what taxes do I have to deduct and pay for a part time employee?

what taxes do I have to deduct and pay for a part time employee?
by

1 Answer

Answer :

According to the IRS website, several taxes must be withheld (unless your employee is an independent contractor). If the employee is an independent contractor you must fill out form SS-8, determination of worker status, which can be found on the IRS website. If not, then the employee is responsible for paying Federal income tax withholding, Social Security and Medicare taxes and Federal unemployment taxes (FUTA). More information can be found at irs.gov/newsroom.
by

Related questions

What do I need in order to deduct uniforms from my taxes?

Description : What do I need in order to deduct uniforms from my taxes?

Last Answer : For all tax items, you need to have a receipt. If you don't have the receipt, then you shouldn't deduct it, because when the taxman comes calling, he wants to see those receipts, not any ... having the receipt, or unless there's a set amount of deductions you can claim without needing a receipt.

Can I deduct the price of my property rental from my taxes?

Description : Can I deduct the price of my property rental from my taxes?

Last Answer : If you are the one renting the property you can not deduct this from your taxes. If you are the landlord you can receive a deduction on your taxes for owning the property.

Can I deduct the expenses from my home repairs on my taxes?

Description : Can I deduct the expenses from my home repairs on my taxes?

Last Answer : No. Home improvements are added to the tax basis of your property, home repairs are maintain the good condition of your home. They cannot be deducted from your taxes or added to the tax basis ... Depending on if the repairs were also energy efficient you are able to deduct some of those expenses.

What amount can I deduct from my taxes for a charitable car donation?

Description : What amount can I deduct from my taxes for a charitable car donation?

Last Answer : You can deduct about 500 dollars through car donation

Will I be able to deduct a portion of my local property taxes from my NY state income tax?

Description : Will I be able to deduct a portion of my local property taxes from my NY state income tax?

Last Answer : No. However, you can deduct property taxes from your federal tax liability.

To get the Net National Product, we deduct what from the Gross National Product: A. Direct Taxes B. Imports C. Interim payments D. Loss

Description : To get the Net National Product, we deduct what from the Gross National Product: A. Direct Taxes B. Imports C. Interim payments D. Loss

Last Answer : D. Loss

The credit terms offered to a customer by a business firm are 2/10, n/30, which means that a. the customer must pay the bill within 10 days. b. the customer can deduct a 2% discount if the bill is paid between the 10th and 30th day from the invoice date. c. the customer can deduct a 2% discount if the bill is paid within 10 days of the invoice date. d. two sales returns can be made within 10 days of the invoice date and no returns thereafter.

Description : The credit terms offered to a customer by a business firm are 2/10, n/30, which means that a. the customer must pay the bill within 10 days. b. the customer can deduct a 2% discount if the ... date. d. two sales returns can be made within 10 days of the invoice date and no returns thereafter.

Last Answer : c. the customer can deduct a 2% discount if the bill is paid within 10 days of the invoice date.

They pay a dividend to their employee and deposit the dividend in a for-profit interest-bearing bank. What is the ruling ? I work in an aluminum factory in Canada. At the end of each year the company pays employees a portion of the profits. They pay employees a portion of the cash. Another part is c

Description : They pay a dividend to their employee and deposit the dividend in a for-profit interest-bearing bank. What is the ruling ? I work in an aluminum factory in Canada. At the end of each year ... ; Such as interest bank , alcohol hall , cigarettes , other things and other investments of interest banks.

Last Answer : Alhamdulillah. The portion that the company pays at the end of each year is a portion of the employee's remuneration and salary. Since this money is kept separately in a specific account for the employee ... part. Will try to determine the amount of haram part as much as possible. GOD is Omniscient.

Can i deduct my full time student son on my tax return?

Description : Can i deduct my full time student son on my tax return?

Last Answer : Yes, if you’re providing 50% of his expenses.

I throw litter out of my car on a regular basis,is this wrong seeing that i pay my taxes and part of my tax money goes to help keep the streets clean it also keeps people in work?

