| To withhold tax from 1099 contractors you need to set up an account with Electronic Federal Tax Payment System(EFTPS) www.eftps.com. |
Backup withholding from contractor |
Max Retirement Contributions |
For 2011 the maximum employee elective deferrals to 401(k) or 403(b) plans is $16,500. If you are over age 50, the maximum with a catch up contribution is $22,000. |
It is with enthusiasm and confidence that I recommend Marc Barnes and Copper Canyon Tax and Financial Services to any business who needs help dealing with payroll and payroll taxes! -- Thom Dwan, A Fine Line Stationery & Gift Boutique |