I guess we're live at your boy Jay Beret here coming to you once again in 2023 actually for the first time in 2023 but uh I had a great friend of mine here mr. Eric Smith out of Tulsa and I'm in Atlanta currently we're here to talk about w-4 withholding form and what it can do for you and benefit you and your family basically it's your right from day one and it's very it's a very misunderstood document within your your tax tax code or whatever but anyway without further ado I think we should get right into it and start breaking it down for you so it can help you and your fan mr. Eric Smith would you want to step in for me preview please what's up J Beret sir it's good to be here with you yes sir yes sir definitely man I tell you what this is one of my most exciting financial topics to talk about although it's one of the most basic and easiest thing to talk about it's one of the most important and you know actually Jason as I've talked to people in the interviewed folks that you know we're in tax season this particular document is where most people's financial either their financial blessings happen because this document is filled out correctly or their financial distress and their families on a monthly basis happen because this document is filled out incorrectly it's an important document as a matter of fact when you pull it up when we get into it we're going to point out the IRS tells people fill this document out every year or at least whenever your financial situation changes so that's so important so yeah man you want to we want to talk about...
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W-4 georgia Form: What You Should Know
Add your family information. · 5. File your regular Georgia state income tax, using the online Georgia state tax processor of The State of Georgia. 3. Fill out your personal information and claim your allowances on this Georgia W-4 Tax Form Georgia Tax Withholding Instructions (GA Form G-4) How to Complete the W-2 Tax Form W-2 How to Finish Getting Your Georgia Tax Return May 21, 2023 — Georgia Tax Tips from W2Facts May 20, 2023 — Georgia Tax Tips from W2Facts May 07, 2023 — Tax Tips from W2Facts May 02, 2023 — Georgia Tax Tips from W2Facts May 01, 2023 — Georgia Tax Tips from W2Facts May 05, 2023 — Georgia Tax Tips from W2Facts March 31, 2023 — Georgia Tax Tips from W2Facts March 31, 2023 — Georgia Tax Tips from W2Facts March 31, 2023 — Georgia Tax Tips from W2Facts March 31, 2023 — Georgia Tax Tips from W2Facts March 26, 2023 — IRS Tax Tips from W2Facts March 26, 2023 — Georgia Tax Tips from W2Facts February 24, 2023 — Tax Tips from W2Facts February 24, 2023 — Georgia Tax Tips from W2Facts February 24, 2023 — Georgia Tax Tips from W2 Facts March 01, 2023 — Georgia Tax Tips from W2Facts November 17, 2023 — Georgia Tax Tips from W2Facts Georgia Tax Tips From W3Facts How to Fill Out the Georgia Tax G-10 August 20, 2023 — Georgia Tax Tips from W3Facts How to Complete the S corporation G-10 What is the Georgia S corporation Form G-10 What is the Georgia S corporation Form G-10? The Georgia S corporation Form G-10 is an official document that states the number of LLC's you may have incorporated in the state of Georgia (including what your members' names are). This Georgia corporate status will affect the type of tax you can pay to the government of Georgia on the money that you make from your business.
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FAQ - W-4 georgia
How do I fill out a W-4 form?
The main thing you need to put on your W-4 besides your name, address and social security number is whether you are married or single and the number of exemptions you wish to take to lower the amount of money with held for taxes from your paycheck. The number of exemptions refers to how many people you support, i. e. children. Say you are single and have 3 children, you can put down 4 exemptions, 1 for your self and 1 for each child. This means you will have more pay to take home because you arenu2019t having it with held from your paycheck. If you are single and have no children, you can either take 1 or exemptions. If you make decent money, take deductions, if you are barely making it you could probably take 1 exemption. Just realize that if you take exemptions, and not enough money is taken out of your check to pay your taxes, you will be liable for it come April 15th.If you are married and have no children and you make decent money, take deductions. If you have children, only one spouse should take them as exemptions and it should be the one who makes the most money. For example, say your spouse is the major bread winner and you have 2 children, your spouse could take 4 exemptions (one for each member of the family) and then you would take exemptions.Usually, itu2019s best to err on the side of caution and take the smaller amount of deductions so that you wonu2019t owe a lot of money come tax time. If youu2019ve had too much with held it will come back to you as a refund.
How should I fill out my w-2 or w-4 form?
