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How To Fill Out Form W-4

US Business Law / Taxes: Most Popular Articles

These articles are the most popular over the last month.
Social Security Maximum - Updated for 2015
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.
Note These Filing Deadlines for 2014 Business...
Here is a list of the federal income tax return due dates for sole proprietorships, LLCs, partnerships, corporations and s corporations.
Disregarded Entity - Clearing up the Confusion
Definition of a disregarded entity as a business entity which elects not to be separate from its owner for tax purposes.
Should Your Employees Be Salaried or Hourly?
Salary vs. Hourly pay for employees. How to calculate salary and hourly rates. Overtime exemption.
Want to Deduct Your Business Mileage? You'll...
IRS Standard Mileage Rates for each year from 2009 to the current year.
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.
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 is Gross Pay Calculated?
Gross Pay. US Business Law / Taxes.
Form 941 for Payroll Taxes - Due Dates -...
Form 941 is the quarterly tax return for payroll taxes. Due dates, how to complete, and current changes.
What Kind of Partnership Do You Want to Start?
Partnership Types: Limited Partnership, Limited Liability Partnership, General Partnership and Limited Liability Company
How to Calculate Withholding Amounts for...
How to calculate federal income tax (FIT) withholding from employee paychecks.
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.
Running a Corporation? You'll Need This.
Schedule K-1 is used to show income/loss for individual partners in a partnership or (different form) individual shareholders in an s corporation. A partnership schedule K-1 shows the partner share of income/loss from a partnership. An S corporation K-1 shows individual shareholder income/loss.
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. Knowing the cost of the goods you sell allows you to take a larger tax deduction
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 Does an Indemnity Agreement Look Like?
Indemnity agreements - what they are, how they work, where are they found in contracts and insurance contexts.
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.
How to Calculate Gross Pay for All of Your...
How to calculate gross pay for hourly and salaried employees, including overtime calculation.
Travel for Business? How to Calculate Business...
Here is a brief overview of how to calculate mileage expense for business.
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.
3 Ways to Identify Yourself to the IRS
Difference between a tax ID number, EIN, and ITIN
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.
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.
2014 Mileage Rate for Business Taxes
The IRS has announced the 2014 mileage rates for taxes, for business travel, medical/moving, and volunteer travel.
What's the difference between tax avoidance and...
The difference between tax evasion and tax avoidance
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
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.
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.
What business type is best for my company?
Discusses different types of business entities and which is best for different kinds of businesses
How (and When) to Prepare Tax Form 1096
Describes how to submit Form 1096 for 1099-MISC and other information returns.
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.
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).
Can My Business Deduct Charitable Contributions?
Discussion of how charitable contributions are deducted by businesses.
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.
The Simple Way to Calculate FICA Tax Withholding
How to calculate the deduction for FICA taxes from employee paychecks.
2 Reasons to Call Your Company a Disregarded...
Describes what business types are considered disregarded entities.
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.
What Is Litigation?
Litigation definition. US Business Law / Taxes.
When Does the Fiscal Year End?
How to determine the date for your company's fiscal year end.
Fiduciary - Fiduciary Responsibility
A fiduciary responsibility and the person who is a fiduciary
4 Types of Pay Periods Defined
Pay Period. US Business Law / Taxes.
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.
How is Tax Nexus Determined?
Describes the term. US Business Law / Taxes.
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.
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.
Your Business Employer ID Number - Explained
Describes an Employer ID Number. 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.
3 Tools for Calculating Paycheck Deductions
Employee paychecks start out as gross pay, but then you must deduct amounts for federal income tax, FICA tax, state and local tax, and other deductions.
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.
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
How (and Why) to Use a Purchase Order
Defines a purchase order and describes the parts of this order.
4 Things Explained by Cost of Goods Sold
Cost of Goods Sold. US Business Law / Taxes.
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.
Statutory Employee
Statutory employee. US Business Law / Taxes.
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
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.
What Is a business budget?
Creating a budget for your business works the same way as a personal budget.
10 Payment Types That Are Exempt from FICA Tax
Discusses which types of payments to employees are exempt from FICA (Social Security/Medicare) tax.
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.
The Employer's Guide to FICA Taxes
FICA taxes explained. US Business Law / Taxes.
