Monthly Archives: February 2012

Congress does something right, for a change.

Back in December, Congress voted to extend the 2011 reduction in the social security rate paid by employees (the 2% reduction those of us subject to social security tax have been enjoying) until February 29, 2012.  Last Friday, they voted … Continue reading

Tags:
Posted in Accounting, Economy, Tax | Leave a comment

Fun with FICA tax!

One confusing area of church payroll is how to handle Social Security & Medicare taxes for Ordained/Licensed ministers.  Ordained/Licensed ministers are considered to be self-employed when it comes to their income from the church.  This means that churches are not … Continue reading

Posted in Accounting, Tax | Leave a comment

Employee Classification

One of the things that have been on the IRS’ radar in recent years is employee mis-classification.   Companies are tempted to classify workers as contract labor rather than employees because it saves them money on taxes.  Others just simply don’t … Continue reading

Tags: , , , ,
Posted in Accounting, Tax | Leave a comment

Staying on top of 1099’s

Staying on top of 1099’s Another January has come and gone, and for us accountants, that means the headache of 1099’s is behind us for another year. The best way to avoid those January woes is to stay on top … Continue reading

Posted in Accounting, Tax | Leave a comment