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How To Fill Out Form W-4

US Business Law / Taxes: Most Popular Articles

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How to Prepare 1099-MISC Forms - Step-by-Step
Describes the information you need and the process of completing the 1099-MISC form for non-employee workers.
What is a Caucus?
The definition of a caucus and some examples in the judicial and mediation process and the political process.
How (and When) to Prepare Tax Form 1096
Describes how to submit Form 1096 for 1099-MISC and other information returns for non-employee payments.
Where to Get W-2 Forms and 1099-MISC Forms
Where to get W-2 forms and 1099-MISC forms for annual reporting to employees and contractors. And where NOT to get these forms.
What Is a 1099-MISC?
Describes a 1099-MISC form, how it is filed and how the recipient includes it in his or her income taxes.
Social Security Maximum - Updated for 2016
Describes the Social Security tax for employees and employers, including the annual maximum social security tax and how the maximum social security tax is determined.
3 Ways to Identify Yourself to the IRS
This article explains the different types of taxpayer identification that may be used for federal tax purposes - Tax ID, Employer ID, and ITIN.
How to Calculate Withholding Amounts for...
How to calculate federal income tax (FIT) withholding from employee paychecks.Information needed and a step-by-step guide.
Need Info on Taxes in Your State? Start Here.
Find information on taxes in your state by using this listing of state departments of revenue
Tax Return Due Dates for 2015 Business Taxes
Here is a list of the federal income tax return due dates for sole proprietorships, LLCs, partnerships, corporations and s corporations.
How to Calculate Gross Pay for All of Your...
How to calculate gross pay for hourly and salaried employees, including overtime calculation.
Should Your Employees Be Salaried or Hourly?
Salaried vs. hourly employees - differences explained. How to calculate salary and hourly rates and overtime exemptions explained.
Disregarded Entity - Clearing up the Confusion
A disregarded entity as a business entity which elects not to be separate from its owner for tax purposes.Tax and liability issues discussed.
Form 1099-MISC - What Employers Need to Know
All about Form 1099-MISC: What is a 1099 tax form, what is a 1099 used for, how to complete the form, and more.
How to Calculate Paycheck Deductions - Hint:...
Employee paychecks begin as gross pay,with withholding for federal income tax, FICA tax, state and local tax, and other deductions.
I Received a 1099-MISC Form - What Do I Do With...
You received a 1099-MISC form. What to do with it, how to include this form with your personal taxes, and how taxes are paid on this income.
How Do I Calculate Estimated Taxes?
Ways to calculate estimated taxes for a self-employed business owner filing business taxes using Schedule C and previous tax years.
Deadlines for 2015 W-2 and 1099-MISC Forms
Payroll tax report deadlines for 2014 wage and tax reports, Form W-2 and Form 1099-MISC.
Filing Form 941 - With and Without a Payment
Form 941 - Employers Quarterly Tax Return - must be filed quarterly. Where to file Form 941 depends on whether or not you are making a payment.
Form 941 for Payroll Taxes - How to Complete...
Form 941 is the quarterly tax return for payroll taxes. Due dates, how to complete, and current changes.
What's the Corporate Tax Rate in America?
A chart showing the corporate tax rates - the federal income tax rate charged to corporations, based on level of income reported on corporate income tax Form 1120.
What Happens If I Don't Pay Employees?
Attorney Michael Helfand discusses the legal obligation of employers to pay employees, and what happens if employees are not paid.
What Kind of Partnership Do You Want to Start?
Partnership Types: Limited Partnership, Limited Liability Partnership, General Partnership and Limited Liability Company
All the Fundamentals about W-2 Forms
Definition and description of a W-2 form.
Filing W-2 Forms Online - How and Why
How to e-file Form W-2 online through the Social Security Administration Business Services Online site.
Who Must Receive Form 1099-MISC - Clearing Up...
Who must receive a 1099-MISC form from an employer? Everyone who has been paid $600 or more in the previous year. There only a few exceptions, noted here.
FICA Taxes
FICA taxes explained, including withholding rates, how to calculate FICA taxes, reporting and paying FICA taxes to the IRS.
Sending 1099-MISC Forms? Do These 4 Things First
Year-end payroll tasks for employers of contract workers and outside vendors, including receiving a W-9 form from each person and sending out 1099-MISC forms.
