The IRS and FBI have been warning business owners about W2 scams for years. Most of these scams come in the form of suspicious emails or phone calls. Learn about the most common W2 phishing and W2 fraud scams and how to avoid them in the following article. Don’t let fraudsters get the best of your business.
Phone Scams – How Common are They?
Phone scams are the most common during the tax season. Typically the fraudster will pose as an IRS agent ...
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Archives for September 2020
Understanding FICA, Medicare, and Social Security Tax
Do you ever wonder where exactly the money that is deducted from your gross pay goes? It can seem like a huge chunk when your gross pay and net pay are $100 or more off. So where is this money that is being taken from your paycheck really going? Read on to understand the basics of FICA, Medicare, and Social Security tax.
FICA Tax
FICA is an acronym for Federal Insurance Contributions Act. This act was introduced in 1930 to cover Social Security. ...
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A Guide to the Basics of Freelancer Taxes
Running your own freelancing business, whether it be a side gig or full-time job, brings you a lot of freedom. Being your own boss, setting your own hours, selecting clients, and choosing what projects you want to pursue or pass is exciting. The 2019 Freelancing America survey states that 35% of the American workforce, about 57 million people, pursue freelance work, whether it is temporary, a side gig, or a long-term career path. But running a ...
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