o-r DAVISN HODEiDO)\j ASSOC:IATES
|
|
- Arthur Lambert
- 5 years ago
- Views:
Transcription
1 DAVISN HODEiDO)\j ASSOC:IATES CPAs PLC WORKSHEET TO CALCULATE INCOME FROM PERSONAL USE OF COMPANY VEHICLE EMPLOYER'S WORKSHEET TO CALCULATE EMPLOYEE'S TAXABLE INCOME RESULTING FROM EMPLOYER-PROVIDED VEHICLE FOR CALENDAR YEAR 2018 As a result of increasing IRS scrutiny, we are requesting more documentation as it pertains to company provided automobile mileage. Use the worksheet provided to calculate the value of personal use of any company-owned vehicles. The personal use should be added to the employee's W-2 or recorded as a shareholder loan. We will be requesting a completed copy of these worksheets as we begin preparing the business tax return for As part of that worksheet, we will also be asking for confirmation that you have documentation to support the business use of the vehicle as indicated on the worksheet. We will also need total mileage for the vehicle with the assumption that all other mileage will be treated as personal use (per IRS guidelines, estimates are not acceptable). We appreciate your understanding with regard to the need for the added documentation. *If desired, we can also provide sample auto usage policies to distribute to your employees. EMPLOYEE: DESCRIPTION OF VEHICLE: DATE VEHICLE FIRST MADE AVAILABLE TO ANY EMPLOYEE: DATE VEHICLE FIRST MADE AVAILABLE TO THIS EMPLOYEE: A. Last year's odometer reading B. This year's odometer reading C. Total miles for the year (B-A) D. Business miles E. Personal miles F. Personal % (C-D) (E/C) METHOD I- ANNUAL LEASE VALUE METHOD (For autos available 30 days or more) Fair market value of vehicle (to be re-determined at the beginning of the first year and every four years thereafter Annual lease value, per attached chart $ $ Enter number of days during the year that the vehicle was available X Divide by number of days in tax year Prorated annual lease value Personal use % (personavtotal miles, per "F" above) Personal annual lease value If fuel is provided by employer, enter personal miles x 5.5 cents X o/o $ + Personal use taxable income (to be added to employee W-2) =$
2 HODS Dei)., CPAs PLC WORKSHEET TO CALCULATE INCOME FROM PERSONAL USE OF COMPANY VEHICLE EMPLOYER'S WORKSHEET TO CALCULATE EMPLOYEE'S TAXABLE INCOME RESULTING FROM EMPLOYER-PROVIDED VEHICLE FOR CALENDAR YEAR 2018 METHOD TI- STANDARD MILEAGE RATE METHOD Generally, in order to qualify to use the cents-per-mile method, the vehicle must: (1) be expected to be regularly used in the employer's business throughout the calendar year, or (2) be driven at least 10,000 miles per year, and (3) have a fair market value of $27,300 or less for passenger automobile or $31,000 or less for truck or van. Once this method is adopted for a particular vehicle, it must be continued until the vehicle no longer qualifies. Enter personal miles If fuel is NOT provided by the employer enter personal miles X $0.545 = ---- X $0.055 = $ ( ) Personal use taxable income (to be added to employee W -2) $ METHOD Ill - SPECIAL COMMUTING METHOD This method may only be used for vehicles covered by a written policy that allows commuting but no other personal use. DO NOT USE if employee is a 1% or more owner, an officer with compensation of $110,000 or more, or an individual with compensation equaling or exceeding $220,000. Number of commuting round trips made Value per round trip Personal use taxable income (to be added to employee W -2) x,$=3=.0=0 $
3 HODSDON CPA s PLC EMPLOYEE REPRESENTATION REGARDING USE OF COMPANY VEHICLE TO BE COMPLETED BY ALL EMPLOYEES WHO WERE PROVIDED A VEHICLE The IRS requires employers to provide certain information on their tax return with respect to the vehicles provided to employees. This information is also used to calculate the amount of the fringe benefit to be included on your Form W-2 income. The IRS generally requires that written records be maintained to document the business use of vehicles. Since the company policy requires employees to maintain the detailed records, please provide answers to the following questions. If you were provided more than one vehicle that was used during the year, you need to prepare a separate statement for each vehicle. The completed form must be returned no later than (date) or 100% of the value of the use of the vehicle will be included in your Form W -2 income. Employee name Description of vehicle Reporting period from to Odometer reading: Beginning _ Ending Employee Representation (1) Was the vehicle available for your personal use during off-duty hours? YES NO (2) Did you have another vehicle available for your personal use (this includes a vehicle you own personally)? (3) Are you an officer or 1% or more owner of the business? (4) How many commuting round trips did you make in this vehicle? (5) For the reporting period specified above, please provide the number of miles for each of the following categories: Commuting miles Other personal (non-commuting) miles Total personal and commuting miles Total business miles Total miles ( 6) Did the employer pay the cost of fuel consumed by this vehicle? (EMPLOYEE SIGNATURE) (DATE) 1:\Common\Tax\Checklists & Worksheets\Comoanv vehicles\comoanv Vehicle Wkst(s) for Uodated.docx
