All workers and employers in the service industries where tips occur should abide by the relevant tax rules. One needs to pay income tax, Medicare tax, and Social security taxes on...
Posted by Jim McClaflin, EA, NTPI Fellow on 04/09/2021
Fringe benefits can be defined as a type of payment offered for the rendering of services. An example is when the workers are served a meal at lunch during work. This, however,...
Posted by Thomas G Kinsella, ATP on 03/16/2021
The social security program is financed mainly by payroll taxes. This means that workers' taxes today will help fund retirees' benefits, and as soon as they start receiving...
Posted by Carmen Garcia on 01/31/2021
Is social security taxable? The most straightforward answer is yes, social security is subject to tax. The obligation or payment of other taxes on social security benefits depends...
People now believe and also prefer to work much beyond before their traditional age approaches. This is because they wish that their social security taxes are minimized. They also...
Posted by BEST FINANCIAL GROUP LTD on 07/16/2018
Among all the social program in the country, Social Security is undoubtedly the most significant. For millions of elderly Americans, it is their financial rock because they get the...
Posted by Duce Taxes & Accounting on 11/30/2018
What is the Social Security Tax?Social Security tax is usually collected in the form of payroll tax or self-employment tax. It is levied on both employers and employees to fund the...
Posted by Valderas Financial Solutions LLC on 08/01/2018
When you move abroad, there are a lot of things which need to be addressed. You might skip on the social security tax consequences of working abroad and may realize it later. Well,...
Posted by Valderas Financial Solutions LLC on 06/30/2018
Starting a business can be thrilling, motivating – and you are full of hope that you will one day be able to turn your small business into an empire. While this motivation is...
Posted by RKL Tax Service LLC on 10/30/2015
