Tax exemption is the right to exclude from tax certain amounts of income or assets.Being tax-exempt or having a tax exemption seems like a way to lower your tax bill, but it can cause...
The payment of income tax is a reality. And when Uncle Sam says income, he is talking about all the money you make, whether it's from your job or your investment. This includes...
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
State laws generally govern the gaming industry. These laws can be very or less strict, depending on how the state views the industry, and most laws are aimed at promoting responsible...
If you have hired a gardener, nanny, cleaner, or other types of worker for household work, the law requires you to pay state and federal payroll taxes. This article sheds light on...
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...
All employees that were fired through whatever means except their own fault qualify for unemployment insurance – a joint program between the federal and state government that...
One of the most common mistakes businesses make is not having the right status for a worker. The options are employees or self-employed.An independent contractor (IC) carries out an...