4 DAVISN HODSDON AS!iDC I A T I!!S CPA s PLC YEAR-END PAYROLL REPORTING WORKSHEET Company: Employee: Please process the following as part of my payroll for the period D Health insurance premiums for greater than 2% shareholders of an S Corporation Please add$ to box 1 of the above employee's W-2 wages for year-end reporting purposes. In accordance with IRS regulations, this amount should not be subject to withholdings for Social Security, Medicare, FUT A, SUT A, Federal Income Tax or State Income Tax. Please include the above amount in box 14 with a description of"2% HI" D HSA Contributions for greater than 2% shareholders of an S Corporation Please add$ to box 1 of the above employee's W-2 wages for year-end reporting purposes. In accordance with IRS regulations, this amount should not be subject to withholdings for Social Security, Medicare, FUT A, SUT A, Federal Income Tax or State Income Tax. Please include the above amount in box 14 with a description of"2% HSA" D Personal use of company vehicle Please add$ to box 1 of the above employee's W-2 wages for year-end reporting purposes. In accordance with IRS regulations, this amount should be subject to withholdings for Social Security, Medicare, FUT A, SUT A. Please include the above amount in box 14 with a description of"auto" D Withhold Federal Income Tax and State Income Tax D Do not withhold Federal Income Tax and State Income Tax D Group term life insurance of$. Please add to the above employee's W-2 wages for year-end reporting purposes. In accordance with IRS regulations this amount should be subject to withholdings for Social Security, Medicare but not subject to FUT A, SUT A, Federal Income Tax or State Income Tax. D Bonus Please include the above amount in box 12 with a code of"c" Please add$ as a bonus to the above employee's W-2 wages. D The bonus should have withholdings for all payroll taxes and income taxes in accordance with general processing policies for bonuses. D The bonus should be paid out as follows: Gross bonus amount $ Social Security withholding $ Medicare withholding $ Federal Income tax withholding $ VT State Income tax withholding $ Net bonus amount $ 1:\Common\Tax\Checklists & Worksheets\YE PAYROLL Reporting Worksheet doc
5 D-r HDD6DDN ASSOCIA T ES C PA s PL C SAMPLE AUTOMOBILE USAGE POLICIES 1. POLICY PROHIBITING ALL PERSONAL USE OF COMPANY VEHICLES Management has adopted the fo ll owing policy regarding personal use of Company-owned ve hicles: Vehicles owned or leased by thi s Company are to be used so lely for Company business. There shall be no personal use of the vehicles (including commuting to and from wo rk). fndividu als driving Company vehicles may have occasions where an incidental stop is necessary between business stops. Such use shall not be considered to be in violation of this policy. The Company requires that ve hi cles not in use shall be parked in designated areas on the Company premises. No personal items are to be stored in the vehicles. Company materials and supplies are to be secured in the trunk, lock boxes or within the Company offices. Keys are to be returned to upon the close of business each day.
6 D-f HDD6DDN CPA s PLC SAMPLE AUTOMOBILE USAGE POLICIES 2. POLICY PROHIBITING ALL PERSONAL USE OF COMPANY VEHICLES EXCEPT COMMUTING Management has adopted the following policy regarding personal use of Company-owned vehicles: For business reasons, certain employees have been des ignated to drive a Company-owned vehicle to and from their res idence. This shall be the only authorized personal use of the ve hicle. Individuals dri ving Company ve hicles may have occasions where an incidental stop is necessary between business stops. Such use shall not be considered to be in violation of thi s policy. The Company requires that no personal items other than incidentals be stored in the vehicle. The vehicle is to be locked when not in use with work a1t icles stored either in the lock box or trunk during tim es when the vehicle is not in use. The Company will compute a daily va lue for the commuting which w ill be included in the employee's Form W-2 at the end of the ca lendar year. Such amount will be the minimum allowed by federal income tax laws. Note: Jntemal Revenue Service regulations require the Company to maintain evidence which would enable the IRS to determine whether use of the vehi cle is in accordance with policy maintained by the Company.
7 HDD6D DN C PA s PLC SAMPLE AUTOMOBILE USAGE POLICIES 3. POLICY REGARDING CUT-OFF DATE TO CALCULATE THE VALUE OF PERSONAL USE OF COMPANY -OWNED VEHICLES Management has adopted the following policy regarding computation of the taxable value of the personal and commuting use of Company-owned vehicles: The personal and commuting use of Company vehicles will be computed for the twelve months ending (October 31, November 30 or December 31 ). Annually, the Company requires you to provide complete accounting of the personal use of the vehicle as of. The taxable value ofthe personal use will be computed using the least costly method allowable by tax law. This income will be considered paid as of and federal, state (if appropriate) and Social Security/Medicare* withholding will be deducted from your paycheck. OR The taxable value and related withholding amounts will be reflected on your Form W-2 at year-end. Please address your questions to *The Company may elect to withhold only Social Security/Medicare. If so the paragraph should read as follows: This income will be considered paid as of and Social Security/Medicare withholding will be deducted from your paycheck. I:\Co rnmon\tax\checkiists & Worksheets\Compan y ve hicle>\sam PL E AUTOMOB IL E USAGE POLIC IES 20I8.docx
VEHICLE RELATED GUIDES EMPLOYER POLICIES REGARDING USE OF COMPANY VEHICLES
VEHICLE RELATED GUIDES EMPLOYER POLICIES REGARDING USE OF COMPANY VEHICLES Three policies have been included that may be provided to clients as examples. Policies 1 and 2 are optional for an employer.