Description : I throw litter out of my car on a regular basis,is this wrong seeing that i pay my taxes and part of my tax money goes to help keep the streets clean it also keeps people in work?

Last Answer : Yes. It’s wrong. The hospital also patches up people who have been shot. It doesn’t mean you should help keep them necessary.

Why would a transaction marked "credit" with a positive value deduct from my available balance at the bank?

Description : Why would a transaction marked "credit" with a positive value deduct from my available balance at the bank?

Last Answer : If your bank hasn’t verified the funds from the entity giving you the credit yet, they won’t make it available for you to access.

My mother died last year. Donated 99% of her property to Goodwill. What percentage can I deduct on my 2011 tax return?

Description : My mother died last year. Donated 99% of her property to Goodwill. What percentage can I deduct on my 2011 tax return?

Last Answer : answer:Here is the IRS publication that discusses these issues. Excerpt: In general, contributions to charitable organizations may be deducted up to 50 percent of adjusted gross income ... , however. Exempt Organizations Select Check uses deductibility status codes to indicate these limitations.

Do you think the government should be able to deduct SS from a veterans VA disability compensation each month?

Description : Do you think the government should be able to deduct SS from a veterans VA disability compensation each month?

Last Answer : It prevents “double dipping”.

Did you catch the Olympics Pairs Figure Skating yesterday ? The judges gave the gold to the pair who made a deduct a point kind of mistake and the the silver to the flawless pair. Has anything started in the way of contest?

Description : Did you catch the Olympics Pairs Figure Skating yesterday ? The judges gave the gold to the pair who made a deduct a point kind of mistake and the the silver to the flawless pair. Has anything started in the way of contest?

Last Answer : Well I figured they (the judges) know better and maybe because the gold medalists were skating forever (over 18 years) and this was their last chance and then they were going to go off and make babies after and also because Canada is afraid of China (okay the last two reasons are false)

Is it legal to deduct med. insurance premiums on Fed or state tax returns?

Description : Is it legal to deduct med. insurance premiums on Fed or state tax returns?

Last Answer : I'm not an accountant, but I do believe you can deduct your med premiums up to the limit of your percentage of adjusted gross income

can they deduct points from me without my knowledge?

Description : can they deduct points from me without my knowledge? Am I getting any notifications?

Last Answer : What points? Figure skating?

Can you deduct college alumni dues?

Description : Can you deduct college alumni dues?

Last Answer : What is the answer ?

What ancient culture had the proverb that 'The Gods do not deduct from man's allotted span those hours spent in sailing'?

Description : What ancient culture had the proverb that 'The Gods do not deduct from man's allotted span those hours spent in sailing'?

Last Answer : A Babylonian proverb.

as a subcontractor can the person i sub from deduct money from my last check for workers comp?

Description : as a subcontractor can the person i sub from deduct money from my last check for workers comp?

Last Answer : If you are paid a wage or a salary for temporary work, the employer must deduct ALL taxes, social security and workers comp. If you are a subcontractor paid on a 1099, (which means YOU will ... agreement you have with the contractor. He cannot, however, just take out workers comp and nothing else.

Deduct Your Laptop Computer Expense?

Description : Deduct Your Laptop Computer Expense?

Last Answer : Are you a blogger at home? Do you run a hair business at home? Whatever the case, you may be able to deduct the expense of a laptop computer for your personal business. Do not forget to ... hair stylist may also deduct the expense of a laptop computer if she uses it so make hair appointments.

Deduct an Office Space?

Description : Deduct an Office Space?

Last Answer : One of the greatest deductions you can claim as a business owner is an office space expense. The reason an office space expense adds up so much is due to the high rental fees or mortgage payments a ... size of the entire room too. The deduction depends on the size of the office space in your home.

