Tag Archives: Medicare Tax

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2016 Rates – 2017 Limits

TAX RELATED INFORMATION FOR CERTAIN 2016 ADJUSTMENTS AND 2017 TRANSACTIONS Form 1099-MISC and related backup withholding for 2016 & 2017: Federal 1099-MISC Information Forms must be completed by January 31, 2017 for certain payments of $600 or more made during 2016 … Continue reading

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The Additional Medicare Tax

Starting in 2013, you may be liable for an Additional Medicare Tax if your income exceeds certain limits. Here are ten tax tips for determining if this tax applies to you, how to report it, and how to pay it: The Additional Medicare … Continue reading

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Small Business Tax Workshop

If you are self-employed or starting a new small business and need to get up to speed on your tax obligations, the IRS has a great online Small Business Tax Workshop that can be of immense help to you in learning what … Continue reading

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Additional Medicare Tax Withholding Requirements

Additional Medicare Tax  is required to be withheld  from wages or compensation paid subject to Railroad Retirement Act Taxes when that compensation is in excess of $200,000 in a calendar year, without regard to the individual’s filing status or wages paid … Continue reading

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Tax Plannng in December 2012

In recent years, end-of-year tax planning for individuals has been complicated by uncertainty over the future availability of many tax deductions and credits.  This year things are even more complicated.  As this article is being written, Congress and the White House … Continue reading