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Money Matters With Matt

State Income Taxes: Calculating Payroll - Money Matters

September 7, 2017

Alleviating Year End Payroll Stress with the Special Accounting Rule

Use the Special Accounting Rule to relieve future Year End Stress As we find ourselves rounding the curve into the latter half of 2017, it’s the ideal time to start forecasting for the many to-dos that come with the quickly approaching year’s end. While the final calendar months are laden with fun, it also comes […]

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State Income Taxes: Calculating Payroll - Money Matters

May 11, 2017

How are Payroll Taxes Calculated? – State Income Taxes

Previously, we reviewed how federal income taxes were calculated. State income taxes, with a few exceptions, are calculated very similarly to federal income taxes. But there are some states that have no state income tax at all. Which States Don’t Have State Income Tax? There are nine states where you will not see state income […]

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State Income Taxes: Calculating Payroll - Money Matters

April 20, 2017

How are Payroll Taxes Calculated? – Social Security and Medicare

In my previous blogs, we discussed how to calculate federal income tax. Some other big amounts that come out of our paychecks are for Social Security and Medicare taxes. How are Social Security taxes calculated in payroll? What wages are taxed for Social Security and Medicare? Social Security and Medicare taxes go hand in hand. […]

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State Income Taxes: Calculating Payroll - Money Matters

March 28, 2017

How are Payroll Taxes Calculated? – Federal Income Tax Withholding

In my previous blog we looked at the best methods for determining our federal income taxable wages. Now that we know our taxable wages, we’re ready to calculate the federal income tax withholding. Federal Income Tax Withholding is an Estimate The first thing to remember is that federal income tax withholding is an estimate. Its […]

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State Income Taxes: Calculating Payroll - Money Matters

March 20, 2017

How are Payroll Taxes Calculated? – Federal Income Taxable Wages

Mark Twain once asked, “What is the difference between a taxidermist and a tax collector?”  His answer, “The taxidermist only takes your skin.” Sometimes, it can feel like we’re slowly being skinned as we see our precious earnings taken away in payroll taxes. How do we know that the amount taken for federal withholding is […]

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State Income Taxes: Calculating Payroll - Money Matters

February 8, 2017

W-2 Email Scam Continues to Affect Businesses

Businesses’ HR and payroll departments are the targets of a W-2 email scam, according to the Internal Revenue Service (IRS).    The IRS reissued a warning about a W-2 email scam that is targeting payroll and human resources (HR) departments. It’s critical that payroll and HR officials double-check all unusual and executive-level requests for lists […]

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