Hello New 2020 Federal W-4
As promised, the IRS released the final version of the new Federal W-4 form for use starting in 2020. Recall that a W-4 is a form filled out by an employee to tell the employer how much to withhold…
Connie Scurr, CPA (inactive)
Work Opportunity Tax Credit
The Work Opportunity Tax Credit (WOTC) program is a federal tax credit that gives employers an incentive to hire workers in target categories. These target groups are considered individuals that have “significant barriers to employment”. The program allows employers to…
Education is the best solution when we have to make a change
The IRS has released a new draft version of the federal W-4.
Child and Dependent Care Tax Credit
Often times a major financial burden to people with young children is paying for their care. The good news is there is some relief. This credit is available to almost anyone who has a dependent and has earned income. This…
Perplexed by Payroll Taxes??
Payroll taxes can seem like a maze with many twists and turns and you may feel like you are at a dead end. The key to breaking through this initial confusion is to identify two different paths related to payroll…
Tis the season…….
During this holiday season, in addition to being on the lookout for that perfect gift, also be on the lookout for your annual letter from BakerStarrett requesting 1099 and W-2 information and updates for the 2018 tax year. You may…
Payroll 101
If your business has employees, you’ll have to do payroll. There’s no way to avoid it, but what really is payroll? There are 4 basic components to payroll: Paying employees compensating employees for the work they do Withholding and paying…
2018 W-4 Has Arrived
The Internal Revenue Service has released the updated Form W-4 (here) for 2018. Along with the W-4, they have released an updated Withholding Calculator to help taxpayers check their 2018 tax withholding following the Tax Cuts and Jobs Act that was…
New 2018 Payroll Withholding Tables Released
The Internal Revenue Service has released updates to the income tax withholding tables for 2018 which reflect the changes made by the recent tax reform. Their goal was to design the new withholding tables to work with the Form W-4’s…
Do I need to fill out a new W-4 due to tax reform?
With tax reform taking place, a big question that is getting asked is “Do I need to be filling out a new W-4 to reflect the changes?” A statement was put out by the IRS stating that they are working…