Philip Locker, left, and four other political consultants have been working as independent contractors for council member Kshama Sawant's reelection campaign, meaning the campaign isn't required to pay payroll taxes for their work. Anna...Show More Summary
It’s tax day today. The federal government collected over $3 trillion in taxes in 2014, according to the Office of Management and Budget, with $1.4 trillion coming from individual income taxes and another $1 trillion from payroll taxes. For...Show More Summary
No Virginia. The One Percent don’t dodge federal taxes. In 2013, they paid 35.7 percent of their income in federal taxes. Low-income households don’t dodge, either. While many paid no income tax, nearly all paid payroll tax. You can...Show More Summary
The current New York State minimum wage is $8.75/hour. Imagine trying to live on that. It comes out to about $1,400 a month, before any payroll taxes or deductions. Rent in a poor neighborhood in the Bronx is about $1,000/month. A Metrocard costs $116.50. That doesn't leave a whole lot left over for anything else—say food, or clothes for your kids. [ more › ]
Readers asked how the U.S. tax burden is shared among different income groups when payroll taxes as well as income tax are considered. Here's the answer.
You already have to worry about identity theft and tax refund fraud. Now you must worry about payroll tax fraud too.
It can happen to the best of us. Former Treasury Secretary Timothy Geithner failed to pay nearly $35,000 in Social Security and Medicare payroll taxes from 2001 through 2004. Five-time Grammy winner Lauryn Hill served prison time for owing roughly $2.3 million in taxes. ...
Temporary employment agencies have become a more prevalent part of the American work experience since the 2007 financial crisis and the difficult economic times that followed. While on one hand, temporary employment agencies can provide workers with an entry point into a new industry, on the other hand they require payment for their placement services […]
Taxes, payroll, policies…oh my! If the thought of hiring your first few employees leaves your head spinning, the business attorneys of Michael L. Feinstein, P.A. can help put you at ease. With our business formation and consultation services, we can guide you through the process safely and confidently, thereby freeing up your time for more...
While policymakers obsess about the income tax, they often lose sight of an important detail: For two-thirds of households, the levy that matters most is the payroll tax. According to a new report by the Joint Committee on Taxation, the 80 million tax filers making $40,000 or less will collectively pay no federal income tax and many […]
Back in 2010, America's primary retirement vehicle, the Social Security Trust Fund, did something it had not done in three decades done: it went cash negative, meaning that the costs were greater than the payroll tax revenues as a result...Show More Summary
Tax fraud can bring big penalties, and the government is especially unforgiving when payroll taxes are at stake. The withheld money is trust money that belongs to the government, and they don't want you to forget it.
Allgreens, a medical-marijuana dispensary in Denver, has won its cash payment battle with the Internal Revenue Service. The IRS demands electronic payroll tax deposits. Allgreens, however, began making its federal employee withholding...Show More Summary
Paying employees in cash and cheating on payroll taxes has a price, and you can't pay it in poker chips.
NSW Small Business Minister John Barilaro’s push to create a special policy for entrepreneurs and abolish payroll tax could give start-ups in the state a major fillip.
Fake payroll tax emails carrying the malicious Cryptolocker virus are circulating in Australia.
February sure lived up to its status as the shortest month of the year. We got to the end of it, and the potential tax moves to make, so dang quickly. Today means we're almost halfway through with the 2015 tax filing season, which officially began on Jan. Show More Summary
Many taxes feature an exclusion or rebate for people at the bottom of the income scale. Payroll taxes are one of the very few that feature an exclusion for the wealthy, even the extremely wealthy. The more money you make the bigger your tax benefit. Show More Summary
For this week's tax map, we're continuing our series on pass-through businesses. For the first map of the series, check out our map from last week. Sole proprietorships, S corporations, limited liability companies (LLCs), and partnerships are also known as pass-through businesses. Show More Summary