San Francisco Tax Preparation Company, Gelardi Tax Services Announces Payroll Tax Cut Extension and Explains the Effects

Gelardi Tax Services

Daly City, CA (PRWEB) January 17, 2012

The Temporary Payroll Tax Cut Continuation Act of 2011 temporarily extends the two percentage point payroll tax cut for employees, continuing the reduction of their Social Security tax withholding rate from 6.2 percent to 4.2 percent of wages paid through Feb. 29, 2012. San Francisco tax preparation company, Gelardi Tax Service, offering tax help throughout San Francisco, explains how this extension should be handled and what the public can expect.

Employers should implement the new payroll tax rate as soon as possible, but not later than Jan. 31. For any Social Security tax over-withheld during January, employers should also make an offsetting adjustment in workers’ pay as soon as possible, but not later than March 31.

Employers and payroll companies will handle the withholding changes, so workers should not need to take any additional action.

“It is especially important for employees to know about this extension because it can help you recognize the difference in paychecks from the month of February to the beginning of March,” Lisa Gelardi of Gelardi Tax Services said. “Employees may notice a $ 20 to $ 40 difference between paychecks.”

Under the terms negotiated by Congress, the law also includes a new “recapture” provision, which applies only to those employees who receive more than $ 18,350 in wages during the two-month period (the Social Security wage base for 2012 is $ 110,100, and $ 18,350 represents two months of the full-year amount). This provision imposes an additional income tax on these higher income employees in an amount equal to 2 percent of the amount of wages they receive, during the two-month period, in excess of $ 18,350 (and not greater than $ 110,100).

This additional recapture tax is an add-on to income tax liability that the employee would otherwise pay for 2012 and is not subject to reduction by credits or deductions. The recapture tax would be payable in 2013 when the employee files his or her income tax return for the 2012 tax year.

For more information about the temporary tax extension or Gelardi Tax Services, call 415-233-7764, view the company on the web at http://www.gelarditaxservice.com or visit 332 Glenwood Ave. in Daly City.

About Gelardi Tax Services

With more than ten years of providing tax services for a variety of industries in the San Francisco area, Lisa Gelardi has the knowledge and experience to make tax preparation less intimidating. From Schedule As to Schedule Es, 1040s to 1065s and back taxes to current taxes, Gelardi handles personal taxes with accuracy and ease.

As a small-business owner, Gelardi is more cost effective and a lot easier to get in touch with than other companies. Offering tax help year round, she’ll even travel to clients in the Bay Area, so that they save time. She communicates clearly with her clients and displays a keen ability to find solutions for a variety of tax situations and industries.

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Maggie loves to get new customers to get their taxes done at Liberty. In fact, she dresses up as the Statue Of Liberty and waves, dances, and yells to get peoples attention while they are driving by. 2008 NPPA Award. Photojournalist: Mike Vandersnick
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The IRS Publicizes Their Volunteer Opportunities for 2012; Ideal Tax Solution Lends a Hand in the Same Efforts

Ideal Tax Solution

Costa Mesa, CA (PRWEB) January 16, 2012

This year, the IRS is hopeful the Volunteer Income Tax Assistance, or VITA, and the Tax Counseling for the Elderly, or TCE, will be as thriving as ever. These programs are community based, typically taking place in neighborhood/community environments such as community centers, libraries, schools and other convenient locations. They assist low-to-moderate income taxpayers, those with disabilities, elderly or non-English speaking taxpayers file their tax returns. Last year there were around 88,000 volunteers in this movement who helped prepare over 3 million tax returns.

There are 5 things to know about becoming a volunteer. First, no experience is required. Other certified VITA/TCE volunteers with train any new volunteers. All volunteers are provided with free tax law training, e-file training and are enlightened any other information they need on basic individual income tax returns. Throughout the tax time, Mid-January to the tax deadline, April 17, 2012, volunteers are encouraged to participate 3-4 hours a week. Most of the volunteer sites provide free tax return filings for even their volunteers. So while doing something for the community, there is knowledge being gained and one can even get something in return by getting to file their tax returns. For more information visit irs.gov.

The information provided when becoming a volunteer is reason enough to do it. Many Americans have found themselves in tax debt that seems unbearable, and the majority of this is due to lack of knowledge when it comes to the tax world. There is help available for Americans in this situation. Tax resolution companies are guiding those who have tax debts from filing in years passed, liens, wage garnishments, etc. Seeking help with these troubles now and gaining free knowledge on it all at the same time is looking toward a bright tax paying future.

About the company: Ideal Tax Solution, LLC is located in Costa Mesa, CA and provides tax negotiation services, preparation and is a collection defense specialist. Their Tax Attorneys, IRS Enrolled Agents, CPAs, Senior Tax Consultants have over 55 years of combined experience working to help American tax payers with the IRS and State Tax Agencies. Ideal Tax boasts an “A” rating with the Better Business Bureau earned through providing excellent services.

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Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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Gonna get my income tax forms so I don’t have to kill myself. – by Carol_Skyes (Azrael)

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Question by : Is the IRS “Where’s my refund?” accurate?
I checked my refund status on “Where’s my refund?” on the irs.gov website and it says i will get it by March 23rd. but i sent it in about 2 and a half weeks ago is there any chance i will get it sooner?

Best answer:

Answer by mr fugi
Yes you will probably recieve it sooner then march 23rd, they just put that as the estimate. But as you know, the estimate is always way later than the real date, they do that so that you won’t call them all the time and stuff, and just wait til the 23rd.