What's the Right Way to Report Employee Income?
Explains the difference between using a W-2 to report income to employees and a 1099-MISC to report income to independent contractors.
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.
Hiring Freelancers? Don't Forget This Tax Form.
Describes Form 1096 - Annual Summary and Transmittal of U.S. Information Returns
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 do I Prepare Schedule K-1 for a Partnership...
How to prepare Schedule K-1 for a partnership or s corporation
Form I-9 for employment verification -...
I-9 Form - I-9 Immigration Form. US Business Law / Taxes.
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.
Per Diem Lodging and Meal Rates Explained
Per Diem Definition and Per Diem Rates
Want to Get Paid? You'll Need One of These.
Describes an invoice. US Business Law / Taxes.
Filing an Extension Application for Corporate,...
This article describes Form 7004 application for automatic extension of time To file certain business income tax returns.
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.
Important Tax Info for LLCs
Lists all the taxes a limited liability company pays including income taxes, self-employment taxes and employment (payroll) taxes, sales and excise taxes, and property taxes.
How to Prepare Schedule C for Form 1040
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.
Understanding Taxes and Liability as a...
A tax attorney's discussion of tax and liability issues for a disregarded entity.
What Employers Should Know About the W-3 Form
Describes the W-3 form. US Business Law / Taxes.
What is an Independent Contractor?
Independent Contractor. US Business Law / 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.
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.
All About Your Employer ID Number (EIN)
Everything you need to know about Federal Employer ID Numbers (EIN): What is an EIN, When do you need one, how to apply, how to complete the application on Form SS-4, how to change an EIn, and how to cancel an EIN.
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.
Is Arbitration Better than Litigation?
Describes the arbitration process vs. the litigation process, with points of differences and similarities.
What Products and Services are Subject to Sales...
How to determine what products or services are subject to sales tax in your state.
The Difference Between Capital and Operating...
Capital expenses US Business Law / Taxes.
The Special Tax Only Some Businesses Pay
Excise Tax. US Business Law / Taxes.
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.
What Makes an LLC Different?
Limited Liability Company LLC. US Business Law / Taxes.
How to Create a Sources and Uses of Funds...
Describes how to prepare a simple sources and uses of funds statement
The Difference Between Real and Personal Property
Personal Property. US Business Law / Taxes.
7 Things Every Employer Should Know About FICA...
All about FICA taxes, including what they are, how to calculate them, OASDI, limits on FICA withholding, and more.
Is It Smart to Loan Your Business Money?
Describes the two ways you can give money to your business - loans or investments
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.
Do You Know How to Use This Inventory Costing...
FIFO is a method of costing inventory for accounting purposes. Learn more about what FIFO stands for.
How to Have Your LLC Taxed as a Corporation
How to file an entity election for an LLC on Form 8832.
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.
Who Must Be Paid Overtime and When - Federal...
Overtime/Overtime Pay. US Business Law / Taxes.
4 Things to Know About the W-4 Tax Form
Form W-4 -- Employee's Withholding Allowance Certificate
Preparing Schedule SE for Self-Employment Tax...
Instructions on how to complete Schedule SE for self-employment tax calculation for a Sole Proprietorship or Single-member LLC - for Form 1040.
Taking the Mystery out of Depreciation...
Shows methods for calculating depreciation
What is the Principal of Your Loan?
Principal on a loan. US Business Law / Taxes.
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.
How to Understand All the Parts of a W-2 Form
Definition and description of a W-2 form.
What is the Difference Between Full Time and...
Discussion of the difference between a full time or part time employee.
3 Definitions of Business Capital
Capital definition. US Business Law / Taxes.
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?
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.
Everything You Need to Shrink Your Business Tax...
Here is a discussion of how to calculate your home business space deduction
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.
Why Do I Need a Personal Guarantee for a...
Attorney Susan Dawson answers the question:
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.
Where Do I Find Forms for New Hires?
Where to get new hire forms - W-4 form, state withholding form, I-9, job application. How to sign up for E-verify and state employment registration. Finally, where to find new hire forms.
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.
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.
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.
What Does it Mean to Be Self-Employed?
Self employed, Self-employment. US Business Law / Taxes.