When is Form 941 Due?
When to file Form 941, the federal quarterly payroll tax return. If you make timely deposits in full payment, you have more time to file.
End of Year Employee Paychecks - Which Year's...
End of year paychecks - which year counts for W-2 income purposes? The general rule - and the exception.
What's a Capital Contribution? How Does a...
A capital contribution is money a business owner contributes to a business. How a capital contribution works and why it's different from an owner loan.
Your Business Employer ID Number - Explained
Describes an Employer ID Number. US Business Law / Taxes.
Which Form Should an Employer Use - W-2 or...
Explains the difference between using a W-2 to report income to employees and a 1099-MISC to report income to independent contractors.
I.R.S. - Internal Revenue Service
What is the I.R.S. US Business Law / Taxes.
What Employers Should Know About the W-3 Form
Describes the W-3 form. US Business Law / Taxes.
The Employer's Guide to W-2 Wage and Tax...
How to gather information and prepare W-2 forms for employees, include due dates and filing tips.
How to Apply for an Employer Identification...
Here are the steps for completing the Form SS-4 to get a Tax ID Number for a new business.
9 Resources for Hiring Independent Contractors
If you are considering hiring an independent contractor, here are some tax considerations and employment agreements you should should know about.
Benefits to E-filing Forms W-2 and 1099-MISC...
Benefits of electronically filing W-2 forms for employees and 1099-MISC forms for non-employees, including details on how to set up e-filing for these forms.
Before You Shake Hands with Your First New Hire...
This article lists the forms you must have a new employee complete, including the W-4 form, state income tax withholding form, I-9 form, and a job application form.
Before Preparing Form 1099-MISC - Read This First
This article provides information for employers on how to submit Form 1099-MISC, including how to prepare the form, due dates, and common mistakes.
Want to Deduct Your Business Mileage? You'll...
IRS Standard Mileage Rates for each year from 2012 to the current year, including information on how to calculate business mileage.
Viability (of a Business)
Viability of a business. US Business Law / Taxes.
The Simple Way to Calculate FICA Tax Withholding
How to calculate the deduction for FICA taxes from employee paychecks.
All About Your Business Tax ID (EIN)
Everything you need to know about Federal Employer ID Numbers (EIN) or business tax ID, including how and where to get one, how to change or cancel.
What's the difference between tax avoidance and...
The difference between tax evasion and tax avoidance
Did You Forget W-2 Forms and 1099-MISC Forms?...
Describes the late filing penalties for wage and tax statements on forms W-2 and 1099-MISC.
How-tos for Annual Wage and Tax Reports
Detailed due dates for the process of preparing and filing annual wage and tax forms W-2 and 1099-MISC, and transmittal forms W-3 and 1096.
Before Submitting Form 1099-MISC - Check for...
Common errors in completing Form 1099-MISC and other types of 1099 forms and how to avoid them.
Form 940 Unemployment Tax Report - Information...
IRS Form 940 for reporting federal unemployment taxes - who must file, when to file, and the basics of completing this form.
Calculating Cost of Goods Sold - Step by Step
This article takes you through the process of determining cost of goods sold for your business tax return, step by step
What are the Pros and Cons of Being an...
Benefits and drawbacks of being an independent contractor, including taxes and contracts.
The Employer's Guide to Dealing with Payroll Tax
All about payroll taxes: What are they? How are they calculated? How are they paid? What are payroll tax reports? When do you file payroll tax reports? How do you file payroll tax reports?
10 Payment Types That Are Exempt from FICA Tax
Discusses which types of payments to employees are exempt from FICA (Social Security/Medicare) tax.
Can I Deduct Commuting Expenses?
Defines commuting expenses and describes what car/truck expenses a business owner can deduct for commuting and which cannot be deducted.
What business type is best for my company?
Discusses different types of business entities and which is best for different kinds of businesses
LLC Member Capital Contributions
About LLC member capital contributions, including requirements for initial contributions, how the operating agreement works with member contributions, how contributions are disbursed, and member loans vs. contributions.
Sole Proprietor? Or Independent Contractor?...
Difference between a sole proprietor and an independent contractor. They are essentially the same: A sole proprietor files income taxes on Schedule C. An independent contractor receives income on a Form 1099-MISC. Income from a 1099 can be included in a Schedule C.