From Subsistence allowance the employer can deduct GPF subscription The above mentioned statement is a. True b,False

Description : From Subsistence allowance the employer can deduct GPF subscription The above mentioned statement is a. True b,False

Last Answer : b,False

In order to find out the value of the closing stock during the end of the financial year we, A) do this by stocktaking B) deduct the cost of goods sold from sales C) deduct opening stock from the cost of goods sold D) look in the stock account

Description : In order to find out the value of the closing stock during the end of the financial year we, A) do this by stocktaking B) deduct the cost of goods sold from sales C) deduct opening stock from the cost of goods sold D) look in the stock account

Last Answer : Answer: A

Do employers pay more when a former employee collects unemployment?

Description : Do employers pay more when a former employee collects unemployment?

Last Answer : Good question. I don't understand it either. When the sandwhich shop I worked at closed down, I collected UI. And I'm in California. My boss who had to close the shop also filed. So in that sense ... weeks, my UI gave me about 240 every two weeks. I'm interested in the final answer to your question.

It's illegal for an employer to pay less than minimum wage, but what if it's what the employee wants them to do?

Description : It's illegal for an employer to pay less than minimum wage, but what if it's what the employee wants them to do?

Last Answer : answer:Paying less than minimum wage, except in some service industries where it is assumed tips will make up the difference, is a violation of federal regulations. I lived in an area where the crew at ... resolved when the workers were put on part time and the mill was open only 30 hours a week.

Is there a pay of free site that let's you know ones email address and/or current employee of that somebody?

Description : Is there a pay of free site that let's you know ones email address and/or current employee of that somebody?

Last Answer : answer:

as a noncommissioned employee in a company, your pay rate is most likely based on -General Knowledge

Description : as a noncommissioned employee in a company, your pay rate is most likely based on -General Knowledge

Last Answer : As a noncommissioned employee in a company, your pay rate is most likely based on the going rate for your job.

How much should an employee pay?

Description : We take money in a company up to 25. isn't it illegal? I took everywhere until the 17th of the month.

Last Answer : At any time in the month following the month in which the work is performed, ie from the first to the last day of the following month. The date of payment should be specified in the employment contract together with the amount of salary and any salary supplements (remuneration)

How much is this employee contributing to his her retirement savings plan each pay period?

Description : How much is this employee contributing to his her retirement savings plan each pay period?

Last Answer : What is the answer ?

. A credit memorandum is prepared when a. an employee does a good job. b. goods are sold on credit. c. goods that were sold on credit are returned. d. customers refuse to pay their accounts.

Description : . A credit memorandum is prepared when a. an employee does a good job. b. goods are sold on credit. c. goods that were sold on credit are returned. d. customers refuse to pay their accounts.

Last Answer : c. goods that were sold on credit are returned.

Write a program to implement the concept of virtual base class for following figure. Accept and display information of one employee with his name, code, basic pay, experience and gross salary with the object of employee class.

Description : Write a program to implement the concept of virtual base class for following figure. Accept and display information of one employee with his name, code, basic pay, experience and gross salary with the object of employee class.

Last Answer : #include<iostream.h> #include<conio.h> class Master  {  char name[10],code[3];  public:  void acceptM() { cout<<"\nEnter name and code "; cin>>name>>code; ... .displayM(); e.displayA(); e.displayD(); e.displayE(); getch();  }

Is this a reasonable request regarding paid time off for a part-time employee?

Description : Is this a reasonable request regarding paid time off for a part-time employee?

Last Answer : You are part time. I would expect your employer to let you schedule vacation time (so you are not in the office on your regular schedule) but not pay you. Paid Time Off (PTO) usually applies to employees working more than 25 hours a week.

How much is the travel allowance for per diem positions? And no health insurance even if you work as many hours as a part-time employee?

Description : How much is the travel allowance for per diem positions? And no health insurance even if you work as many hours as a part-time employee?

Last Answer : answer:What state requires employers to provide health insurance? With a few limited exceptions, the costs of commuting between home and work are nondeductible personal expenses. If an employer pays an ... most likely receive a form of additional wages, fully subject to income and payroll taxation.

Do you pay taxes if you buy an island and how much?

Description : Do you pay taxes if you buy an island and how much?

Last Answer : Depends on where the island is? Where is said island?