More information2016 VEHICLE POLICY AND INCOME INCLUSION GUIDE
EMPLOYER policies REGARDING USE of COMPANY vehicles Three policies have been included that may be provided to clients as examples. Policies 1 and 2 are optional for an employer. Policy 3 is required in
More informationCompany Car Guidelines
December 2017 Company Car Guidelines As year end approaches, it is time to start thinking about preparing W-2 s. One commonly asked question is How should employees personal use of company automobiles
More informationCygan Hayes, Ltd. Certified Public Accountants
Cygan Hayes, Ltd. Certified Public Accountants Employees Personal Use of Company Vehicles As the year end approaches, it s time to start thinking about preparing W-2 s. One of the more commonly asked questions
More informationIf the vehicle listing needs to be updated or changed, please a list of the changes to
Statewide Office of Human Resources 907-450-8200 (telephone) 907-450-8201 (fax) March 20, 2018 TO: FROM: SUBJECT: Department Heads Laycie Schnekenburger Senior Tax Accountant, SWOHR Personal Use of University
More information2017 Guide to Valuation of Personal Use of Employer-Provided Vehicles and Other Select Taxable Fringe Benefits
2017 Guide to Valuation of Personal Use of Employer-Provided Vehicles and Other Select Taxable Fringe Benefits Changes to note: The automobile mileage rates are: 53.5 cents for 2017 54.5 cents for every
More informationMarch 20, Regional Payroll Offices. Laycie Schnekenburger Senior Tax Accountant Statewide Human Resource Accounting
Statewide Office of Human Resources 907-450-8200 (telephone) 907-450-8201 (fax) March 20, 2018 TO: Regional Payroll Offices FROM: Laycie Schnekenburger Senior Tax Accountant Statewide Human Resource Accounting
More informationnamed 2018 Year End Packet Action Items that summarizes the required steps to be taken for each item.
HUTS N G BBLE LLC Important - Time Sensitive Dear Clients, As the end of the year approaches, there are several important items that are required to be reported on employee and employee-owner W-2 s. These
More informationSUPPLEMENTAL GUIDELINES FOR PREPARING 2015 FORM W-2
SUPPLEMENTAL GUIDELINES FOR PREPARING 2015 FORM W-2 PART A: NON-CASH COMPENSATION INCLUDABLE IN WAGES (BO 1) AUTOMOBILE COMPENSATION An employee's personal use of an employer provided vehicle is taxable
More informationBollenback & Forret, P.A.
Bollenback & Forret, P.A. Michael D. Bollenback, CPA Richard G. Buschart, CPA, ABV, CVA Suzanne E. Patrick, CPA Janet K. Rosenquist, CPA Roderick B. Smart, CPA J. Patrick Callan, CPA Peter B. Forret, CPA
More informationDear Clients and Business Friends:
Dear Clients and Business Friends: All employers who furnish vehicles to employees for the employee s personal use are required to add the personal use value of the vehicle to the employee s W-2. As an
More informationSUPPLEMENTAL GUIDELINES FOR PREPARING 2018 FORM W-2
SUPPLEMENTAL GUIDELINES FOR PREPARING 2018 FORM W-2 Suspension of exclusion for qualified moving expense reimbursements: Effective for tax years 2018 through 2025, the exclusion for qualified moving expense
More information2016 Automobile Rules. Computation of Personal Use
2016 Automobile Rules Computation of Personal Use 2016 Automobile Rules: Computation of Personal Use... 2 Exhibit 1A... 8 Exhibit 1B... 9 Exhibit 1C... 10 Exhibit 1D... 11 LEGAL NOTICE: The contents of
More informationVehicle Non-Cash Fringe Benefits Reporting Requirements
PERCY S. YANG, CPA, ABV KATHLEEN M. ALAMEDA, CPA DEBRA K. DOBLE, CPA JENNIFER D. CASTELLUCCIO, CPA YUAN CAI, CPA ALAN HA, CPA VENUS JANDU, CPA JAN L. JONES, CPA MICHAEL R. RAMIL, CPA JOHN ROSENTHAL, CPA
More informationDear Clients and Business Friends:
Dear Clients and Business Friends: All employers who furnish vehicles to employees for the employee s personal use are required to add the personal use value of the vehicle to the employee s W-2. As an
More informationPart 1 To be completed by the Agency Vehicle Coordinator
A separate report must be maintained for each employee and/or each vehicle assigned during the reporting period of 11/1/17 to 10/31/18. Department ID: Department Name: Employee Name: NYS Emplid: Part 1
More informationWORKSHEET #2 - Employee Statement to Employer Employee using vehicle completes ALL OF Worksheet #2 and gives to employer.
