Frequently Asked Questions
5733 S. Dale Mabry Hwy
Tampa, Florida 33611
Ph: 813-835-0158

Fx: 813-835-0848

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EITC Increased

Raised Standard
Deduction

Education Credits
Expanded

More New Credits
Can I get a Rapid Refund?
We understand wanting to get your refund fast. By taking
advantage of our FREE E-filing and having your refund
directly deposited into your bank account, you could
receive your refund in as little as a couple of days . . .

Without paying HIGH Rapid Refund loan fees or interest!
I don't have all my tax statements, but would like to know what
my refund would be. Can you tell me that?
Of course! We offer FREE estimates. If you have your last pay stub and other
amounts to be reported, we will gladly give you an estimate of your refund.
When will I get my W2?
Employers must mail W2 forms no later than January 31st. If you have not received
your W2 by February 1
0th, call your employer or you may call the IRS or visit their
site to find out the steps to be taken if your employer proves unresponsive.
What taxes are taken out of my paycheck?
Employers must withhold social security (also known as FICA), medicare, and
federal income tax
from every employee paycheck. Social security and medicare are
fixed percentages
: 6.2% and 1.45% respectively. The amount of federal income tax
withheld is determined by the information give
n on an employee's W-4.
(Only the first $106,800 of wages is taxable by social security.)
If you have additional questions not featured on this page, please email us.
What payroll taxes must employers pay? And when?
Employers must pay 7.65% of every employee's earnings to the Federal
Government for social security and medicare. These taxes are reported on the 941,
which is filed every quarter. The amounts withheld from employee's checks are also
reported on this form. Payments for these taxes are made by deposits weekly,
bi-weekly, or monthly; or if less than $2,500, paid at the time of filing.

Employers must also pay Federal Unemployment, also know
n as FUTA.
This is reported on the 940, which is filed at the end of year.

Employers are also responsible for paying State Unemployment, SUTA rates among
employers varies. These amounts are reported
every quarter on the UCT-6.
Employers are taxed for only the first $7000 of every employee's earnings in a year.
Why should I file as an S-corp instead of filing a Schedule C?
When you report your 1099-MISC earnings on your schedule C, you are
responsible for paying
not only Federal Income Tax, but will also owe 15.3% of
your income in self-employment tax. Filing as
an S-Corp can help significantly
reduce this tax burden as well as offer a number of additional tax benefits.

Talk to us today for more information.
And take advantage of our Incorporation Specials!
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