decoding-social-security-taxes 
Business Management Daily
SEPTEMBER 1, 2022
It’s important not to give employees tax advice; you must let them fill out the form themselves. However, providing some general assistance/guidance on decoding the form is ok. In Part 1, you write in your name, address, and Social Security number and check a box to indicate your tax status. Parts 1 and 5.
Zoho People
SEPTEMBER 2, 2022
When calculations are done manually, payroll professionals may make mistakes when calculating gross pay, allowances, overtime pay, reimbursements, tax, and other deductions. Tax rates tend to change, so be sure to keep close tabs on them. Challenge #1: Errors in payroll calculation. Challenge #2: Protecting payroll data.
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Zenefits
JULY 20, 2018
Taxes can take a generous portion of a person’s earnings, and federal payroll tax can be difficult to figure out. The Federal Insurance Contributions Act, or FICA, is a federal law that requires three different taxes to be withheld from wages. Currently, FICA taxes include a 6.2 percent tax for Social Security, 1.45
Zenefits
MARCH 12, 2018
Personal taxes are intimidating. The rules are unnecessarily complex, difficult to understand, and many of them will change before you file your next round of taxes in 2019. This form is required by your employers to document your annual wages and taxes from your paychecks. Equals: Federal Income Tax wages.
Corporate Synergies
AUGUST 15, 2018
Medicare, Social Security, HSA rules—Baby Boomers who still work have lots to decode. Older workers approaching full retirement age (where they can begin receiving 100% of Social Security), face daunting decisions this, Medicare, and retirement plans such as health savings accounts (HSAs) and 401(k)s. As Seen In.
Zenefits
OCTOBER 19, 2018
Paying quarterly taxes can be a stressful endeavor for small companies. Fortunately, the IRS Form 944 enables small employers to file their taxes only once a year, instead of every quarter. The 944 is an annual federal tax form for small employers. The post HR Basics: Decoding IRS Form 944 appeared first on Zenefits Blog.
Zenefits
MAY 21, 2018
While tax forms and laws continue to evolve, the W2 form is one piece of the process that has stayed relatively consistent. The IRS has designated specific codes for these transactions and are defined as follows: A — Uncollected Social Security or Railroad Tax Act (RRTA) tax on tips. J — Nontaxable sick pay.
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