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Corruption and Transparency
I. The Facts
Just days before a much-awaited donor conference, the influential International Crisis Group (ICG) recommended to place all funds pledged to Macedonia under the oversight of a "corruption advisor" appointed by the European...
Facts of day trading
Are you thinking of entering the fast-paced world of day trading? Arm yourselves with the information from this fact sheet on day trading.
What is day trading?
Day trading is an investment tactic that does online daily stock trading with a...
Home Based Business Tax Tips
Running a home based business reaps many wonderful tax deductions that other businesses some times may not claim. Unfortunately to many small business owners end up paying the government taxes every year because they are unaware or several small...
I Wanna Hold Your Hand: First Time Homebuyers
The Empowerment of Owning Your Own Home Purchasing a home is one of the most powerful and terrifying events of a person’s life. It is a challenge, but once this challenge is met with strategic planning, knowledge and excitement it becomes an...
Payroll Taxes
If you have employees, you are responsible for payroll taxes.
This is a term that lumps all the different forms of employment
taxes into one category known as "payroll tax". In reality,
payroll taxes encompass Federal and state income...
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Understanding Employee Taxes
Employee taxes can be one of the most difficult to understand
areas of running a business and hiring employees. If you don't
understand all of the complexities involving employee payroll
tax, it can also get you into a heap of trouble.
The first employee tax factor you should understand is what
taxes you are responsible for as an employer. There are three
employee taxes that you will be responsible for paying.
The first is Medicare and Social Security tax. This is often
referred to as FICA and provides welfare benefits funding for
senior citizens. As an employer you are responsible for paying
half of the FICA taxes and withholdings for your employee while
the remaining half is withheld from their paycheck.
You are also responsible for paying federal unemployment tax.
This tax funds the state unemployment benefits and the
administrative costs associated with those benefits. It is
important for you to know that you must pay federal unemployment
tax on the first $7000 earned by each person you employ during
the calendar year.
In addition to federal unemployment tax, you must also pay state
unemployment tax. These taxes are based on the location and size
of your business as well as the number of employees you employ.
Due to the fact that each state operates its own unemployment
program, these rates do tend to vary; so it's best if you check
with your own state's unemployment division for specific
details.
In addition to the taxes you must pay as an employer, you are
also responsible for withholding employee tax. Even though this
is the employee's contribution, it is your responsibility to
handle the employee tax withholding. You will need to pay close
attention to the employee tax form, or W-4, completed by the
employee in order to know exactly how much money you need to
deduct from the employee's paycheck. Usually the amount of money
you must withhold will depend on the number of
withholding
allowances claimed by the employee, their marital status and any
exemption from withholding taxes that the employee might claim.
It is very important that you stay on top of your employee's tax
forms because they have the right to change them by submitting a
new W-4. If an employee submits a new employee tax form, thereby
changing the amount of their withholding and you fail to deduct
the correct amount of money, you could be subject to penalties
by the IRS.
You will need to deposit both the taxes that you are responsible
for paying along with the employee tax withholdings in an
authorized depository for Federal taxes. You can do this by
either mailing or delivering your check or money order. These
taxes will be due either semi-weekly or monthly. Your employee
tax withholding due dates will be determined by the size of your
payroll, dictated by the schedule. Usually, however; if your
payroll is less than $2,500 every three months, you can file
quarterly. If your employee taxes are larger, you'll need to
file more often.
In addition to the employee taxes named above, recently there
has been much discussion in the media regarding a proposed
employee health tax. If instituted this tax would impose a $3000
tax on employers for each employee who is not covered by health
insurance. The intend of the proposed bill is to force employers
to cover more employees by health insurance; however critics of
the bill claim that the proposed employee health care tax will
only lead to more unemployment.
