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What are the employment tax consequences of a worker being classified as an...
Payroll Service For Small Businesses – If the worker is an employee, the employer may be required to withhold federal income tax, Social Security and Medicare tax and may have to pay federal...
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What are the common law rules for determining whether a service provider is...
Payroll Service For Small Businesses – The common law tests are subject to various formulations but control by the service recipient over the service provider is the primary factor that establishes an...
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WHAT IS THE NET INVESTMENT INCOME TAX?
Income Tax Service For Small Businesses – The Net Investment Income Tax is a 3.8% tax on certain net investment income of individuals, estates, and trusts with income above statutory threshold amounts,...
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Are contributions made to qualified retirement plans subject to FICA, FUTA...
Payroll Service For Small Businesses – Generally, no. Employer contributions to a qualified pension, annuity, profit-sharing or stock bonus plan, simplified employee pension (SEP), and §403(b) plans...
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Are tips subject to employment taxes?
Yes. However, tips paid in cash and received by an employee are exempt from FICA, FUTA and income tax withholding if the aggregate amount of tips received during any calendar month is less than $20....
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Is withholding required on damages or settlements for claims for personal...
Payroll Service For Small Businesses – Generally, no. The amount of any damages (other than punitive damages) received as the result of a suit or settlement agreement on account of personal physical...
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