Statutory Employee
Statutory employee. US Business Law / Taxes.
When Does the Fiscal Year End?
How to determine the date for your company's fiscal year end.
How to Prepare Schedule K-1 for a Partner or S...
How to prepare Schedule K-1 for a partner in a partnership, member of an LLC, or shareholder in an S corporation.
Own a Business? Here's How to Pay Yourself
How business owners are paid. Business owners don't take a salary but are paid from profits. How corporation business owners are paid.
I Didn't Get Paid! What Can I Do?
How to deal with non-payment by employer and make sure you get paid for your services, either as an employee or as an independent contractor. You will need proofs, or a contract. Sometimes you will have to take the party to court to get paid.
Why You Shouldn't Pay Employees in Cash
Paying employees and independent contractors in cash doesn't mean evading payroll taxes. Some issues to consider for paying in cash, and how the IRS looks at cash payments.
How do I prepare and file Form W-3?
How to prepare and send Form W-3, the transmittal document for W-2's, to the Social Security Administration.
Form W-4 Information for Employers
Explanation of Form W-4 - Employee's Withholding Allowance Certificate, which employees must complete at hire to calculate withholding.
Is Arbitration Better than Litigation?
Describes the arbitration process vs. the litigation process, with points of differences and similarities.
Thinking About Employee Gifts or Bonuses? Read...
Business gifts have tax implications. For example, gifts to employees may be taxable to the employee and may be deductible to the business. Gifts to customers and business partners and associates may also be taxable, and you may not be able to take a tax deduction.
How to Shrink Your Home Business Tax Bill
Here is a discussion of how to calculate your home business space deduction, using either the simplified method or more detailed method.
Business Owner's Guide to Deducting Office...
This article explains office supplies and materials deductions
What Does an Indemnity Agreement Look Like?
Indemnity agreements - what they are, how they work, where are they found in contracts and insurance contexts.
Employer's Guide to Payroll Tax Deposits
Information for employers on when to make federal payroll tax deposits, including the semi-weekly and monthly deposit rules.
Payroll Taxes - The Basics for Employers
Payroll Taxes include federal income tax withholding and FICA taxes - Social Security and Medicare tax - and state payroll taxes.
Can My Business Deduct Charitable Contributions?
Discussion of how charitable contributions are deducted by businesses.
4 Types of Pay Periods Defined
Pay Period. US Business Law / Taxes.
Fiduciary - Fiduciary Responsibility
A fiduciary responsibility and the person who is a fiduciary
LLC Tax Advantages and Disadvantages Explained
An LLC has some advantages, from a tax standpoint, but it also has some disadvantages. This article describes both the advantages and disadvantages of an LLC so you can get more information on which to base a decision. The taxes for an LLC are compared to the taxes paid by a corporation or by the owners of a corporation.
How to Create a Sources and Uses of Funds...
How to prepare a simple sources and uses of funds statement for a business plan.
4 Things Explained by Cost of Goods Sold
Cost of Goods Sold is explained here, including how to calculate cost of goods sold and include in a business tax return.
How to Include Business Tax Information on Your...
How to include your business tax information in your personal tax return, with emphasis on Schedule C, Schedule K-1, and Schedule SE
8 Important Facts about Self-Employment Taxes
All about self-employment taxes, including how to prepare Schedule SE for income taxes and how to include on personal tax return.
How Do I Apply for a Federal Employmer ID...
As you start your business, one of your first tasks will be to apply for an employer ID number (EIN). You can apply in any of these four ways: online, by phone, by fax, or by mail. Details on each application form are provided here.
LLC or Corporation: What's the Right Choice?
Should you choose an LLC or corporation for your business? A discussion of features of limited liability company (LLC) and corporation - differences and similarities.
Why Not All LLCs Pay Taxes the Same Way
Describes how a single-member limited liability company or multiple-member limited liability pays income tax.
How Timing Income and Expenses Can Save Money...
How to time business income and expenses at the end of a tax year to place the income or expense in the best tax year for minimizing business taxes.
What is the Principal of Your Loan?
Principal on a loan. US Business Law / Taxes.
Start Your Schedule C for Small Business Taxes
Basics on IRS Schedule C Profit or Loss from Business for your small business. Schedule C is included in IRS Form 1040, your personal tax return.
