| 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. |
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Marc has been keeping the books and preparing the taxes for Abbott Media Productions for several years now. He's a great accountant who strives to keep abreast of all new tax laws and changes. I would recommend Marc to any business, large or small, that requires a thorough, detail oriented bookkeeper/accountant.
-- Don Abbott, Abbott Media Productions, LLC |