October 2015 Dear Employer: As you know, the Internal Revenue Service (IRS) treats an employee s personal use of a company vehicle as an employee benefit, to be either reimbursed to the company by the
More informationFringe Benefits That May Affect Your Payroll Reporting and Tax Withholding
Anchin Alert Anchin, Block & Anchin LLP Accountants and Advisors November 2018 Fringe Benefits That May Affect Your Payroll Reporting and Tax Withholding To Our Business Clients: Attached for your convenience
More informationRE: W-2 REPORTING REQUIREMENTS FOR FRINGE BENEFITS TO BE ADDED TO EMPLOYEES' W-2 AS COMPENSATION
To Our Clients: November 2018 RE: - 2018 W-2 REPORTING REQUIREMENTS FOR FRINGE BENEFITS TO BE ADDED TO EMPLOYEES' W-2 AS COMPENSATION - SPECIAL RULES FOR S-CORPORATION SHAREHOLDERS In this letter, we will
More informationDecember In addition, we have enclosed some additional materials for your guidance including:
Dear Client December 2011 It is time again to prepare for year-end payroll processing specifically the preparation of Forms W-2 and 1099. To assist you in the preparation of these forms, we offer the following
More informationRE: W-2 REPORTING REQUIREMENTS FOR FRINGE BENEFITS TO BE ADDED TO EMPLOYEES' W-2 AS COMPENSATION
December 2017 To Our Clients: RE: - 2017 W-2 REPORTING REQUIREMENTS FOR FRINGE BENEFITS TO BE ADDED TO EMPLOYEES' W-2 AS COMPENSATION - SPECIAL RULES FOR S-CORPORATION SHAREHOLDERS In this letter, we will
More informationAnd You Get Your Own Car Cars Provided to Employees Podcast of September 1, 2006
And You Get Your Own Car Cars Provided to Employees Podcast of September 1, 2006 Feed address for Podcast subscription: http://feeds.feedburner.com/edzollarstaxupdate Home page for Podcast: http://ezollars.libsyn.com
More informationRE: REPORTING COMPANY CAR USE BY CONTROL EMPLOYEES. Dear Sir or Madam:
RE: REPORTING COMPANY CAR USE BY CONTROL EMPLOYEES Dear Sir or Madam: This memorandum reviews the valuation and taxable income reporting rules for a control employee such as a director, one percent or
More information2014 Adjustments to Taxable Wages
2014 Adjustments to Taxable Wages Group Term Life Insurance in Excess of $50,000 for Current Employees IRS regulations require the inclusion in taxable wages of the value of district paid group term life
More informationALL BUSINESS CLIENTS. DATE: October 27, 2016 KATZ, NANNIS + SOLOMON, P.C. YEAR END PAYROLL AND RELATED ISSUES
TO: ALL BUSINESS CLIENTS DATE: October 27, 2016 FROM: RE: KATZ, NANNIS + SOLOMON, P.C. YEAR END PAYROLL AND RELATED ISSUES As the end of the year approaches, we would like to remind you of certain record
More information10% $0 9,525 10% $0 9,700 12% 9,526 38,700 12% 9,701 39,475 22% 38,701 82,500 22% 39,476 84,200 24% 82, ,500 24% 84, ,725
INDIVIDUAL TAX RATES Status Rate* Bracket Rate* Bracket 10% $0 9,525 10% $0 9,700 12% 9,526 38,700 12% 9,701 39,475 22% 38,701 82,500 22% 39,476 84,200 Single 24% 82,501 157,500 24% 84,201 160,725 32%
More information10% $0 9,325 10% $0 9,525 15% 9,326 37,950 12% 9,526 38,700 25% 37,951 91,900 22% 38,701 82,500 28% 91, ,650 24% 82, ,500
INDIVIDUAL TAX RATES Status Rate* Bracket Rate* Bracket 10% $0 9,325 10% $0 9,525 15% 9,326 37,950 12% 9,526 38,700 25% 37,951 91,900 22% 38,701 82,500 Single 28% 91,901 191,650 24% 82,501 157,500 33%
More informationACCOUNTING FOR EMPLOYEE FRINGE BENEFITS. All campuses served by Louisiana State University (LSU) Office of Accounting Services
Louisiana State University Finance and Administration Operating Procedure FASOP: AS-12 ACCOUNTING FOR EMPLOYEE FRINGE BENEFITS Scope: Effective: Purpose: All campuses served by Louisiana State University
More information2016 SELF-EMPLOYMENT INCOME ORGANIZER
2016 SELF-EMPLOYMENT INCOME ORGANIZER Please complete the following questionnaire in its entirety and return it to us to make sure we have the most accurate information on file, in order that we can prepare
