Posts tagged as:

Social-Security

Ask the taxgirl: Worker’s Comp

30 January 2012

Taxpayer asks: I received workers comp most of the year, will I receive a 1099 for these earnings? taxgirl says: Amounts you receive as workers’ compensation for an occupational sickness or injury are not taxable if they are paid under a workers’ compensation act or a statute in the nature of a workers’ compensation act; [...]

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9 Things to Know About the Making Work Pay Credit and Payroll Tax Cuts

4 January 2012

My inbox continues to be chock full of questions about the Making Work Pay Credit for 2011. Taxpayers, it seems, are still confused about whether the credit was extended and how it relates to the payroll tax cuts. So let me see if I can set the record straight for you: The Making Work Pay [...]

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Payroll Tax Cut Bill Includes New ‘Recapture’ Tax for the Wealthy

23 December 2011

So now that the payroll tax cut has been extended for two months, what does that mean for taxpayers? Well, even though the collective wisdom is that Congress will hammer out a longer term deal, the IRS gets to play a game of “let’s put a bunch of provisions in place within the space of [...]

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Ask the taxgirl: Getting Paid Under the Table

12 December 2011

Taxpayer asks: I was wrongfully fired off of assumptions. It’s a small family owned business. They used to pay me under the table. What are the steps/where do I turn to, to have them caught red handed for paying under the table? taxgirl says: This is one of those questions that is difficult to answer [...]

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Ask the taxgirl: Self-employment Tax

10 December 2011

Taxpayer asks: Since the self-employment tax rate is 12.4 percent, why do I have to pay 15.3%? taxgirl says: Self-employment tax, sometimes called SE tax, is a tax consisting of Social [entity display="Security" type="section" active="true" key="/security"]Security[/entity] and Medicare taxes for those who work for themselves. It’s the equivalent of the total of Social [entity display="Security" [...]

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Ask the taxgirl: Making Work Pay Credit for 2011

8 November 2011

Taxpayer asks: I read that the Making Work Pay Credit was back for 2011 (I saw this post) but I can’t find anything about it even on the IRS web site. Can you help? taxgirl says: Easy answer first: the Making Work Pay Credit was not extended into 2011. The Tax Relief, Unemployment Insurance Reauthorization [...]

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Mmm… Obama’s Plan Is So “Job Creating”

12 September 2011

President Obama will send his new jobs creation plan to Congress later today. He’s going to pitch it first in the Rose Garden surrounded by the kinds of folks that make for good press (vets and teachers, for example) and then send it to Congress for consideration. It’s not going to be an easy road. [...]

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Taxes from A to Z: U is for Unemployment Compensation

23 March 2011

Sadly, a lot more taxpayers are trying to figure out the tax treatment of unemployment compensation these days… It’s helpful to understand a little bit of the history of unemployment compensation in order to understand how it functions (and how it’s taxed). The Social Security Act of 1935, also known as Public Law 74-271, created [...]

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Taxes from A to Z: N is for Name Change

16 March 2011

When I first got married, I didn’t immediately change my name. It felt weird to me to have my maiden name for years and years and then – poof! – be somebody else. My diplomas, my law licenses, all of it was in my maiden name. It was who I was. Plus, I liked my [...]

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Payroll Tax Holiday Begins

3 January 2011

I rolled into work this morning along with many Americans for the first time in 2011. Since New Year’s Day fell on Saturday this year, those of us who work “traditional” hours (yes, my use of the term is cheeky) started our work year today. It’s also the start of a bit of a headache [...]

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