If you lose your job or your employer lays you off, you may be able to get unemployment benefits. The payments may be a welcomed relief. But you should know that they’re taxable. If you received unemployment compensation last year, here are five important facts from the IRS to know as you prepare and file your 2013 tax return.
I suspect as a payroll service provider, you’ve never given much thought to the sales tax outsourcing concept or to the fact that your clients probably need to outsource sales tax as much as they do payroll. Sales Tax in and of itself is outside the standard thinking of a typical Payroll company and their core offering. The reality is payroll outsourcing and sales tax outsourcing are more closely aligned than you might think.
Looking for California state tax information? PaycheckCity’s sister site Payroll-Taxes.com houses all of the tax research behind the paycheck calculators on PaycheckCity. California is always one of the most requested and searched states for payroll tax information. Read this article for our current research on California taxes including state tax, unemployment, income tax, and more.
As the 2014 Winter Olympics came to a close over the weekend, medal winners from around the globe may be facing an increase in their taxable income. The U.S. Olympic committee awards cash prizes to medal winners--$25,000 for gold, $15,000 for silver, and $10,000 for bronze. Awarding cash prizes to medal winners is a common practice among countries. But what happens when Olympians are taxed on their winnings?
For parents, each little bundle of joy can also bring savings come tax time. PaycheckCity has compiled a list of tips to be aware of to help parents with their federal tax returns this year. From child care credits to higher education credits, parents can take advantage of what Uncle Sam has to offer this tax season.