More informationMEMORANDUM NO January 11, 2007 TO THE HEADS OF ALL STATE AGENCIES
MEMORANDUM NO. 2007-02 January 11, 2007 TO THE HEADS OF ALL STATE AGENCIES Attention: Subject: Chief Administrative and Fiscal Officers, Business Managers, and Payroll and Personnel Officers Changes to
More informationFringe Benefits. David Hasek Director of Client Services
Fringe Benefits David Hasek Director of Client Services Fringe Benefits The Basics Who? customerservice@dominionpayroll.com What? Fringe Benefits, Bonuses & Distributions When? As Soon As Possible, but
More informationtonneson + co Certified Public Accountants & Consultants December, 2014 Dear Valued Client:
Dear Valued Client: We are pleased to provide you with this year-end letter outlining important guidelines for compliance with federal and state rules of taxation and reporting requirements. It contains
More informationJOYNER, KIRKHAM, KEEL & ROBERTSON, P.C INDIVIDUAL TAX ORGANIZER
Please provide a copy of your 2013 federal and state tax returns, and complete pages 1 through 3. Other pages: complete only those sections that apply to you. Your Name SS# Occupation Birth Date Spouse
More informationPreparing for an Internal Revenue Service Review for a Housing Authority
Preparing for an Internal Revenue Service Review for a Housing Authority Prepared by Urlaub & Co., PLLC, Certified Public Accountants (580) 332-4802 Presented by Ronald Urlaub, CPA 1 Objectives To understand
More informationDavid R. Lewis, CPA Estep*Doctor & Company, CPA 3737 West Bethel Avenue Muncie, IN (Telephone) (Fax)
David R. Lewis, CPA Estep*Doctor & Company, CPA 3737 West Bethel Avenue Muncie, IN 47304 765-289-5366 (Telephone) 765-289-3332 (Fax) www.edcpa.com davidl@edcpa.com Estep * Doctor & Company, P.C. website
More informationFEDERAL STATE AND LOCAL GOVERNMENTS TAX EXEMPT/ GOVERNMENT ENTITIES: FSLG Mission: FRINGE BENEFITS
FEDERAL STATE AND LOCAL GOVERNMENTS FRINGE BENEFITS TAX EXEMPT/ GOVERNMENT ENTITIES: Federal, State and Local Governments Indian Tribal Governments Tax Exempt Bonds FSLG Mission: To provide government
More informationCITY OF VANCOUVER CORPORATE PROCEDURE
CITY OF VANCOUVER CORPORATE PROCEDURE Auto Allowance General Procedure REFERENCE AF-001-01 Auto Allowance General PROCEDURE STATEMENTS 1 Eligibility Criteria 1.1 Auto Allowance: All City employees who
More informationThe County of Chester Office of the Controller Internal Audit Department
The County of Chester Office of the Controller Internal Audit Department Audit Report County Vehicles As of June 30, 2008 Valentino F. DiGiorgio, III, Controller Introduction At the request of the Controller,
More informationtonneson + co Certified Public Accountants & Consultants December, 2017 Dear Valued Client:
Dear Valued Client: We are pleased to provide you with this year-end letter outlining important guidelines for the compliance with federal and state rules of taxation and reporting requirements. The letter
More informationSTATE OF RHODE ISLAND DEPARTMENT OF ADMINISTRATION OFFICE OF ACCOUNTS AND CONTROL POLICY/PROCEDURE NUMBER A-51
October 1, 2001 / Page 1 of 9 STATE LAW Section 42-11.3 of the General Laws establishes several requirements concerning the use and accountability of stateowned (employer-provided) vehicles. It is the
More informationJOYNER, KIRKHAM, KEEL & ROBERTSON, P.C INDIVIDUAL TAX ORGANIZER
Please provide a copy of your 2017 federal and state tax returns, and complete pages 1 through 3. Other pages: complete only those sections that apply to you. Taxpayer Name SS# Occupation Birth Date Spouse
More information7 Qualified Transportation Fringe (QTF) Benefits
7 Qualified Transportation Fringe (QTF) Benefits This section discusses rules that apply to benefits provided to an employee for the employee's personal transportation related to commuting to and from
More informationMEMO #3. Tax and Reporting Procedures for Congregations. Pensions and Benefits USA. Caution! Determine employee classifications accurately.
