The Social Security Administration (SSA) has added a new feature to its website. It is called “my Social Security” and can be found at http://www.ssa.gov/ by using the “my Social Security” menu option … [Read more...] about SOCIAL SECURITY STATEMENTS GO ONLINE
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“Nanny Tax” Considerations
Here's a snapshot of what you must do to steer clear of trouble with the IRS when you hire someone to take care of your children in the home. The trouble is that not paying the "nanny tax" is … [Read more...] about “Nanny Tax” Considerations
Fiscal Cliff Tax Planning
What is the fiscal cliff? From a tax perspective, it is the expiration of more than 50 temporary tax provisions (extenders), the expiration of the Bush 2001/2003 tax cuts, the expiration of the … [Read more...] about Fiscal Cliff Tax Planning
RECENTLY ANNOUNCED 2013 TAX ADJUSTMENTS
There are numerous tax law changes to occur beginning January 1, 2013 (assuming that Congress and the White House cannot agree to extend these tax provisions). While the items below are not … [Read more...] about RECENTLY ANNOUNCED 2013 TAX ADJUSTMENTS
Is The Person Hired An Employee Or An Independent Contractor?
The IRS and Dept. of Labor have an existing audit program to determine if business owners are properly classifying workers as independent contractors. In these audits, the burden of proof is upon the … [Read more...] about Is The Person Hired An Employee Or An Independent Contractor?
Tax Tips for the Self-Employed
There are many perceived benefits that come from being your own boss. If you work for yourself, as an independent contractor, or you carry on a trade or business as a sole proprietor, you are … [Read more...] about Tax Tips for the Self-Employed