Small Business

Beginning 1/1/11 you must use electronic funds transfer to make all federal tax deposits for employment tax's, corporation tax's and excise taxes. Forms 8109- and 8109-B Federal Tax Deposit Coupons cannot be used after 12/31/10. Generally electronic funds transfer are made using the EFTPS system. If you do not use EFTPS you can arrange for a trusted third party to make deposits on your behalf such as a payroll service or financial institution. To enroll in EFTPS visit www.eftps.gov or call 1-800-555-4477. Speak to your local CPA about assisting you in signing up to the Federal Tax Payment System.

Beginning 1/1/11 you must use electronic funds transfer to make all federal tax deposits for employment tax's, corporation tax's and excise tax's.
Forms 8109- and 8109-B Federal Tax Deposit Coupons can not be used after 12/31/10.
Generally electronic funds transfer are made using the EFTPS system. If you do not use EFTPS you can arrange for a trusted third party to make deposits on your behalf such as a payroll service or financial institution.
To enroll in EFTPS visit www.eftps.gov or call 1-800-555-4477. Speak to your local CPA about assisting you in signing up to the Federal Tax Payment System.

Form 1099-MISC should be issued for payments of $600 or more per year for services performed by workers not considered your employees.

Generally, payments of $600 or more to workers not treated as your employee, rent payments of $600 or more per year, prizes and awards of $600 or more, or royalty payments of $10 or more per year.

The law rquires you, the employer to verify that each new employee is legally eligible to work in the United States. Both the employee and the employer must fill out INS Employment Eligibility Verification Form I-9. In addition to Form I-9, each new employee must fill out IRS Employee's Witholding Allowance Certificate Form W-4.

The Federal Unemployment Tax (FUTA)is reported and filed separately from the Employer's Quarterly Federal Tax Return Form 941. Use the Employer's Annual Federal Unemployment Tax Return Form 940.

Yes. There are different penalty and interest calculations incurred for not filing timely, not paying and not paying timely, or when a balance due exists. You will want to avoid the failure to file by the due date when a balance due exists penalty. Therefore, file the tax return by the due date and pay whatever you can at that point in time to minimize your total penalty and interest calculations.

Federal and state laws prohibit prospective employers from asking certain questions that are not related to the job they are hiring for. Questions should be job-related and not used to find out personal information. In general, employers should not be asking about your race, gender, religion, marital status, age, disabilities, ethnic background, country of origin, sexual preferences or age. Some questions you should not ask during an interview are: Do you have any disabilities?, How old are you?, What is your religious affiliation?, What is your ethnic background?, Are you married?, Do you have children?, or What is your sexual orientation?.

W-9, W-4 and employment understanding document should be filled out by all independent contractors.
If you’ve made the determination that the person you’re paying is an independent contractor, the first step is to have the contractor complete Form W-9 (PDF), Request for Taxpayer Identification Number and Certification. This form can be used to request the correct name and Taxpayer Identification Number, or TIN, of the worker. A TIN may be either a Social Security Number (SSN), or an Employer Identification Number (EIN). The W-9 (PDF) should be kept in your files for four years for future reference in case of any questions from the worker or the IRS.
A penalty can be levied against you, the employer, for omission of this information on certain forms.