Recent Articles

Medicare Taxes

The portion withheld from each paycheck at the rate of 1.45% and matched by the employer. This amount is reported to the IRS via Form 941 on a quarterly basis.

Payroll – Introduction to Basic Concepts

08/12/2014

Payroll is envisioned as the simple employer employee agreement related to compensation for services.  I often think of this as the simple handshake whereby the employer agrees to pay the employee a set rate per hour of work.  This was true a [...]

Hair Stylist Compensation Model

04/06/2014

One of the most fascinating business models is the hair salon industry.  Many salons are poorly managed and rarely generate adequate profits.  To make matters worse, the stylists are like professional sports players.  One week they are playing [...]

Form 941 – The Basics

12/26/2012

Form 941 is the employer’s quarterly federal tax return.  It reports how much federal income taxes were withheld; Social Security taxes and Medicare taxes that are due and how much was paid in deposits to the Internal Revenue Service.  The [...]