How to Pay State Sales Taxes in 8 Steps
How to collect state sales taxes from customers, file state sales tax returns, and pay sales taxes you have collected
How to Make Sure the IRS Receives Your Tax...
How to be sure your federal tax return is filed before the deadline and received by the IRS.
How Sole Proprietors Pay Themselves
How a sole proprietor gets paid, by taking a draw from the business checking account. How taxes are paid on the sole proprietor's income.
What's the Difference Between Commuting...
The IRS allows businesses to deduct expenses for business travel by owners and employees, but no deductions are allowed for commuting expenses.
2 Reasons to Call Your Company a Disregarded...
Describes what business types are considered disregarded entities.
How to Deposit Payroll Taxes Electronically
As a business owner, you have several ways to pay your employment taxes. Here are your options.
Correcting a W-2 Form - The Right Way
How to submit a W-2C and W-3C. US Business Law / Taxes.
When Your Business Needs a New Employer ID Number
When a new Employer ID Number (EIN) is required. Most business changes require a new Employer ID Number, including buying a business and changing business type.
How Do I Show Owner's Equity in My Business?
Definition of owners equity, for a small business and a corporation. How owners contribute equity to and withdraw equity from a business.
What is Due Diligence in a Business Purchase?
The due diligence process in buying a business or . Due diligence includes detailed review of operations, financial records, sales and marketing, employees, and legal documents.
What Is Litigation? What Does It Mean to...
Litigation definition. US Business Law / Taxes.
Sole Proprietorship? Here's How to Complete...
Instructions on how to complete Schedule C for a Sole Proprietorship or Single-member LLC - for Form 1040.
11 Things You Need Before You Can File Tax Form...
Describes the information needed to prepare Form 1065 for a partnership or multiple-member limited liability company (LLC).
The Difference Between Capital and Operating...
Capital expenses US Business Law / Taxes.
I Have a Business Name I Want to Use - Now What...
After you find a business name you want to use, you must check on the availability of the name. How to register or reserve a business name.
944: The Tax Form Every Small Business Owner...
This form gives smaller employers a break in filing and paying federal employment taxes. Info on completing and filing it.
Reporting Equipment and Supplies for Business...
Business supplies - short term, deducted as expense in the year of purchase. Business equipment depreciated over its useful life.
Want to Do Your Own Payroll Processing? Get...
How to do your own payroll and payroll taxes, in three steps: before you pay employees, paying employees, and after you pay employees.
How to Deduct Meals and Entertainment as...
Deducting business meal and entertainment expenses, including the 50% limit and how it's applied, and how to keep records on meals and entertainment.
Who Must Be Paid Overtime and When - Federal...
Overtime/Overtime Pay. US Business Law / Taxes.
What Does it Mean to Be Self-Employed?
Self employed, Self-employment. US Business Law / Taxes.
How to Have Your LLC Taxed as a Corporation
How to file an entity election for an LLC on Form 8832.
Should My LLC be Member-Managed or Manager-mana...
Discussion of pros and cons of having a member-managed LLC or a manager-managed LLC.
How Depreciation Affects Business Taxes
What is depreciation, how is depreciation calculated, and how depreciation affects business taxes. Includes bonus depreciation and Section 179 deductions.
Schedule C for Small Business Taxes - Your...
This article contains information on Schedule C, including Schedule C form, Schedule C-EZ, Schedule C instructions, how a husband-wife partnership can become a qualified joint venture and how to file Schedule C forms for this business, and how to add schedule c to form 1040.
How is Tax Nexus Determined?
Describes the term. US Business Law / Taxes.
What You Need to Know About Per Diem Rates
Defines per diem rates for business travel, how per diem rates are determined, how the General Services Administration sets per diem rates.
Not Everyone Who Works for You Is an Employee
The IRS sets requirements for categorizing workers as independent contractors or as employees. Here is a brief discussion of the distinctions.
Is It Smart to Loan Your Business Money?
Describes the two ways you can give money to your business - loans or investments
Deducting Business Travel To and From a Home...
Information on deducting car expenses for traveling to and from a home based business.
The Difference Between Real and Personal Property
Personal Property. US Business Law / Taxes.
How Do I Pay and Report Excise Taxes for a...
This article explains excise taxes and when these taxes must be paid and reported to the IRS.