MEMO #3 Tax and Reporting Procedures for Congregations Pensions and Benefits USA The tax and reporting requirements with which churches must comply often seem to complicate the task of the local church
More informationHORRY COUNTY TRAVEL POLICY AND PROCEDURES MANUAL
HORRY COUNTY TRAVEL POLICY AND PROCEDURES MANUAL Effective October 1, 2008 Updated for revised per diem rates effective July 1, 2012 as per Budget Ordinance 25-12 Updated for exclusion of day trip meal
More information2018 Schedule M1UE, Unreimbursed Employee Business Expenses
2018 Schedule M1UE, Unreimbursed Employee Business Expenses *181641* Before you complete this schedule, read the instructions to see if you are eligible. Your First Name and Initial Last Name Your Social
More informationDetailing Transportation Fringe Benefits Presented live on Wednesday, March 28, 2018
Detailing Transportation Fringe Benefits Presented live on Wednesday, March 28, 2018 1 2018 The Payroll Advisor 2016 The Payroll Advisor 2 Housekeeping Credit Questions Today s topic Speaker 2016 The Payroll
More informationBusiness Vehicle Services. FAVR Guidelines
Business Vehicle Services FAVR Guidelines GUIDELINES FOR ESTABLISHING A NONTAXABLE (FAVR) PROGRAM UNDER THE RUNZHEIMER PLAN OF AUTOMOBILE STANDARD COSTS HOW THE PLAN WORKS The Internal Revenue Service
More informationSetting up pays in-house payroll
Quick lesson For more information, see Help > Contents > Payroll > Processing payroll in-house. Setting up pays in-house payroll Goal: Learn how to set up and use different types of pay, which are called
More informationLTR Section 132 Fringe Benefits. Summary
LTR 9801002 Section 132 Fringe Benefits Summary Employees Use of Demo Cars Taxable The Service has ruled in technical advice that the use of demonstration vehicles by the employees of a car dealership
More informationDon t fill in cents. Round off cents to the nearest dollar. For example, $99.49 becomes $99.00, and $99.50 becomes $
Page 1 of 3, 150-206-643 (Rev. 08-18) Oregon Department of Revenue 04131801010000 Instructions: Read Oregon Income Tax Withholding Information prior to completing this worksheet. Complete Part A to determine
More informationP&B. Memo #3. The tax and reporting requirements with which churches must comply. Tax and Reporting Procedures for Congregations
P&B Memo #3 Pensions and Benefits USA, Church of the Nazarene Tax and Reporting Procedures for Congregations The tax and reporting requirements with which churches must comply often seem to complicate
More informationProvo City School District Policy Series 6000 Finances and Operations 6410 P1
Provo City School District Policy Series 6000 Finances and Operations 6410 P1 Employee Travel Procedures General Guidelines A. The district reimburses travelers the GSA per diem rates associated with travel
More informationTaxable Fringe Benefit Guide
Note: This document contains information on qualified commuter tax benefits only. The entire document, "Tax Fringe Benefit Guide" is available at http://www.irs.gov/pub/irs-tege/fringe_benefit_fslg.pdf.
More informationEMPLOYMENT TAX OVERVIEW
IRS Employment Tax Overview Patsy Kerns, Federal State and Local Government PASBO 62 ND ANNUAL CONFERENCE AND EXHIBITS, PITTSBURGH March 2017 1 EMPLOYMENT TAX OVERVIEW FRINGE BENEFITS ACCOUNTABLE PLANS
More informationAbout the Author Bob Trinz
About the Author Bob Trinz is a senior tax analyst for the Tax & Accounting business of Thomson Reuters. He has more than twenty-seven years of experience as an editor and contributor to tax publications
More informationDaytime Travel and Meals
Daytime Travel and Meals Holly Burlingame, CSBA WASBO Instructor and Curriculum Developer 1 Daytime Travel Mileage Commuting Meals Receipts Per Diem Overnight Travel (if time allows) IRS Regulations, Federal
More informationIRS One Day Seminar. September 6 th Travel
IRS One Day Seminar September 6 th 2012 Travel Important Note: The information published by the IRS is the authoritative guidance that should be followed. If your situation is unique, or if clear guidance
More informationYear End Tax Reporting
Year End Tax Reporting TO: FROM: All Clients Nathan Wechsler & Company Professional Association DATE: December 1, 2017 Another year is coming to an end. We want to take this opportunity to remind you of
More informationPAYROLL & RELATED TAX ISSUES. Bruce A. Beyler, CPA
PAYROLL & RELATED TAX ISSUES Bruce A. Beyler, CPA Index of Topics u u u Worker Classification Compensation Fringe Benefits u Some New Items for 2016 u u u u Wage & Tax Statement (Form W-2) and Box 12 Codes
More informationWhat s In My Paycheck? compensation package: all of the wages (salary, bonus, commission) and benefits provided by an employer. What s In My Paycheck?
compensation package: all of the wages (salary, bonus, commission) and benefits provided by an employer wages: money paid or received for work or services completed, usually by the hour, day, or week hourly
More informationPayroll and 1099 Reporting Guide 2018 Resource Manual
Payroll and 1099 Reporting Guide 2018 Resource Manual This guide will assist you with your year-end tax filings for payroll and Forms 1099. Included are critical due dates to help you meet your filing