To calculate how much you should withhold you need to calculate two things.u00a0 Step 1 - Eyour TaxFirst go to Intuit's TaxCaster (Link - TurboTaxu00ae TaxCaster, Free Tax Calculator, Free Tax Refund Estimator) and put in your family's information and income (ewhat you'll make in 2023 before taxes and put zero for federal and state taxes withheld, don't worry that the TaxCaster is for 2023. you're just trying to get a general number).u00a0 Once you enter in your correct information it will tell you what you would owe to the federal government.Step 2 - Eyour Tax Withholding Based on Allowances ClaimedSecond go to Paycheck City (Link - Salary Paycheck Calculator | Payroll Calculator | Paycheck City) select the correct state, enter in your pay information.u00a0 Select married filing jointly then try putting in 3 or 4 for withholdings.u00a0 Once you calculate it will tell you how much taxes are being withheld.u00a0 Set the pay frequency to annual instead of bi-monthly or bi-weekly since you need a total number for the year.u00a0 Try changing the Federal withholding allowance until you have enough Federal taxes withheld to cover the amount calculated in the TaxCaster.u00a0 The Federal withholding allowance number that covers all taxes owed should be the number claimed on your W-4.Don't worry too much about your state.u00a0 If you claim the same as Federal what will usually happen is you might get a small refund for Federal and owe a small amount for State.u00a0 I usually end up getting a Federal refund for ~$100 and owing state for just over $100.u00a0 In the end I net owing state $20-40.Remember, the more details you can put into the TaxCaster and Paycheck City the more accurate your tax ewill be.u00a0
Why did my employer give me a W-9 Form to fill out instead of a W-4 Form?
I wrote about the independent-contractor-vs-employee issue last year, see http://nctaxpro.wordpress.com/20...Broadly speaking, you are an employee when someone else - AKA the employer - has control over when and where you work and the processes by which you perform the work that you do for that individual. A DJ or bartender under some circumstances, I suppose, might qualify as an independent contractor at a restaurant, but the waitstaff, bus help, hosts, kitchen aides, etc. almost certainly would not.There's always risk in confronting an employer when faced with a situation like yours - my experience is that most employers know full well that they are violating the law when they treat employees as independent contractors, and for that reason they don't tolerate questions about that policy very well - so you definitely should tread cautiously if you want to keep this position. Nonetheless, I think you owe it to yourself to ask whether or not the restaurant intends to withhold federal taxes from your checks - if for no other reason than you don't want to get caught short when it comes to filing your own return, even if you don't intend to challenge the policy.
I want to invest my IRS withholdings. How do I fill out a W-4 so my employer does not do federal withholding?
Legally you canu2019t. Those withholdings are not yours. They are payments towards your tax liability, made at the time that you earn the income. Pay as you go. It makes sense.So what you want to do is borrow money that isnu2019t really yours, interest free, invest it for a few months, and then pay it back the next year. Is that correct? While itu2019s not really permitted you can manage to get away with it. You canu2019t easily get away with stopping all withholding. That requires stating that you expect to pay zero taxes for the year, which you know is false. It looks suspicious and is easy for the feds to check. Instead, what you can do is reduce your withholding by claiming a large number of exemptions. Thatu2019s not nearly as suspicious. When you complete your return youu2019ll owe a lot of tax, which is clearly against the rules, but youu2019ll probably get away with it at least for a year or two and maybe longer depending on how lax the IRS is in enforcing the law on scamsters like yourself.I used to claim a large number of exemptions. It was legitimate since I actually had a lot of deductions at that time. But a couple of years I accidentally withheld too little money, more than a couple of thousand dollars. I paid the tax with my return and adjusted my withholding going forward and the IRS didnu2019t penalize me or question it afterwards. But if youu2019re talking about under withholding by a lot more than that and year after year then good luck. You might get caught, forced to pay a penalty and interest, and be flagged for special attention in the future.
How much do accountants charge for helping you fill out a W-4 form?
A W-4 is a very simple form to instruct your employer to withhold the proper tax. It's written in very plain English and is fairly easy to follow. I honestly do not know of a CPA that will do one of these. If you're having trouble and cannot find a tutorial you like on line see if you can schedule a probing meeting. It should take an accounting student about 10 minutes to walk you through. There is even a worksheet on the back.If you have mitigating factors such as complex investments, partnership income, lies or garnishments, talk to your CPA about those, and then ask their advice regarding the W4 in the context of those issues.
Is it okay for a statutory employee to fill out a W-9 instead of a W-4?
Because the employer does not withhold taxes from the wages of statutory employees, a Form W-4 is not required.The employer does have IRS filing requirements for statutory employees where the employer needs the employee's taxpayer ID number, and Form W-9 is the recognized way to request a taxpayer ID number.So everything here is correct.
How do I fill out the SS-4 form for a new Delaware C-Corp to get an EIN?
You indicate this is a Delaware C Corp so check corporation and you will file Form 1120.Check that you are starting a new corporation.Date business started is the date you actually started the business.u00a0 Typically you would look on the paperwork from Delaware and put the date of incorporation.December is the standard closing month for most corporations. Unless you have a significant business reason to pick a different month use Dec.If you plan to pay yourself wages put one.u00a0 If you don't know put zero.Unless you are fairly sure you will owe payroll taxes the first year check that you will not have payroll or check that your liability will be less than $1,000. Anything else and the IRS will expect you to file quarterly payroll tax returns.Indicate the type of SaaS services you will offer.
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