Author's posts
Jul 20
THE IRS DOES NOT CAPTURE YOUR E-MAIL ADDRESS
Since the IRS does not capture your e-mail address, you can rest assured, any e-mail from the IRS is probably a scam. Beware of these scams, some we have listed below for your information: * E-mails claiming to come from tax-refunds@irs.gov, admin@irs.gov and similar variations told the recipients that they were eligible to receive a …
Jul 12
Summer Day Camp Expenses May Qualify for a Tax Credit
Summer has really landed with a blast of hot air! Along with the lazy, hazy days of summer come some extra expenses, the air conditioning bill is ratcheting up and the kids are wanting to get out of the house and head to summer day camp. But, there is some good news for parents: those …
Jul 08
FUTA Surtax Expired
The /Federal Unemployment Tax Act/ (FUTA) surtax expired on July 1. This temporary surtax of 0.2 percent has been extended eight times since it was originally enacted in 1976. Employers need to separately track FUTA taxable wages paid before July 1 at the 6.2 percent tax rate and track FUTA taxable wages after June 30 …
Jul 06
MISCELLANEOUS INCOME
What is Miscellaneous Income and (most importantly) is it taxable income? Almost everybody understands that wages, salaries, tips, commissions, interest and dividends earned are included as income on their tax return. But what about that “side job†where CASH was received? This, as well as awards, prizes, contest winnings & gambling winnings, just to name …
Jul 01
Are you an employee, self-employed or an independent contractor?
The question of whether you are an employee or a self-employed independent contractor is very important and may not always be easy to answer. You should understand the category you fall under, since it will affect how you pay your taxes. You are an employee if: Your payer (the company you work for/with) has the …
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