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Showing content with the highest reputation on 12/24/2019 in all areas

  1. Well, is it okay if I'd prefer the previously check-sized W-4 instead of the new "simplified" five-page form? Getting the average fast-food employee to fill out the new W-4 correctly is going to be about as likely as their getting a fast-food order right (maybe 50%). And then we get to follow it up with the following red-tape special: Yes, yes; it's just wonderful! How to Use the Tax Withholding Assistant Open the Tax Withholding Assistant and follow these steps to calculate your employees’ tax withholding for 2020. Be sure that your employee has given you a completed Form W-4. The Assistant can accommodate both the 2020 Form W-4 and Forms W-4 from prior years. You will want to save a separate copy of the spreadsheet for each employee. Indicate how frequently you pay your employee. Specify which version of Form W-4 applies to the employee. Enter the requested information from your employee’s Form W-4. Save a copy of the spreadsheet with the employee’s name in the file name. Each pay period, open each employee’s Tax Withholding Assistant spreadsheet and enter the wage or salary amount for that period. The spreadsheet will then display the correct amount of federal income tax to withhold.
    2 points
  2. I couldn't resist sharing this one here. Again, Merry Christmas to everyone, and thank you to every one of you for making this a great place.
    1 point
  3. A real "prepper" would show zero clues to anyone outside of their circle, and would not ask for such advice from even their tax person .
    1 point
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