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What are the Tax Obligations for a Multi-state Employee?

If your business is located in one state and all your employees are resident of the same state than your tax withholdings are simple and easy. Your state income tax withholding obligations will be relatively straightforward. The income tax withholdings become complex when your operations expand beyond the borders of a single state. You may [...]

By |2016-07-03T00:53:02+00:00July 3rd, 2016|Blog|0 Comments

State and Local pay roll tax obligations

Those employers who are working in a state which has income tax have to pay both; state and local payroll tax withholding.  Employers who are working in a state with an income tax have payment and reporting state tax obligations. Multistate employment withholding may be governed by reciprocal agreements between states. In addition, several states [...]

By |2016-07-03T00:51:44+00:00July 3rd, 2016|Blog|0 Comments

Three Advantages of Direct Taxes

What is a IRS Direct Tax? As the name suggest, direct taxes are those taxes which are directly imposed on the person. Such taxes are directly paid by the person on whom the taxes are imposed. Unlike indirect taxes, they cannot be shifted on anyone else. Three basic advantages of Direct Taxes Advantage no. 1: [...]

By |2016-07-03T00:50:33+00:00July 3rd, 2016|Blog|0 Comments

Employee & Employer Tax Responsibilities

The IRS states that the employer and the employee should take the responsibility of paying taxes. According to the law, the employer is supposed to hold tax of the employees from their paychecks. The employees should allow the employer to deduct the tax from their salary. It is the responsibility of the employee to pay [...]

By |2016-07-03T00:49:17+00:00July 3rd, 2016|Blog|0 Comments

Instructions for the Newly married

Instruction No. 1: Adjust Your Withholding Once you tied the knot, it is important that you file your tax returns as a joint entity. You need to adjust the tax withholding from your paychecks. You need to determine the number of allowances you will get, it is your personal decision that how do you divide [...]

By |2016-06-25T01:23:43+00:00June 25th, 2016|Blog|0 Comments

Tax issues related to Marriage; Bonus and Penalties

Most people have a misconception that married couples have to pay higher taxes than the single tax payer. What they fail to realize is that there are many instances where you get a marriage bonus if you know the right details of tax returns. Marriage penalty Marriage penalty means that a married couple pays more [...]

By |2016-06-25T01:20:02+00:00June 25th, 2016|Uncategorized|0 Comments

Nonresident Spouse Treated as a Resident

 If one of the spouse is U.S. resident and other is not, then the spouse can choose to show the nonresident spouse as resident in his tax returns. This includes situations in which one of you is a nonresident alien at the beginning of the tax year, but a resident alien at the end of [...]

By |2016-06-25T01:14:54+00:00June 25th, 2016|Blog|0 Comments

What should be the filing status of a Newly Married?

The way you file your tax returns actually determines many things such as the deductions you get, the amount of tax you owe, and whether you qualify for credits or not. If you're thinking about taxes now that you're newly married, filing jointly or separately is an important decision. Filing Taxes Married Jointly If you [...]

By |2016-06-25T01:14:47+00:00June 25th, 2016|Blog|0 Comments