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4025 Automation Way #D1 (Map)
Fort Collins, CO 80525
Phone: 970-226-4686

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Additional Medicare Tax

Posted on February 6, 2013 by Leasa Magnuson in Business Tax, Individual Tax

In 2013 there is a new .09% Medicare Tax.   It affects individuals or self employed persons whose income exceeds $250,000 for MFJ ($125,000 MFS/$200,000 Single).   Employers must withhold the additional tax from wages paid in excess of $200,000, without regard to the person’s filing status. Employers are not required to notify employees when […]

View Post Medicare Tax, New .09 Medicare Tax, Payroll Taxes

Reminders About Filing W2s

Posted on December 31, 2012 by Leasa Magnuson in Business Tax

As the new year begins I thought it might be helpful to keep the following procedures in mind when preparing your W2s and W3. Form W-3 is the total of all Forms W-2. The sum of line 2 for the four quarters on Form 941 should balance to the amount appearing in Box 1 of […]

View Post Payroll Taxes, W2

Santa is Mad at Congress

Posted on December 21, 2011 by Leasa Magnuson in Business Tax, Individual Tax

Santa has never been political but if Congress’ doesn’t make some difficult decisions soon and cut some government sponsored programs and increase some taxes he is going to pull all his white hair out and retire to a deserted island somewhere, never to deliver toys again.  All the indecision makes it difficult for him to […]

View Post Confusing Tax Code, Payroll Taxes, Section 179, Year End Tax Planning

Is Payroll Tax Reduction a Good Idea?

Posted on September 14, 2011 by Leasa Magnuson in Business Tax, Individual Tax

On September 8, 2011 President Obama presented his proposals for boosting the economy. I confess I did not listen to his speech but have read bits and pieces of it and what jumps out at me is the reduction in payroll taxes. Earlier this year I blogged about employee’s having to pay 2% less in […]

View Post Payroll Taxes, Social Security Tax

FUTA Surtax Set to Expire the First of July 2011

Posted on May 18, 2011 by Leasa Magnuson in Business Tax

Employers currently pay 6.2% on the first $7,000 of wages paid annually to each employee. The 6.2% is made up of two parts. A permanent rate of 6% and a .2% temporary surtax. The temporary surtax has been in effect since 1976 when it was first enacted. The most current legislation has it expiring July […]

View Post FUTA Tax, Payroll Taxes

IRS to Drop Use of Paper Coupons After 2010

Posted on August 25, 2010 by Leasa Magnuson in Business Tax

If you use the paper 8109B coupons to pay your FICA withholding income taxes or your corporate income and estimated taxes be forewarned. The IRS has issued proposed regs to eliminate the use of the paper coupons and force the use of Electronic Federal Tax Payment System (EFTPS). EFTPS is a safe convenient way of […]

View Post EFTPS, Form 8109B, Payroll Taxes

Recent Posts

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    June 11, 2014
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    March 20, 2013
  • Tax Implications of Bartering

    March 8, 2013

Testimonials

Working with Leasa and NoCo CPA's has been a pleasurable and positive experience.

Having several businesses and a few complicated tax situations over the years, Leasa has was able to provide professional, clear direction and assistance.

As with all accountants, don't delay in getting your information to them so they have plenty of time to work on your taxes.

Leasa of NoCo CPA's is fairly priced and she's always willing to help you out.

I highly recommend NoCo CPA's!

Miles

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4025 Automation Way #D1 (Map), Fort Collins, CO 80525 - Phone: 970-226-4686