What Is Better for Taxes - the Standard Mileage...
Discusses benefits of actual expenses vs. standard mileage deduction
Employer's Guide to Payroll Tax Deposits
Discusses when to make payroll tax deposits.
A Guide to Partnership Income Taxes
How a partnership pays income tax, including the information return for the partnership and the forms used for each partner's portion of the income.
2 Types of Business Leases Compared
Choosing capital leases vs. operating leases for business equipment leases: capital leases for long-term and operating leases for short term, with other important differences.
What is a Reasonable Salary for a Corporate...
Salaries for corporation officers must be reasonable. What does that mean? Some considerations for paying corporate officers.
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.
8 Important Facts about Self-Employment Taxes
All about self-employment taxes.
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 Does the Term 'Employee' Mean, Anyway?
Describes an employee. US Business Law / Taxes.
What Defines a Salaried Employee?
A Salaried Employee is paid annually.
Setting up a Payroll System for Your Business
Create an earnings report for each employee and report gross earnings, withholding and deduction amounts, and net pay for each payroll and for year-to-date. Page 6.
No, Not All Property Is 'Real'
Real Property. US Business Law / Taxes.
How to Take a Debtor to Small Claims Court
If you have a customer who owes you money, you may have considered taking this person to small claims court. Here are the details of the small claims process.
Viability (of a Business)
Viability of a business. US Business Law / Taxes.
What Does a Corporate Board of Directors Do?
Describes the duties of a Board of Directors for a Corporation including board fiduciary responsibility
Payroll Taxes
Payroll Taxes. US Business Law / Taxes.
Consider This When Choosing a Business Type
How each business legal type pays income tax, including forms and processes.
Commissions and Fees Expenses
An explanation of the allowable deduction for commissions and fees paid to independent contractors.
How Do I Search for a Business Name and Reserve...
Before you incorporate a business or form an LLC in a state, you must check on the availability of the name by doing a business name search. If you don't want to file incorporation or LLC documents immediately, you can then reserve a business name with the state.
Deducting Startup Expenses - Before and After...
You can deduct the costs to start a business. Some costs can be deducted in the first year of business, while others can be amortized (spread out) over the first 60 months.
2 Ways Owners Equity Can Be Expressed
Definition of owners equity. US Business Law / Taxes.
7 Important Facts About Single-Member LLCs
Describes the single-member llc
Conflict of Interest
Definition of conflict of interest
Petty Cash - Why It's Important to Your Business
Petty cash - what is it? Why is petty cash important to your financial system? How petty cash affects taxes. How to set up a petty cash system.
What are the 2014 Changes to IRS Form 941?
Changes to IRS form 941 for 2014 include the additional Medicare tax for higher income employees, and a change in COBRA premium assistance payments.
Where to Get W-2 Forms
How to get W-2 forms to prepare and distribute to employees.
Sole Proprietor Businesses - What You Need to...
All about sole proprietors - what is a sole proprietor and sole proprietorship, how to start a sole proprietorship, taxes for a sole proprietor, income tax for a sole proprietor, advantages and disadvantages of a sole proprietor form of business.
Understanding the Member Role in an LLC
Member of a Limited Liability Company
What OSHA Regulations Do I Need to Know About...
Describes the OSHA regulations that all employers need to know about and comply with, including hazardous materials, OSHA poster, blood-borne pathogens, fire safety, and OSHA training.
How a Sole Proprietor Business Pays Income Tax
A sole proprietorship is taxed through the personal tax return of the owner, on Form 1040. The business profit is calculated and presented on Schedule C.
How the Small Claims Court Process Works - In...
Describes the small claims process, how to take a case to small claims court, how to present a case, what happens if you win or lose in small claims court.
March Madness - You Can't Use it to Sell...
March Madness is a registered trademark and can't be used to promote your products or services. Here are the details.
The Employer's Guide to W-2 Wage and Tax...
Describes how to gather information and prepare W-2 Wage and Tax Statements.
I Have Some Questions About Business Mileage...
Discussion of business mileage, including standard mileage vs. actual, how to calculate business mileage, and answers to questions about business mileage.
Capital Improvements - Capital Expenditures
Capital improvements, Capital Expenditures
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.

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