‘social security’ Tagged Posts

how to get my work in trouble ?

i am posting for my younger sister, my 19 year old sister have been working at a Japanese restaurant about 90 to 100 hours a MONTH. she is getting...

 

i am posting for my younger sister,

my 19 year old sister have been working at a Japanese restaurant about 90 to 100 hours a MONTH. she is getting paid 8 dollars min. in California
she is currently being paid under the table meaning that they should not deduct any money from her pay check because after all getting paid in cash means its her own " responsibility" to report her own tax. ( please dont judge my sister for being illegal, she is not some low life idiot, she is currently in school and waiting for her green card to arrive. ) i just found out that she is getting paid about 200 dollars a month when she is suppose to get paid about 800 to 1000 dollars a month. reason being, they said its a tax deduction which is based on her total sales and tips. i worked at a restaurant for 4 years in the past and this was unheard of. why would this be based on her total sale not her pay. what i dont understand is that this 3 star restaurant is located in 3 of high class malls in California. do you think there is legal way for them to be abusing these young college kids trying to make extra cash? can this system actually work? even if they take large amount of tips every night, this should not work in my opinion.

how would my sister start this process? she wants to be compensated and wants to get the business in trouble. they are practicing unfair "tax" deduction and not allowing any server to take any breaks other than a quick bathroom trip when they need to.

where should she start?
i wasnt expecting any kind of some lawyer answers but wow doesnt seem like anyone knows what they are talking about,

first of all. being illegal does not take away her rights to do anything. except voting.
college take illegal students for more money, illegal people can buy vehicle, get credit cards, rent a property, get driver license as long they have social security. they is alot of things they CAN do.

so much people are just so mean.

Business math need help please.?

 

How do i figure this problem out.

Charlene Langhorst’s gross weekly salary is 0. Her federal withholding is 1.62. The Social Security tax is 6.2 percent of the first ,000. The Medicare tax is 1.45 percent of gross pay. The state tax is 1.5 percent of gross pay. Each week she pays .40 for medical insurance. What are her total deductions?

Thank you

I need help in business with excess worksheet here the question.?

 

II. The purpose of this project is to construct an Excel file that can be used for an employee’s
payroll calculations. Prepare an Excel spreadsheet that can accomplish the following tasks, for a married person with 2 deductions and is paid weekly.

1. What is the hourly pay rate? Accept an input of regular hours, time and a half hours and double time hours per week. Multiply the employee’s hours by the appropriate rate to find the pay in each category and to add regular, time and a half and double time to find the weekly pay.
2. Is the federal withholding calculated using the percentage method or tax tables? Find the federal withholding based on your decision.
3. In what state does the employee live? Compute the appropriate state withholding.
4. Calculate any other deductions and Social Security, Medicare, FUTA, and SUTA taxes that the employer pays on the employee’s behalf.
5. Be sure to use formulas whenever possible in your Excel spreadsheet so that for example the hourly rate could be modified and the entire spreadsheet would update all calculations.
6. Comment on the ease or difficult of using Excel to make payroll calculations. Make any suggestions about how your spreadsheet could be modified to provide calculations for a wider variety of employees

I recently became self-employed. How do I estimate my taxes for quarterly payments?

 

I work as an independent consultant providing advisory services. My pay is gross with no deductions for advisory services to my clients in my consulting business.

Specific questions are:
1) Where do I remit the employer/employee portion of Social Security and Medicare?
2) What forms do I use? 1040ES seems to lack worksheets for deducting expenses for self-employed persons.

I switched from employee to consultant in start up company. How can I help them sort out employment tax issue?

 

I did some work for a small start up business in 2007. The first few months they paid me a monthly amount and told me they were deducting social security and witholding tax. After a few months I was asked to be a consultant and they would pay me a gross figure. I thought this was OK at the time.

It now looks like they did not know what they were doing. They paid me net but did not pay the deductions to the social security or the IRS. They paid me gross for the time I was called a "consultant".

