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Employers generally must withhold income tax from employees’ wages. To figure out how much tax to withhold, you need to use the employee’s Form W-4, the appropriate method and the appropriate withholding table described in Publication 15-T, Federal Income Tax Withholding Methods. You’ll deposit your withholdings based on your business and the amount you withhold. File […]

As an executor, you have a long list of duties and a fiduciary obligation to act in the best interest of the estate and its heirs. You also have anxious beneficiaries who already are dealing with grief. One of your many tasks is to keep beneficiaries informed of the progress in settling the estate’s affairs. […]

Thanks to the Family and Medical Leave Act, companies that employ 50 or more people are required to offer up to 12 weeks of unpaid leave per year to all eligible employees.  Who is eligible for unpaid leave under the Family and Medical Leave Act? Employees with the following circumstances are eligible for FMLA unpaid […]

Are you having the right amount of tax withheld from your paycheck? The IRS’s Tax Withholding Estimator helps you calculate federal tax withholding, which affects your take-home pay as well as your tax refund or tax due. To use the estimator, you’ll need paystubs from your job(s). Be sure to include your spouse’s job and any other […]

When you retire, your income will most probably be lower than when you were working, and while your expenses will be lower in some areas — no more commuting — they’ll be higher in others — more prescriptions and doctors’ visits. You’ll be balancing your Social Security benefits, Medicare premiums, taxes and savings, along with […]

Let’s say you decide to onboard a freelancer, also known as an independent contractor. What should your next tax- and finance-related moves be? Let’s find out! What to expect when you onboard a freelancer or an independent contractor When paying freelancers, you are not required to withhold any of the following from those payments: The […]