How would it work out if your voting power was decided by how much taxes you pay?

Description : How would it work out if your voting power was decided by how much taxes you pay?

Last Answer : I don’t think that would work so well. The rich people would get more votes out.

Do I have to pay taxes on my deceased father's p/u truck in order to put it in my name?

Description : Do I have to pay taxes on my deceased father's p/u truck in order to put it in my name?

Last Answer : You’ll have to go online for Idaho. Each state is a little different. In mine, yes you’d need a personal property tax receipt, even if it was paid. Should all be in the glovebox I’d think from his last time registering.

Do you have to pay taxes on an insurance settlement?

Description : Do you have to pay taxes on an insurance settlement?

Last Answer : When I got a settlement for an accident, I asked several times, and was told I do NOT have to pay taxes on that.

What state do you pay taxes to if you work at home, but are employed by a company in another state?

Description : What state do you pay taxes to if you work at home, but are employed by a company in another state?

Last Answer : The company address on your pay stub, is where you are taxed from if you get a W-2 at the end of the year. If you are a contractor and the 1099 form is the tax form issued by the company than it is where you work from ( Missouri ).

Do you have to pay sales taxes on intangible things sold on the internet?

Description : Do you have to pay sales taxes on intangible things sold on the internet?

Last Answer : It is a service they pay for, so taxes apply in any case, and yes, it is always your responsibility.

Do you pay estimated taxes as a freelancer?

Description : Do you pay estimated taxes as a freelancer?

Last Answer : What do you do?

Republicans: Can we agree to raise taxes enough to pay back the money spent on the wars?

Description : Republicans: Can we agree to raise taxes enough to pay back the money spent on the wars?

Last Answer : How much would we have to raise and how would we raise taxes, @JLeslie?

Does it bother you that the tax laws are set up so that the very rich (i.e. Mitt Romney) pay a smaller percentage of taxes than you probably do?

Description : Does it bother you that the tax laws are set up so that the very rich (i.e. Mitt Romney) pay a smaller percentage of taxes than you probably do?

Last Answer : Sure: I think it bothers most of the 99%.

Are people allowed to pay more taxes than asked for? How would someone go about asking for permission to do so?

Description : Are people allowed to pay more taxes than asked for? How would someone go about asking for permission to do so?

Last Answer : There are people that would do that??

Do you pay state income taxes or do they refund you like federal income taxes do?

Description : Do you pay state income taxes or do they refund you like federal income taxes do?

Last Answer : The last 4 years, I have had to pay the Feds, and got less money back from the State.

When do I have to pay taxes if I'm given stock options for services?

Description : When do I have to pay taxes if I'm given stock options for services?

Last Answer : Is the company stock listed publicly? Where do you live? Options are different to actual stocks. Be careful.

What do you do when your boss refuses to pay you, I asked him to hold out taxes, or 1099 me. he keeps telling me the checks have not cleared the bank!

Description : What do you do when your boss refuses to pay you, I asked him to hold out taxes, or 1099 me. he keeps telling me the checks have not cleared the bank!

Last Answer : answer:Tell him if he does not pay up. You are going to notify the state, and IRS (tax fraud) and local police department (civil). You will also be contacting the better business bureau (price gouging) ... promised you would be paid. You need to see this as if you will never see your money again.

How do I legally trade cars with my daughter and not have to pay taxes?

Description : How do I legally trade cars with my daughter and not have to pay taxes?

Last Answer : Welcome to fluther, @eddieboy. I don’t know, just wanted to welcome you. :-)

What do you think I'll have to pay in taxes next year...

Description : What do you think I'll have to pay in taxes next year...

Last Answer : Look online for Tax Tables. They’ll show you, by income category, what you’ll pay.

How did Americans pay taxes before 1922?

Description : How did Americans pay taxes before 1922?

Last Answer : answer:it was originally handled by IT officers that were part of sanctioned local government. It was not heavily enforced and, even in large towns, there were only a handful of IT officers on staff. Often times IT would be handled by “Land Revenue Officers” Highest Regards, Daniel Riser