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Matt Bacak became "#1 Best Selling Author" in just a few short
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| Internal Revenue Service |
| The US government agency responsible for tax collection and tax law enforcement. Includes income tax forms, instructions, and agency publications. |
| www.irs.gov |
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| Tax Information for Individuals |
| Access to useful information, booklets and other tools from the Internal Revenue Service. |
| www.irs.gov |
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| Tax Center - Yahoo! Finance - Tax forms, tips and calculators. |
| Yahoo! Finance: Tax - Find all the resources you need for tax season. Review recent tax law changes, estimate your taxes, find tax tips and expert answers ... |
| tax.yahoo.com |
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| Taxes: Tax Planning, Tools and Advice - MSN Money |
| Microsoft's Tax Preparation site, in association with Tax Server. |
| moneycentral.msn.com |
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| Tax - Wikipedia, the free encyclopedia |
| Governments use different kinds of taxes and vary the tax rates: ... Taxes are most often levied as a percentage, called the tax rate, of a certain value, ... |
| en.wikipedia.org |
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| H&R Block | Taxes, Online Tax Preparation, Tax Software, Filing ... |
| Offers online and in-person tax preparation and tax software, mortgages, brokerage and financial services, consumer tips and tax planning information. |
| www.hrblock.com |
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| TaxCut Online | H&R Block | Online Taxes, File Taxes Online ... |
| File your Taxes online with TaxCut Online. Learn how to file taxes online here. |
| www.hrblock.com |
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| Income Taxes, Tax Returns, Refunds, Deductions and E-File Software ... |
| Popular tax preparation software by Intuit. Integrates with Quicken, spreadsheets and offers state by state electronic filing. |
| turbotax.intuit.com |
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| Taxes & Estates, Tax and Estate Planning Advice - Forbes.com |
| Personal Finance - Get tax and estate planning advice and information from Forbes.com. |
| www.forbes.com |
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| Essential Links to Taxes |
| TurboTax Premier For Federal Returns 2005 Win/Mac, TurboTax Total Tax Solution Deluxe 2005 with State Win/Mac, TurboTax Basic 2005 Win/Mac... ... |
| www.el.com |
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| Government > Taxes in the Yahoo! Directory |
| Yahoo! reviewed these sites and found them related to Government > Taxes. |
| dir.yahoo.com |
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| Taxes - Tax News for Home and Business from CNNMoney |
| The latest in tax law updates, news, forms & advice from CNNMoney.com. Includes a refund savings calculator, and interactive tax lessons. |
| money.cnn.com |
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| The Tax Foundation - Educating Taxpayers Since 1937 |
| Devoted to educating taxpayers about tax policy and the total tax burden borne by Americans at all levels of government. |
| www.taxfoundation.org |
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| Welcome to the Vermont Department of Taxes |
| Welcome to the Vermont Department of Taxes... ... Changes to Property Tax Adjustments in 2007 - updated 10/18. - Tax Expenditures Transition Report on ... |
| www.state.vt.us |
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| Franchise Tax Board Homepage |
| The department that collects state personal income taxes and bank and corporation taxes for the State of California. Access to forms and tax information. |
| www.ftb.ca.gov |
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| HM Revenue & Customs: Home Page |
| News and information on tax and national insurance, including downloadable leaflets and forms and the latest news on filing tax returns on-line. |
| www.hmrc.gov.uk |
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| State and Local Tax |
| Piper Resources; State Tax Rates and Structure ...Federation of Tax Administrators; State Payroll Taxes Information ...Symmetry Software ... |
| www.taxsites.com |
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| Quicken.com |
| www.quicken.com/taxes/ - 3k - Cached - Similar pages |
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| Tax news and advice from Bankrate.com |
| Information on all phases of tax planning and preparation. |
| www.bankrate.com |
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| Online Tax Advice - Tax Preparation Help - Income Tax Tips |
| Income Tax Tips - MarketWatch offers online tax advice and tips. ... IRS inflation adjustments mean tax break on next year's taxes. ... |
| www.marketwatch.com |
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