PDA

View Full Version : how to start taking care of social security tax



florida1979
10-15-2014, 07:12 AM
Hi,
I hope someone can explain to me how this works.

I created cleaning company Inc. last year and few months ago I added my husband(we got married this year) as co-owner. We want to pay next year jointly. He has stable income(maintainance) that he can put on company name and I have so far one small job that makes 500$month. Besides this I have few investments as my income. We want to start pay social security tax , what is the best way to do? How to do this? We are both self employed. I know we will need accouter , but I'm trying figure out how the things works here as we both came from foreign country.

Thank you

taxcpa
11-11-2014, 02:36 PM
There is a lot to your question. Social security tax is paid half by the employee and half by the employer. The employee half is withheld from the employee's paycheck. Self-employed people pay both the employee and employer portions, but it is called "self-employment tax."

Your question says you have created a corporation. If you did create a corporation you are NOT self-employed. You should be hired as an employee of your corporation and get a paycheck. You and your employer will pay social security tax just like any other employee.

If you don't really have a corporation, than you pay the self-employment tax mentioned above. This can been tricky to understand at first. I wrote some articles on this subject that explains this in more detail.

See this article for income and self employment tax - click here (http://www.newcompanyinfo.com/income-tax-and-self-employment-tax)

For info on how to hire yourself as an employee of a corporation you own, click here. (http://www.newcompanyinfo.com/how-to-be-your-own-employee)

There are links to other articles as well.

Theses are just articles I wrote and posted on my website, They are too long to put here.

angelina89
12-08-2014, 09:22 PM
It sounds (Talletusbonus-koodi.com) difficult to understand. Eveything related to tax always makes me nervous.

greenegg
09-22-2015, 02:39 AM
I think you'd better go to consult a relevant sector or professionals, after all, this is a very important thing:)

AdminAccount
11-24-2015, 03:32 AM
Your questions are fairly simple, but the law of taxation isn't. Though you will want to employ an accountant, a more prudent way to receive the same kind of advantage is to contract services with a managed service provider. Generally a managed service provider is able to provide most accounting (including taxation works; the two are inseparable) services at a fraction of cost. In short, a managed service is like a big repository of taxation skills that comes for the price of a bookkeeper.

rebeccasexy
11-20-2019, 07:30 AM
In determining the factors that affect the level of awareness and voluntary awareness of taxpayers must be reviewed in advance the scope of the discussion. Because when compared between taxpayers PPh, PPN and PBB are very different character of the taxpayer community. This is also influenced by the system where the UN in its calculation still adheres to the office assessment system while the non-UN has embraced self assessment.

raviseo1
11-21-2019, 11:56 AM
Thanks for sharing with us
http://www.drdeepashuneurosurgeon.in/blog/spine-neuro-surgery-hospital-in-jalandhar-himachal-jammu-kashmir/
http://www.drdeepashuneurosurgeon.in/blog/neuro-surgeon-in-jalandhar-himachal-jammu-kashmir/

Malnisharma
04-15-2020, 02:41 AM
Social Security is another name for the Old-Age, Survivors, and Disability Insurance (OASDI) program in the U.S. It is the primary retirement income for most Americans. It is an insurance program, and for the most part, all workers are required to pay into it

dungcupt
04-15-2020, 03:33 AM
You should be looking for an accountant to advise you

gamingzip
04-18-2020, 05:07 AM
Government disability is another name for the Old-Age, Survivors, and Disability Insurance (OASDI) program in the U.S. It is the essential retirement pay for most Americans. It is a protection program, and generally, all laborers are required to pay into it Source
(https://www.gamingzip.com/) or More Info (https://www.gamingkite.com/)

Kehelm
05-03-2020, 08:18 AM
it became clearer to me now. thank you!

MMPR
06-15-2020, 04:41 AM
Manager supported medical coverage premiums are absolved from Social Security finance charges, henceforth called "Standardized savings charges." interestingly, health care coverage approaches bought outside the work environment—including those bought through human services trades—are dependent upon Social Security charges. Some policymakers have proposed applying the Social Security duty to all medical coverage premiums, including manager supported health care coverage premiums. Government disability's Trustees venture a drawn out subsidizing shortage (Board of Trustees 2016). Counting all premiums as pay subject to Social Security expenses would close over 33% of the deficit.

