Category Archives: Payroll Tax

2013 Unemployment Tax – Florida & Federal

The FLORIDA taxable wage base for 2013 remains at $8,000.  This means the first $8,000 of each employee’s wage during the calendar year to taxed for Florida Unemployment Tax Purposes. The FEDERAL wage base for the same purpose is based on … Continue reading

Posted in Ask Question or Comment, General, Income Tax, International Taxation, LLC's, Payroll Tax, Sub S Corporations | 7,153 Comments

2013 Florida Minimum Wage

Effective January 1, 2013, Florida’s minimum wage is $7.79 per hour for all hours worked in Florida. For tipped employees the direct hourly wage is $4.77 as of January 1, 2013.

Posted in General, Income Tax, International Taxation, LLC's, Payroll Tax, Sub S Corporations | 6,113 Comments

Chartered Global Management Accountant status awarded (CGMA)

AICPA (Association of International Certified Professional Accountants) and the American Institute of Certified Public Accountants (also known as AICPA) have awarded the CGMA (Chartered Global Management Accountant) status by fulfilling all the established requirements of eligibility and demonstrating the necessary … Continue reading

Posted in General, Income Tax, International Taxation, LLC's, Newsletter Topics, Payroll Tax, Retirement Accounts, Sub S Corporations | 6,878 Comments

Bush-era Tax Cuts to expire at end of 2012

Reduced maximum capital gains rate expires Taxation of qualified dividends at capital gain rates will not apply Accumulated Earnings Tax increases to 39.6 (that is for “C” Corporations with lots of Retained Earnings–you know who you are) Personal holding company … Continue reading

Posted in General, Income Tax, International Taxation, LLC's, Payroll Tax, Sub S Corporations | 9,602 Comments

2012 W2 Health Care Reporting

There is a great deal of confusion on whether an employer has to include Health Insurance on the W2 of employees.   You will read in many places it is mandatory.   On June 28, 2012, the U.S. Supreme Court upheld the … Continue reading

Posted in General, Income Tax, International Taxation, LLC's, Payroll Tax, Retirement Accounts, Sub S Corporations | 7,901 Comments

Florida State Unemployment Tax Rates 2012

Florida Contribution Rates For 2012, the minimum rate is 2.02% and the maximum rate is 5.4%, except that employers participating in the short-time compensation program will be subject to a maximum rate of 6.4%. New employers pay 2.7% in 2012. … Continue reading

Posted in General, Income Tax, International Taxation, LLC's, Payroll Tax, Sub S Corporations | 4,765 Comments

2011 Health Insurance MUST be on W2 for >2% Sub S shareholder

HERE IS HOW TO REPORT IT  Health Insurance for the entire family goes on Shareholder’s W2 Box 1 & Box 14 (Does not affect FICA). W3 Box 1 only Form 941 Box 2 only (Does not affect FICA). Form 940 … Continue reading

Posted in General, Income Tax, International Taxation, LLC's, Payroll Tax, Sub S Corporations | 4,141 Comments

How Often Does Tax Law Change….

There were approximately 4,430 changes to the tax code from 2001 through 2010, an average of more than one a day, including an estimated 579 changes in 2010 alone. 

Posted in General, Income Tax, International Taxation, LLC's, Newsletter Topics, Payroll Tax, Retirement Accounts, Sub S Corporations | 4,036 Comments

2012 Payroll Tax Cut Extended 1st Two months

A 2-Month Extension to the Payroll Tax Cut Signed Friday, December 23, 2011 a 2-month extension of the payroll tax cut was signed. This means the employee social security rate will remain at 4.2% through February 29, 2012. Paycor has updated the … Continue reading

Posted in Income Tax, International Taxation, LLC's, Payroll Tax, Sub S Corporations | 1,071 Comments

W2 Healthcare Reporting 2011 & 2012

The Patient Protection and Affordable Care Act requires employer provided health care costs to be reported on Form W-2 starting with the 2012 tax year. This will affect employers who filed 250 or more W-2s for the 2011 tax year.

Posted in General, Income Tax, International Taxation, LLC's, Newsletter Topics, Payroll Tax, Sub S Corporations | 93 Comments