FICA Wage Base Remains at $118,500
The Social Security Administration has revealed that the Accounting FICA wage base taxable wages in 2016 will remain at $118,500. The maximum tax amount is $7,347 with 6.2% social security tax being paid by both employees and employers.
Excluding pretax medical and tax free fringe benefits wages will also … Read the rest
The post FICA Wage Base – Payroll Deductions appeared first on Internet Tax Connection.
Tax season will be here before we know it. Therefore, tax questions will be being asked left and right. There will be questions about claiming parents as dependents, deducting books for college and more. Therefore, we decided to put together a list of five of the most common tax questions.
The post Five of the Most Common Tax Questions for 2017, 2018 appeared first on Internet Tax Connection.
Tax season will officially open in mid-January, which is just around the corner, but you don’t have to wait to file your 2017 returns.
The well known tax service company TurboTax is now accepting returns, meaning you can jump the gun and go ahead and submit your return so it will be in front … Read the rest
The post Time to File Your 2017 Tax Returns With TurboTax 2018! appeared first on Internet Tax Connection.
As the holiday season continues, you might be tempted to put off your taxes until the second week of January. However, the holiday season is a crucial time for you to get some last-minute tax deductions in with the right organizational skills. Here are some of the best tips on how you can be prepared … Read the rest
The post 6 Ideal Ways to Getting Organized for Tax Season 2018, 2019 appeared first on Internet Tax Connection.
The IRS always suggests filing as soon as you have all of your tax forms and documents together in addition to efiling. By doing so you will be able to have your tax return processed and receive your refund quickly. In some cases, depending on the tax software that you use you are able to … Read the rest
The post E-File to Jumpstart Your 2017 Tax Refund appeared first on Internet Tax Connection.
If you had a baby recently, they are bringing you more than joy this year. They also bring in bundles of tax savings for you during tax season.
When you become a parent, you get a ton of benefits. The more children you have the better the benefits become. Below are … Read the rest
The post Six Ways New Parents Can Save on Taxes appeared first on Internet Tax Connection.
If you have decided to purchase a home, you know that your mortgage is one of your largest debts – if not the largest. You may also find yourself paying fees known as “mortgage points”. The good news is, if you have to pay mortgage points you usually can deduct the points when you file … Read the rest
The post Deducting Mortgage Points on Your Tax Return appeared first on Internet Tax Connection.
Are you unsure which form you should be using to file your federal taxes? Many people use their computers to e-file tax forms because it’s easy and the software will automatically select the best tax form for your tax situation. However, if you are filing via paper, you have to select the best form to … Read the rest
The post Which 1040 Tax Form Should You File? appeared first on Internet Tax Connection.
For many Americans, purchasing a home is more than just setting out a personal goal. It is eliminating the need of renting. It is building equity in an investment that is proven to never die out – real estate. Getting into home ownership is often a battle as mortgage payments can be sky high. Uncle … Read the rest
The post Mortgage Tax Breaks for Buying a Home appeared first on Internet Tax Connection.
When it comes time to process payroll, there are several tasks you must carry out in processing the regular employee payroll and paying and reporting payroll taxes. The information provided does not pertain to independent contractors you hire to work for you from time to time.
What You Need To Do When Processing Payroll
In … Read the rest
The post Things Employers Must Do To Process Employee Payroll and Pay Payroll Taxes appeared first on Internet Tax Connection.
FICA Wage Base Remains at $118,500
The Social Security Administration has revealed that the Accounting FICA wage base taxable wages in 2016 will remain at $118,500. The maximum tax amount is $7,347 with 6.2% social security tax being paid by both employees and employers.
Excluding pretax medical and tax free fringe benefits wages will also … Read the rest
The post FICA Wage Base – Payroll Deductions appeared first on Internet Tax Connection.
Tax season will be here before we know it. Therefore, tax questions will be being asked left and right. There will be questions about claiming parents as dependents, deducting books for college and more. Therefore, we decided to put together a list of five of the most common tax questions.
The post Five of the Most Common Tax Questions for 2017, 2018 appeared first on Internet Tax Connection.
Tax season will officially open in mid-January, which is just around the corner, but you don’t have to wait to file your 2017 returns.
The well known tax service company TurboTax is now accepting returns, meaning you can jump the gun and go ahead and submit your return so it will be in front … Read the rest
The post Time to File Your 2017 Tax Returns With TurboTax 2018! appeared first on Internet Tax Connection.
If you worked throughout of the entire year, getting a tax refund is important to you. However, waiting for your refund to arrive is frustrating, but it is even more frustrating when you get less than what you expected or no refund at all. Therefore, today we are discussing some of the reasons the IRS … Read the rest
The post Reasons Why the IRS Changed Your Refund appeared first on Internet Tax Connection.
Identity theft is something that is all too common in this day in age. You may not want to believe it but numbers show us that it is more common than anyone likes to think.
According to the Wall Street Journal, 803 individual records have been stolen in the last three years alone. The population … Read the rest
The post How to Handle a Fraudulent Tax Return 2018, 2019 appeared first on Internet Tax Connection.
You have just started a new side business, congratulations. However, your work is just beginning. You will have to manage your time, display your talents, and manage your home and career life. This is okay though since this is just a side business.
You will continue to make money at your full time job so … Read the rest
The post Tips for New Side Business Owners appeared first on Internet Tax Connection.
The dependent tax credit is a brand new tax credit. The old tax break for dependents was eliminated for 2018 during the overhaul of the tax system. Now you can get a credit worth either $500 or $200. It all depends on your modified adjusted gross income, however.
This guide is going to introduce you … Read the rest
The post What is a Dependent Tax Credit? appeared first on Internet Tax Connection.
Having children will be one of the most expensive decisions you’ll ever make. Uncle Sam has your back because when you have children, you’re entitled to a number of tax credits.
We have a list of the three best tax credits you’re entitled to when you have children. Here’s what you need to know about … Read the rest
The post 3 Best Tax Credits for Having Children appeared first on Internet Tax Connection.
Are you unsure which form you should be using to file your federal taxes? Many people use their computers to e-file tax forms because it’s easy and the tax software will automatically select the best tax form for your tax situation. However, if you are filing via paper, you have to select the best form … Read the rest
The post Which 1040 Tax Form Should You File? appeared first on Internet Tax Connection.
Tax season will officially open in mid-January, which is just around the corner, but you don’t have to wait to file your 2018 returns.
The well known tax service company TurboTax is now accepting returns, meaning you can jump the gun and go ahead and submit your return so it will be filed with … Read the rest
The post Time to File Your Tax Returns With TurboTax! appeared first on Internet Tax Connection.