Lilykevin86
07-18-2020, 01:53 AM
Extending remuneration subject to Social Security finance duties to incorporate If policymakers make no move, Social Security's consolidated trust supports will be As medicinal services costs have risen,

raviseo120
10-21-2020, 11:19 AM
Thanks for sharing with us

moverdubai12
11-08-2020, 11:26 PM
To demand an exception from Social Security charges, get Form 4029—Application for Exemption From Social Security and Medicare Taxes and Waiver of Benefits from the Internal Revenue Service (IRS). At that point, record the structure with the Social Security Administration (address is on the structure).

jacksonsamy2
11-09-2020, 11:46 PM
To request an exemption from Social Security taxes, get Form 4029—Application for Exemption From Social Security and Medicare Taxes and Waiver of Benefits from the Internal Revenue Service (IRS). Then, file the form with the Social Security Administration (address is on the form)

moverdubai12
11-17-2020, 01:35 AM
To demand an exclusion from Social Security taxes, get Form 4029—Application for Exemption From Social Security and Medicare Taxes and Waiver of Benefits from the Internal Revenue Service (IRS). At that point, document the structure with the Social Security Administration (address is on the structure).

moverdubai12
11-30-2020, 04:29 AM
How would you pursue Social Security? You can apply for retirement benefits online at www.ssa.gov, or call our complementary number, 1-800-772-1213 (TTY 1-800-325-0778). Or on the other hand you can plan to visit any Social Security office to apply face to face.

raviseo121
12-08-2020, 11:02 PM
thanks for sharing with us

raviseo121
12-12-2020, 01:23 AM
thanks for sharing with us

ishusri
01-08-2021, 12:41 AM
NDT Courses in Chennai | NDT Institute in Chennai
IEQS offer NDT courses in Chennai and NDT Institute in Chennai provide the quality training with 100% placement and conduct the different types of NDT Courses.
CONTACT US
IEQS Group
3, Hayath Plaza, 2nd Floor, Nambi street (Near Bust Stand), Poonamallee., Sannadhi Street, Poonamallee, Chennai, Tamil Nadu 600056
Mobile*: +91 99408 55218
Mail ID*: enquiry@ieqsgroup.com
Mail ID*: ieqsgroup@gmail.com
Website*: www.ieqsgroup.com
Tambaram Branch
№5, Gandhi Road, West Tambaram - 600 045
Mobile*: +91 99408 55218, 8754423725
Landline: 044–2649 4725
Mail ID*: enquiry@ieqsgroup.com
Mail ID*: ieqsgroup@gmail.com
Website*: www.ieqsgroup.com

raviseo120
01-10-2021, 09:52 AM
Thanks for sharing with us

alishbasaki
01-15-2021, 10:56 PM
You have some power over when to take withdrawals from retirement accounts during your 60s, since you can start taking punishment free .

lishmaliny
03-18-2021, 08:45 AM
You can download the form or call the IRS toll-free at 1-800-829-3676 and ask for Form W-4V, Voluntary Withholding Request. (If you are deaf or hard of hearing, call the IRS TTY number, 1-800-829-4059.) When you complete the form, you will need to select the percentage of the monthly benefit amount you want to be withheld.

RaniaRanii3
05-08-2021, 03:35 PM
That is, a larger part of the individuals who get Social Security benefits pay personal assessment on do beginning today to limit the measure of annual charges you pay subsequent to resigning. yet, before you resign, to deal with the assessments before you need the cash.

RaniaRanii3
05-22-2021, 12:04 AM
Instructions to Avoid Paying Taxes on Social Security Income after you're 59½ however before you resign, to deal with the charges before you need the cash. Most counsel on Social Security benefits centers around when you should begin taking advantages.

nadiasonii
05-29-2021, 01:47 AM
4 Ways to Avoid Taxes on Your Social Security Benefits
Buy a QLAC. You can invest up to $125,000 from your IRA or 401(k) in a special version of a deferred-income annuity called a Qualified Longevity Annuity Contract (QLAC). ...
Withdraw money from tax-free Roths. ...
Be careful with income investments. ...
Put your tax moves into perspective.

homeocare
05-31-2021, 04:59 AM
Thanks for sharing with us

raviseo121
06-02-2021, 01:09 AM
thanks for sharing with us

homeocare
06-03-2021, 06:51 AM
Thanks for sharing with us