Are purchase orders tax-exempt?
Not all states provide an exemption for sales to themselves. For example, Florida, Illinois, Indiana, Maryland, and Texas do provide an exemption for the ...
Category: News
What is the general rule for overtime?
Like most provinces, Alberta’s overtime pay rate is 1½ times an employee’s regular pay rate. Employees in Alberta qualify for overtime pay after working m...
Does W-2 show gross income or taxable income?
Your salary is a gross dollar amount earned before taxes and deductions are taken out. Meanwhile, your Form W-2 shows your taxable wages reported after pr...
Do employers send W-2 to state?
As of publication, you must send Copy 1 of Form W-2 to the state unless your employee lives in Alaska, California, Florida, Iowa, Nevada, New Hampshire, N...
Can S corp shareholder contribute Sep?
As the sole shareholder of an S corporation, you are free to create a SEP IRA, which is a simplified employee pension individual retirement account. Your ...
How do you classify capital gains?
Capital gains and losses are classified as long term if the asset was held for more than one year, and short term if held for a year or less. Short-term c...
What if my w2 says single but im married?
On your tax return just file with the proper status, Married Filing Jointly, since you are legally married. The Single status on a W-4 would mean your tax...
Are Social Security benefits taxed in Georgia?
Does Georgia tax Social Security? No. Taxable Social Security and Railroad Retirement on the Federal return are exempt from Georgia Income Tax. Retirement...
What is the Ein number for an estate?
Before filing Form 1041, you will need to obtain a tax ID number for the estate. An estate’s tax ID number is called an “employer identification number,” ...
What happens to employees in a merger?
Mergers and acquisitions tend to result in job losses for employees in redundant areas in the combined company. The target company’s stock price could ris...
