Showing posts from January, 2013

W-4 2013

A W-4 determines how much of your income will be withheld by the government. It is a form you fill out at least once a year, maybe more. This depends on if there are any changes in your life. For example if you get a second job, go from single to married or vice versa, or have any children this can affect your income withholding's. By updating it regularly you minimize the chance of having too much or too little withheld by the government.
The newest alteration to the W-4 2013 form are the changes in the tax and withholding tables. You can take a look at theTax Withholding Tables online as well.
Below is an image of what this years W-4 2013 form looks like.
To get a copy of your latest W-4 2013 form, go to the IRS W-4 Pageto download it today and make sure to update it regularly!
TIP: Individuals must have W-4 forms in by 2.15.2013!

January To-do's

Welcome back for another year of advice, tips, and helpful information from The QuickBooksGal

We all know that January can be a very busy month for most of us. TheQuickBooksGalis here to help alleviate any stress and worries that you may have with a January To-do list.
January To-do List:
Stepone: W-4's  Download or order your IRS W-4 forms and have all employees fill out and sign them. If there are any changes to withholding that need to be made, now is the time to do it.                  *As of today the forms are still not available, but you can find them here at IRS Forms when they become available. 
Step two: W-2's Order W-2 forms atQBGal Store to receive a 20% discount. Send W-2 forms to employees no later than January 31st.W-2's are a four part form.  Copy A goes to the Social Security AdministrationCopies B & C go to the employeeCopy D the employer retains for their recordsStep three:  Use W-3 form which is a recap sheet that indicates how ma…