This all came to light when I asked them when I would get my W2 for the first few months so I could get ahead on my fed tax return.They are trying to work out what they should do and have asked me to help them through this problem. I like the people and the work but they need to sort this mess out.

What should I suggest to they do to put everything right? I am flexible and want to carry on working but I dont want me or them to have a problem with the IRS or social security.
The start up company is a Delaware LLC. The owner does not take any salary (as far as I am aware). But he will take all the profits. I dont know how he will deal with company tax return.

We really are very small only 4 people and we only started this venture just about a year ago.

The owner bought the LLC off the shelf as a shell company. He finds customers overseas and we give advice in our specialist areas. He is good at finding customers so work has been continuous which is great.

The customers pay the LLC before we travel and he pays us our consulting fee and keeps the rest.

Its going well so I dont want to rock the boat and I have a lot of freedom, travel and more work than I had before. And he is a good payer …always on time.

I think this issue is just because we are not business people.

I want to make sure I dont have a problem with the IRS but I also want the company to carry on so minimising any penalties is one of my objectives.

Is Obamanomics Is a Recipe for another Great Depression w/ his tax and trade proposals?

 

The top 35% marginal income tax rate rises to 39.6%; adding the state income tax, the Medicare tax, the effect of the deduction phase-out and Mr. Obama’s new Social Security tax (of up to 12.4%) increases the total combined marginal tax rate on additional labor earnings (or small business income) from 44.6% to a whopping 62.8%. People respond to what they get to keep after tax, which the Obama plan reduces from 55.4 cents on the dollar to 37.2 cents — a reduction of one-third in the after-tax wage!
Mr. Obama has also opposed other important free-trade agreements, including those with Colombia, South Korea and Central America. He has spoken eloquently about America’s responsibility to help alleviate global poverty — even to the point of saying it would help defeat terrorism — but he has yet to endorse, let alone forcefully advocate, the single most potent policy for doing so: a successful completion of the Doha round of global trade liberalization.

http://online.wsj.com/article/SB121728762442091427.html?mod=opinion_main_commentaries

Business math homework help?

 

Ok so im having some problems in my business math summer course,best answer for whoever gets the most correct.

ok here we go:

4.Chris Huen, an oceanographer, is paid 6.20 a week. His earnings to date this year total ,895.60. The social security tax rate is 6.2% of the first ,700 earned. How much is deducted from his paycheck this week for social security tax?
5.Sherry Reese, a technical writer for Ace Electronics, earns 3.08 a week. Her medical insurance costs 19 a year, of which her company pays 75% of the costs. How much is deducted each week from her paycheck for medical insurance?
6.John Jacobson, a title insurance officer, is married and claims 2 allowances. He earns 2.75 a week. The social security tax rate is 6.2% of the first ,700 earned. The medicare tax rate is 1.45% of gross. The state tax rate is .95 a week. He has weekly deductions of for medical insurance and for payroll savings.

Federal Tax minimum?

 

I am a college student and I own my own business doing videography. I know that the minimum to file federal tax is ,450 after all deductions have been accounted for (cameras, computers, etc).

What I do not understand is, if I make ,451, would I pay tax on all of the money or only what exceeded the minimum of 8,450?
Update: I am referring to federal Income tax. I understand that If i make 3 that I must file for business tax (social security etc)

If I am collecting early retirement from Social Security , how much can I earn per year from a pt job?

 

If I am self employed and allowed to earn approx 14k per year, also collecting early retirement social security benefits at 62yrs old. Are my business expenses , deductions, and exemptions added towards the 14k earnings or deucted from my gross? Trying to fugure out how much I can earn and still collect, and how this affects yearly taxes without committing fraud.

Question About Tax?

 

Lets say a business man makes 400k in one year, after tax and social security, whats the average he is left with?

If the business is online his deductions are minimal i guess, anyways, whats the average you think he is left with?

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