Do I need to withhold the standard 25% federal withholding rate for bonuses, separate from normal payroll? What if I include it in my normal payroll? Is it legal to withhold based on the employee's normal wage percentage, and will the company face any penalties if not using the 25% rate? Should bonuses be processed in a separate payroll from normal salary/wage payroll?
June 26th, 2023
How should I handle filing taxes for my wife's employment situation where her employer switched from using a payroll company to paying her in cash without withholding any taxes for the last 4 months of the year?
April 26th, 2024
Is a judgement paid, resulting from a car accident where I was found negligent, tax deductible?
March 30th, 2024
How does a non-US citizen get a temporary Tax ID number?
July 24th, 2024
Is the loss by fire of the entire structure and personal property deductible on an individual 1040, provided that insurance proceeds therefrom are reported as income?
April 4th, 2023
If my job did not take out any federal taxes in my paychecks (federal taxes taken out $0.00), can I still apply to get Earned Income Credit for my two children?
December 10th, 2024