PBS Poll-435
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Sun Dec-12-10 05:30 PM
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| Can you imagine calculating and preparing Payroll Tax Returns next year... |
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If the stupid 2% cut to FICA/MI passes?
Talk about your nightmares!
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| mzteris
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Sun Dec-12-10 05:34 PM
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| 1. it's pretty much all computerized now . . . n/t |
| PBS Poll-435
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Sun Dec-12-10 05:35 PM
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| 2. Anyone who relies on computers in their prep for 941s/940/W2/SUTA/FUTA |
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Is just begging for trouble.
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| Ruby the Liberal
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Sun Dec-12-10 05:40 PM
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| 3. Bah. Companies like ADP and software providers who specialize in Payroll |
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do this coding for a living. Annually. When things change, they recode everything and if need be, calculate the backdated amounts due.
Not going to be a problem.
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| PBS Poll-435
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Sun Dec-12-10 05:43 PM
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| 5. My understanding of the proposal is that |
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Employer contribution rate for SS remains at 6.2% but the Employee contribution rate changes to 4.2%
Medicare stays the same.
The art of a properly filed PR tax return is the mirror image of Employer/Employee contributions plus the Federal Income Tax Witheld.
This might get confusing for small business tax preparers.
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| Ruby the Liberal
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Sun Dec-12-10 08:38 PM
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| 9. Thats why they rely on the software vendors who code this stuff for a living. |
| PBS Poll-435
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Sun Dec-12-10 09:03 PM
Response to Reply #9 |
| 10. Call me old fashioned, but I balance everything by hand |
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Before I ever put the data into a processing program.
I hate change! :P
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| Ruby the Liberal
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Sun Dec-12-10 11:17 PM
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| 11. I hear ya. Still, look into processing systems and get references (!) |
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I was in that industry for a while. They take it VERY seriously as a bad rep can kill the business in no time.
They can save you a mountain of time and worry - and will stand behind their calculations.
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| HereSince1628
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Sun Dec-12-10 05:40 PM
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| 4. Yeah, being unemployed, and also having no employees, |
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I don't see a problem for me at all.
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| WCGreen
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Sun Dec-12-10 05:46 PM
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| 6. As a small business accountant, not a problem.... |
| tosh
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Sun Dec-12-10 06:00 PM
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| 7. Same here. Not a problem. |
| TheCowsCameHome
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Sun Dec-12-10 06:03 PM
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| 8. I'm sure it can be done. |
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Don't worry over nothing.
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| DeadEyeDyck
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Sun Dec-12-10 11:18 PM
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