More informationINDIVIDUAL TAX ORGANIZER LETTER (FORM 1040)
INDIVIDUAL TAX LETTER If we did not prepare your prior year returns, provide a copy of federal and state returns for the three previous years. Complete pages 1 through 4 and all applicable sections. Taxpayer
More informationQuick Reference Charts
Quick Reference Charts Revised 03-01-18 QRC - 1 Table of Contents Federal Tax Information... 3 Federal AGI Phase-Out Ranges... 6 Retirement Plans, IRAs & Employee Benefits... 7 QRC - 2 Beginning of 15*/12%
More informationBEYOND INCOME TAX RETURNS
BEYOND INCOME TAX RETURNS Your annual reminder about OTHER filings for the IRS, Oregon and Washington. EXECUTIVE SUMMARY As we, at Perkins & Co, spend the last days of 2017 preparing for the upcoming filing
More informationAccountable Plans as per the IRS Code Section 62(c) and IRS Regulation
Accountable Plans as per the IRS Code Section 62(c) and IRS Regulation 1.62-2. To save yourself and your employees some payroll tax expenses, the Internal Revenue Code and the IRS regulations allow expenses
More informationThe Highlights of Tax Reform for Businesses
10 09 18 The Highlights of Tax Reform for Businesses FS-2018-17, October 2018 The Tax Cuts and Jobs Act included a few dozen tax law changes that affect businesses. Most of the changes in the new law take
More informationDINWIDDIE COUNTY DIVISION OF FINANCE & GENERAL SERVICES POLICIES AND PROCEDURES TAXABLE FRINGE BENEFITS. Adopted March 1, 2015, Revised March 18, 2015
Adopted March 1, 2015, Revised March 18, 2015 DINWIDDIE COUNTY DIVISION OF FINANCE & GENERAL SERVICES POLICIES AND PROCEDURES TAXABLE FRINGE BENEFITS POLICY Dinwiddie County strives to adhere to all federal
More informationPERSONNEL POLICIES AND PROCEDURES Personnel Policy Adopted by Res.:
EMPLOYEE RECOGNITION AND DEVELOPMENT PERSONNEL POLICIES AND PROCEDURES Personnel Policy Adopted by Res.: 1218-2008 Personnel Procedures Approved: 10/4/2013 1. PURPOSE: The purpose of this policy is to
More informationPARTNERSHIP TAX ORGANIZER
PARTNERSHIP TAX ORGANIZER We appreciate your business and look forward to working with you again this year. We hope you had a wonderful year blessed with health. Please provide the following information
More informationHere are the numbers for :
Page 1 of 7 Here are the numbers for 2017-2018: 1) FICA & Self Employment taxes are comprised of two components: a) Social Security (OASDI) Maximum Earnings Subject $ 127,200 $ 128,400 Tax Rate (Employee)
More informationHere are the numbers for :
Page 1 of 7 Here are the numbers for 2018-2019: 1) FICA & Self Employment taxes are comprised of two components: a) Social Security (OASDI) Maximum Earnings Subject $ 128,400 $ 132,900 Tax Rate (Employee)
More information2013 Year End Customer Guide
November 2013 Wells Fargo Business Payroll Services 2013 Year End Customer Guide 2013 Wells Fargo Bank N.A. All rights reserved. Member FDIC. Welcome to the 2013 year-end customer guide The 2013 year-end
More informationHere are the numbers for :
Page 1 of 8 Here are the numbers for 2016-2017: 1) FICA & Self Employment taxes are comprised of two components: a) Social Security (OASDI) Maximum Earnings Subject $ 118,500 $ 127,200 Tax Rate (Employee)
More informationFRINGE BENEFITS. Federal, State and Local Governments (FSLG) FRINGE BENEFITS GENERAL RULES. FSLG Specialist Clark Fletcher
FRINGE BENEFITS Sponsored by Commonwealth of Northern Marianas Islands, Division of Revenue & Taxation March 2, 2010 1 Federal, State and Local Governments (FSLG) FSLG Specialist Clark Fletcher Tel: 425.489.4042
More informationIRS Regulations on Personal Use of City-Owned Vehicles: Employer's Guide to Fringe Benefits
University of Tennessee, Knoxville Trace: Tennessee Research and Creative Exchange MTAS Publications: Technical Bulletins Municipal Technical Advisory Service (MTAS) 1-9-2007 IRS Regulations on Personal
More informationUnified Grocers Auto Reimbursement Program. Revised 02/01/2012
Unified Grocers Auto Reimbursement Program 1.0 SCOPE Scope. Unified Grocers auto reimbursement program is available to all regular, full-time employees who drive an automobile on company business in the
More informationTravel Expense Reimbursement
95.20.1 OVERVIEW ALLOWABLE EXPENSES Lodging Meals Employees, students, and other clients of the University are eligible to receive reimbursement for allowable expenses while in travel status conducting
More informationBelow are the following 2017 Tax Return filing due dates for calendar year filers (December 31 st year end):
Important 2017 Year End Tax Information Dear Clients and Friends: We know you are very busy, but please take a few moments to read this email to determine which portions apply to you or your business.
More informationBus. Admin: Ministers Tax Issues Course #E913
Bus. Admin: Ministers Tax Issues Course #E913 Presented by: Stephanie Buduhan, CPA PSK LLP 2018 Shelby Systems, Inc. Other brand and product names are trademarks or registered trademarks of the respective
More informationUnderstanding Your W-2
Understanding Your W-2 The following information is intended to answer the most frequently asked questions regarding the content and distribution of your W-2, which is needed to file income tax returns.