All the Taxes Paid by a Limited Liability...
Lists all the taxes a limited liability company pays including income taxes, self-employment taxes and property taxes.
What Makes an LLC Different From Other Business...
Limited liability company (LLC) is defined, its history in the U.S. included, along with LLC ownership and taxation and
Form W-9 for Independent Professionals - What...
Describes Form W-9, US Business Law / Taxes.
What Products and Services are Subject to Sales...
How to determine what products or services are subject to sales tax in your state.
Want a Business Loan? First, Check the 4 C's of...
Describes the four C's of credit - character - capacity - collateral - capital - and how to use credit to get a business loan.
IRS Form 1099-K for Merchant Card Reporting
Form 1099-K - Payment Card and Third Party Network Transactions - What is it? Do you need to file it? What if you get this form? What if you receive an IRS notice about Form 1099-K?
Small Business Basics: How S Corps and LLCs Pay...
A CPA discusses taxes for S Corporations vs. LLCs.
What Makes a Good Contract or Agreement?
What you need to know about business contracts and agreements, including the difference between a contract and an agreement, how to read a contract, which types of contracts must be in writing, essential elements of a contract, and what makes a contract valid.
Should I Elect to Have My LLC Taxed as a...
Read this discussion of the advantages and disadvantages of having your LLC taxed as a corporation, and how and when to make this tax election.
Sorting Out the Employer Reporting Requirements...
Affordable Care Act reporting requirements for employers: What you need to report and when, including W-2 reporting and Form 1095-C.
Do I Need to Collect Sales Tax for States Where...
Discussion of whether a business selling products or services in several states must collect sales tax.
Options for Paying an Independent Contractor
Options for paying an independent contractor, Form W-9 for withholding, and withholding requirements, including backup withholding.
What is an Affiliate in the Business World?
The term affiliate has two general definitions in business contexts - in corporate law and taxes, and in online retailing.
Commissions and Fees Expenses
An explanation of the allowable deduction for commissions and fees paid to independent contractors.
What Does the Term 'Employee' Mean, Anyway?
Describes an employee. US Business Law / Taxes.
How Do I Notify Federal, State, Local Agencies...
How to notify federal, state, local agencies about your business address change.
What is the Electronic Federal Tax Payment...
Answers to questions about the Electronic Federal Tax Payment System (EFTPS), including how to enroll, what taxes can be paid, and how to enroll.
Want to Start a Business? Do These 8 Things.
First steps to starting any business: Begin with a business name, then a location, then go on to registering, financial, legal and marketing tasks.
What is Self Employment Tax? How Do I Pay This...
Describes Schedule SE which calculates self-employment taxes and is included on the personal tax return of the self-employed business owner.
2 Types of Business Leases Compared
Choosing capital leases vs. operating leases for business equipment leases - the differences explained.
All about DUNS Numbers
DUNS Number. US Business Law / Taxes.
How a Business Partnership Works
A Partnership is a legal relationship formed by the agreement between two or more individuals to carry on a business as co-owners.
How to Calculate Employee Withholding
An explanation of the wages used to calculate withholding for federal income tax (FIT) and FICA taxes (Social Security and Medicare taxes).
How Business Losses Work to Offset Income
How business losses affect business owner tax returns, and how business losses may be limited, depending on business type.
Submitting W-2 Forms - How and Where and When
Submit W-2 Forms for all employees to the Social Security Administration (SSA) by February 28, to accompany the summary transmittal form W-3. Learn how to submit W-2 forms.
Using Section 179 Deductions on Business...
Section 179 deductions, a form of accelerated depreciation, are available for purchase of business equipment and vehicles. Current limits explained.
What New Hire Paperwork Do I Need for an...
New hire paperwork when hiring an independent contractor, including Form W-9, a resume for the worker, and a copy of the employment contract.
What Defines a Salaried Employee?
A Salaried Employee is paid annually.
What is an Employee Earnings Record?
An employee earnings record shows gross pay, deductions and withholding, and net pay for each pay for that employee throughout his or her employment.
Why Do I Need a Personal Guarantee for a...
Attorney Susan Dawson answers the question:
Travel Expenses
Describes expenses you can deduct while traveling away from home for business purposes, including transportation, meals and entertainment, car/truck expenses, lodging, phone, tips, and other miscellaneous expenses.

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