New W-4 Form for Withholdings
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New W-4 Form for Withholdings As we discussed in our PayDay a month ago titled “2018 Tax Tables and W-4 Changes” the IRS did just release both a new 2018 W-4 and…
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10 Common Payroll/Tax Errors
Accurate processing of payroll and all related payroll tax deductions and payroll tax reports is much more complex than many people believe. Based on AccuPay’s experiences dealing with 1,000s of…
Read More HOW TO READ YOUR W-2
Years ago, W-2 forms were fairly straight-forward, reporting wages paid to your employees along with tax withholdings. The days of simple W-2’s are long gone! Wages reported in boxes 1, 3…
Read More 1099 RULES FOR PEOPLE YOU PAY
Most organizations pay independent contractors or “freelancers” for various services, including cleaning, maintenance, odd jobs, etc. You are required to report annual payments of $600 or more to individuals on…
Read More 10 TIPS ON DRAFTING AN INDEPENDENT CONTRACTOR AGREEMENT
In our previous PayDay titled “Employee or 1099-Be Careful“, we discussed numerous factors which the IRS and DOL analyze to determine whether a worker should be classified as an “employee” or an…
Read More AVOID DOL PENALTIES – 401(k) DEPOSIT RULES
The U.S. Department of Labor (DOL) regulates the timing of an employer’s payment of 401(k), 403(b) and SIMPLE-IRA retirement plan employee “elective deferrals.” If payments are not timely made, costly…
Read More Box 14, W-2 Employee Tax Form Information
Entering helpful information in Box 14 of your employees’ annual W-2 forms can assist them in their annual personal tax preparation – and limit the number of questions employees ask…
Read More PART-TIME WORKERS
Classification of a worker as an employee or a “1099 person” has nothing to do with whether they are full-time, part-time or seasonal. The number of hours worked is not…
Read More HOW TO READ YOUR W-2
Years ago, W-2 forms were fairly straight-forward, reporting wages paid to your employees along with tax withholdings. The days of simple W-2’s are long gone! Wages reported in boxes 1,…
Read More 1099 RULES FOR PEOPLE YOU PAY
Most organizations pay independent contractors or “freelancers” for various services, including cleaning, maintenance, odd jobs, etc. You are required to report annual payments of $600 or more to individuals on…
Read More