More informationENTERING AUTOMOBILE FRINGE IN A SEPARATE PAYROLL: EMPLOYEE PAYING TAXES
ENTERING AUTOMOBILE FRINGE IN A SEPARATE PAYROLL: EMPLOYEE PAYING TAXES When calculating automobile fringe, you have the option to do so in a payroll cycle separate from your normal payroll. If you choose
More informationTAX SOLUTIONS PARTNERSHIP TAX ORGANIZER FORM 1065
TAX SOLUTIONS PARTNERSHIP TAX ORGANIZER FORM 1065 Enclosed is an organizer that we provide to our tax clients to assist in gathering the information necessary to prepare the current year tax returns. The
More informationInformation Paper: Taxability of Domicile to Duty Benefits for CY 2015
Information Paper: Taxability of Domicile to Duty Benefits for CY 2015 November 6, 2015 Purpose: This paper provides information on the income tax implications of employer provided home-to-work (i.e.,
More information(See also Publication 15-B irs.gov)
Fringe Benefits Fringe and Special Benefits Reporting (See also Publication 15-B irs.gov) Any fringe benefit provided is taxable and must be included in the recipients pay unless the law specifically excludes
More information2. Policy. The general policies established in furtherance of the foregoing purpose are as follows:
35-1 Travel by University Employees and Students 35-1-1 Purpose 35-1-2 Policy 35-1-3 Definitions 35-1-4 Administration 35-1-5 Eligibility for Travel Reimbursement 35-1-6 Prior Approval 35-1-7 Transportation
More informationSmall Business Tax Organizer
EIN Name Date Started Street Address City State Zip Code Please utilize this Tax Organizer to help you gather and organize information relating to preparation of your business income tax returns. Where
More informationKENNETH M. WEINSTEIN,
Dear Client: KENNETH M. WEINSTEIN, CPA AND CFP 1450 Niagara Falls Boulevard, Suite #202 Tonawanda, NY 14150-8440 (716) 837-2525 ~ FAX (716) 837-2527 E-Mail: kweinsteincpa@gmail.com The enclosed 2015 Tax
More informationSPECIAL REPORT INCOME RECOGNITION. STATE TAX IMPACT. Generally, states use federal gross income,
Tax Briefing Sharing (Gig) Economy September 7, 2017 Highlights Tax Consequences of s Received through Sharing Economy Employment Status of Sharing Economy Workers State Nexus and Apportionment Issues
More informationWUPRPM. Regulations and Procedures. Effective Date: January 25, 2008 Q. Moving Expenses Revision Date: January 12, 2017.
Table of Contents 1. Purpose...3 2. Definitions...3 3. General...3 4. Guidance for Reporting as Non-Taxable...4 5. Reimbursement of Moving Expenses...7 6. Requesting Reimbursement...9 Q-1 This Page Intended
More informationAchieving the Goal of Compliance with the Government Tax Laws
Achieving the Goal of Compliance with the Government Tax Laws How to Achieve the Goal Athlete Program: Schedule Practice Diet / Sleep Finance Officer Identify and Prioritize Issues Plan: Win Local Establish
More informationCity of Douglas. Administrative Policies. Fringe Benefit Taxation Policies
Administrative Policies Fringe Benefit Taxation Policies Effective September 1, 2008 TABLE OF CONTENTS Fringe Benefit Taxation City-Provided Cell Phones (2.10) 1 Reimbursement for Personal Use Form 3
More informationAUTOMOBILE EXPENSES & RECORDKEEPING
AUTOMOBILE EXPENSES & RECORDKEEPING The BDO Automobile Log Many people use their cars for work or business and personally incur expenses in doing so. If this is your situation, you ll want to be able to
More informationPAYROLL SERVICES. Travel Regulations and Procedures. User Guide for Cobb County Employees 9/22/2017. Created for: The Cobb County School District
Travel Regulations and Procedures User Guide for Cobb County Employees Created for: The Cobb County School District 9/22/2017 514 Glover Street Marietta, Ga. 30060 (770) 426-3300 Created by: CCSD Financial
More informationMoving and Relocation Expenses
Moving and Relocation Expenses Revised: 01/16 FSS/PPS No. 03.05.04 Issue No. 5 Reviewer: Director of Accounting Effective Date: 12/03/07 (E2Y) Review Date: 12/17 01. POLICY STATEMENTS 01.01 This PPS describes
More informationThis revenue procedure updates Rev. Proc , I.R.B. 930, and
Part III Administrative, Procedural, and Miscellaneous 26 CFR 601.105: Examination of returns and claims for refund, credit, or abatement; determination of correct tax liability. (Also Part I, 62, 162,
More informationPayroll Reference Manual
Payroll Reference Manual 2018-2019 2018-2019 Payroll Reference Manual Table of Contents Section I - Year End Preparation Year End Checklist 6 Year End Balancing/Reconciliations 8 Annual Reconciliation
More informationTOWN OF NORFOLK Automobile Use Policy 1/15
TOWN OF NORFOLK Automobile Use Policy 1/15 I. PURPOSE AND SCOPE The purpose of this policy is to set forth the guidelines for reimbursement or compensation for employee use of personal vehicles; the guidelines
More informationWe look forward to providing services to you. Should you have questions regarding any items, please do not hesitate to contact.
Organizer Corporation This organizer is designed to assist you in gathering the information necessary to prepare the current year s tax returns. Please complete it in full and provide details and documentation
More informationThe School Board of Collier County Administrative Procedures
The School Board of Collier County Administrative Procedures 6550 - TRAVEL AND PER DIEM OVERVIEW The administrative procedure establishes guidelines for the reimbursement of in county and out of county
More informationTRAVEL POLICY: The submission of all receipts: the signature receipt and the purchase detail receipt are essential.
January 20, 2016 TRAVEL POLICY: This policy provides guidance for college business related travel expenditures. The policy supports our belief that all business related travel expenses for the College
More information