What do you think? Answer below!

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Compucessory Products – 12-Digit LCD Calc, w/ PC Interface, 5-1/2″x7-1/2″x1-1/2″, White – Sold as 1 EA – 12-digit calculator has a large liquid crystal display (LCD), PC interface and 10-key keyboard for notebook PC. Functions include tax rate calculation function, cost-sell-margin calculation and backspace key. Send calculation result to a PC. Calculator includes a USB cable. Runs on solar power.

• Sold as 1 EA
• Manufacturer: Compucessory
• Total percentage of recycled content: 0
• Post Consumer Waste: 0
• Country of origin: CN

Compucessory Products – 12-Digit LCD Calc, w/ PC Interface, 5-1/2″x7-1/2″x1-1/2″, White – Sold as 1 EA

12-digit calculator has a large liquid crystal display (LCD), PC interface and 10-key keyboard for notebook PC. Functions include tax rate calculation function, cost-sell-margin calculation and backspace key. Send calculation result to a PC. Calculator includes a USB cable. Runs on solar power.
Sold as 1 EAManufacturer: CompucessoryTotal percentage of recycled content: 0Post Consumer

List Price: $ 29.99

Price:

2012 Paycheck Software From PayrollMate.com Updates Federal and State Paycheck Calculators

Payroll Mate Payroll Software

Chicago, IL (PRWEB) January 10, 2012

A nationwide provider of payroll and 1099 software, Real Business Solutions (http://www.payrollmate.com) invites US small and mid-size companies to explore the powerful features of the 2012 Payroll Mate software. By using Payroll Mate, in-house paycheck software, business owners can pay employees, manage payroll taxes, create an unlimited number of payroll checks and improve filing accuracy, all for one low price.

Payroll Mate is simply one of the easiest to use computerized payroll system packages in the US market. The paycheck software steered away from over complicating the payroll management process and keeping the computer knowledge required to use the application to a minimum. The philosophy of Payroll Mate software makers is to keep things simple while providing a powerful and complete solution at an affordable price. Payroll Mate is trusted by thousands of businesses and tax professionals nationwide.

Payroll Mate provides a wealth of features including the ability to automatically calculate net pay, federal withholding tax, social security tax, Medicare, state and local payroll taxes. The paycheck software also supports different types of payroll pay periods, prints checks, prepares payroll forms 941, 940, 944, W-2, W-3, California DE-6 , California DE-7 , Texas C-3 , Texas C-4, New York NYS-45, Illinois 941 and Illinois UI-3/40. The system allows unlimited tax categories, pre and post-tax deductions and unlimited pay rates per employee making it very flexible and powerful.

Below is a summary of the features offered by Payroll Mate:

Exports Payroll Data to QuickBooks software.
Exports Payroll checks to Quicken and accounting software like Microsoft Office accounting.
Automatically calculates federal payroll tax and state payroll tax withholding.
Supports different types of pay periods.
Supports customizable income, tax and deductions categories.
Supports income per mile and per piece.
Supports the following federal payroll forms: 941, 940, 944, W-2, W-3.
Supports California DE 9 , DE 9C, Texas C-3 , Texas C-4, New York NYS-45, IL 941 and IL UI-3/40.
Supports fringe benefits.
Generates comprehensive payroll reports.
Handles payroll deductions.
Exports payroll reports to Excel, CSV and PDF.
Prints on Laser and Inkjet checks.
Prints on preprinted red scannable W2 forms and W3 forms.
Free updates during the tax year.
One step backup and restore.
Runs over a network.
Supports payroll direct deposit.
Ability to print MICR checks on blank check stock.

Download your free payroll software demo today by visiting the payroll software download page:

http://www.realtaxtools.com/Payroll/Payroll-Software-Download.html

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, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Question by K-Dog: I’m filling out the NJ-1040 tax form. My wife was on temporary disability during 2008…….?
on one of her W-2 forms “third party sick pay” was checked off and in box 14 (other) “sick benefit” appeared with an amount. All other boxes from 15 to 20 are left blank. Would this amount be left out of the wages and total income amount on my NJ-1040 form? I’m guessing the amount would be left out but I’m not too sure – any help would be great. I’m also using Turbo Tax but it was confusing when I reached that point. Thanks!

Best answer:

Answer by Jennifer Spears
You can call the IRS at 1-800-829-1040 they might be able to help.
For the future you can try Uncle Tax: http://www.UncleTax.com you will be able to file all you late and current tax returns here and they will answer all questions you have. I use this online service to do my taxes and I can always go back to them for any questions, Good Luck

Give your answer to this question below!

Question by jcom_investor: Anyone know how long an IRS “Manual Refund” takes to process?
I was told my tax refund was being issued by manual refund. Anyone have any experience with how long this takes? Obviously the word manual together with IRS makes me very worried, but curious if anyone knows.

Best answer:

Answer by Steve B
It varies considerably. If the person who told you that your refund was being issued manually is your Taxpayer Advocate Service case advocate, issuing the refund manually to relieve your financial hardship, the check could be in the mail in 4 days. (Financial Management Service, the agency within the Treasury Dept. that issues all federal checks, has 72 hours to mail the check once another agency, in this case the IRS, authorizes the payment, so 3 days of that 4 are out of the IRS’s hands.)

If, on the other hand, the person you spoke with was a bankruptcy specialist and your refund is being issued manually to avoid an automatic offset in violation of the bankruptcy stay, the check might not be mailed for several weeks.

Add your own answer in the comments!