| 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. |
|
Marc at Copper Canyon tax and Financial Services has done my personal taxes for five years. His great customer service, professionalism, and knowledge in his field inspires confidence that my bookkeeping and taxes will be done correctly. One year ago I launched my business and Marc was the obvious choice. What I love about his first class service is not only does he tell me what needs to be done, but he teaches me why and explains how it can save me and my business money. I'm glad he was my first accountant and know he will be the last. I just can't imagine anyone else doing a better job!
--Francisco J. Valencia, Masquerade Creations & Party Rentals |