete this Form determines...
Posted by Carmen Garcia on 02/17/2021
The FICA tax is the federal law on insurance contributions. The Federal Insurance Contribution Act is a federal payroll of the United States regulating social security and health insurance...
Audits, collections, taxes, and fees - these conditions can sow fear in taxpayers' hearts during tax season.You may be concerned that an error in your tax return could result in...
Have you received an email stating that you have filed a tax return electronically or that your tax return has been accepted or rejected by the I.R.S., but you know you have not filed...
What is a health expense reimbursement agreement (HRA)?A health reimbursement agreement (HRA) is an employer-funded plan that reimburses employees for eligible medical expenses and,...
Posted by Schneiderman and Friedman on 01/18/2021
Finding out your business's shape can seem like a chore, as there are many types of businesses to start. A good option is a limited liability company (LLC), which has some of the...
Being a self-employed, independent contractor, or working for a small business can seem like a dream. However, one downside is that you are unlikely to have access to a workplace pension...