Rep. Mick Mulvaney, Donald Trump’s nominee for White House budget director, apparently doesn’t know much about payroll taxes. The New York Times reports he admitted to not paying state or federal taxes for a babysitter he and his wife employed. Read more...
WASHINGTON (AP) — Rep. Mick Mulvaney, President-elect Donald Trump's choice to run the White House budget office, failed to pay more than $15,000 in payroll taxes for a household worker more than a decade ago, prompting the Senate's top Democrat to issue a statement saying the lapse should disqualify his nomination. [...]Show More Summary
The disclosure that the nominee, Mick Mulvaney, failed to pay more than $15,000 in payroll taxes for a babysitter raised questions about his nomination.
President-elect Donald Trump’s choice for White House budget director “failed to pay more than $15,000 in payroll taxes for a household employee, he admitted in a statement to the Senate Budget Committee, the sort of tax compliance issue that has [...]
The point is that a country like Italy or Greece is not trapped by being in the euro. It could increase its competitiveness by raising value-added taxes on consumption and cutting payroll taxes. That is from Arnold Kling, channeling Gita Gopinath. The interview with her at the link is worth reading. The post Euro sentences to ponder appeared first on Marginal REVOLUTION.
Relative strength in withholding tax collections tended to support the growth in nonfarm payrolls throughout 2016. But what if both sets of data are misleading? What if employers are acting irrationally in adding jobs when their order books don’t justify it? Employers often take their hiring cues from the stock market. Show More Summary
In a 8 to 5 vote, D.C. Council says no to employer mandate, paving way for a payroll tax
Last week I wrote about the unintended consequences of the proposed DC family leave benefit, which is to be financed by a payroll tax on all employers in the District. My objections were that the tax increases the cost of operatingShow More Summary
Today is November 29, the date in 1977 when the U.S. Supreme Court decided Commissioner v. Kowalski, which held that taxable income includes cash payments replacing a previous employer-provided direct benefit. Robert Kowalski was a New Jersey state trooper who did not report as income on his tax return $1,371.09 in meal allowances he had received. Show More Summary
D.C. Council Chairman Phil Mendelson (D) yesterday released his compromise paid leave proposal, after developing it over the past several months. Key elements: A 0.62 percent payroll tax on all employers in the District (except the federal...Show More Summary
Programming note. The Tax Update will take off the rest of the week for Thanksgiving. See you Monday! IRS>Employees. Pay the […]
Donald Trump needs to pivot fast on his core economic program and embrace cutting payroll taxes for the working class, not income taxes for the elites. That means jettisoning the campaign's $3.3 trillion individual income tax cut (10-years),...Show More Summary
So barring a revelation that he hasn't revealed his tax returns because he's been raking in the rubles on Putin's payroll, Donald Trump will be sworn in as the 45th President of the United States of America in January. You may be considering...Show More Summary
If you've got a babysitter or nanny, then you need to pay taxes on their income. Learn how to pay "nanny taxes"---and why you must. It’s A Headache, But You Really Need To Pay Payroll Taxes For Your Nanny appeared first on Money Under 30. © Moneyblogs, LLC.
DARRIN T. MISH: Welcome to the IRS Solution Attorney show, I am THE IRS solution attorney Darrin T. Mish. KATRINA MADEWELL: And I’m your co-host Katrina Madewell thank you so much for joining us today. DARRIN T. MISH: How are you doing today Katrina? KATRINA MADEWELL: I’m doing fantastic. Show More Summary
As a California employer, you are responsible for making payroll tax payments to the California Employment Development Department and the IRS. These payroll tax deposits must be made regularly, often monthly or weekly as taxes are withheld from payroll disbursements. If you become behind on making these deposits, you could face serious consequences and personal […]
Get cracking, payroll departments. Billions of dollars in theft losses too late, the IRS is finally getting serious about ID-theft tax […]
The former head of a Hollywood payroll company that collapsed eight years ago has been convicted of tax fraud, marking the end of a notorious entertainment industry crime story. John Visconti, the former chief executive of Axium International Inc., was convicted Wednesday by a federal jury after...
The former CEO of Axium International, once one of the entertainment industry's leading payroll companies, has been convicted of tax evasion, conspiracy to defraud the IRS and filing a false tax return. John Visconti, 74, was found guilty of the charges by a federal jury Wednesday following a one-week trial in U.S. Show More Summary
Democratic Vice Presidential nominee Tim Kaine suggested in the debate last week that a Clinton administration would address Social Security’s unsustainable fiscal trajectory by “focusing primarily on the payroll tax cap,” increasing it substantially from its current ceiling of $118,500. Show More Summary