2100 S. Ridgewood Ave., Ste. 7, South Daytona, FL  32119

Phone: (386) 760-3083    Email: Reception@RRMoatsCPA.com

Quick Reference


This page is designed to provide helpful information that we feel would be beneficial for our clients:

FEDERAL INCOME TAX WITHHOLDING CALCULATOR – FOR EMPLOYEES
If you are an employee, the Withholding Calculator can help you determine whether you need to give your employer a new Form W-4, Employee's Withholding Allowance Certificate, to avoid having too much or too little Federal Income Tax withheld from your pay. Click the link below titled “Continue to the Withholding Calculator” to start.
Continue to the Withholding Calculator

FEDERAL INCOME TAX WITHHOLDING TABLES AND INFORMATION – FOR EMPLOYERS
If you are an employer and do not have an automated payroll system or a third party that prepares your payroll for you, and you want to know how much federal income tax to withhold on your employee’s paychecks, this publication from the IRS will help you determine that figure. This publication will be automatically updated annually.  Go to the last section “How To Use the Income Tax Withholding Tables”, scroll down to see the formulas on how to calculate the withholding if the paycheck range is not within the charts, and scroll down a little further to see the charts where it tells you how much to withhold.
Circular E - Employer's Tax Guide  

EMPLOYEE vs. INDEPENDENT CONTRACTOR
Not sure if you or your worker is an employee or independent contractor? Check out publication 1779 below from the IRS which gives you an overview of the differences between the two to help you better determine which you or they are.  If you are still unsure, you may file form SS-8 (also below) to the IRS and they will make the determination for you!
Publication 1779
Form SS-8

MEDICAL EXPENSES – WHAT IS DEDUCTIBLE?
IRS publication 502 will help you identify which medical expenses can and cannot be used on your tax return.  Simply click on the expense category you would like to know more about and it will give you a brief overview.
Publication 502

RENTAL PROPERTY EXPENSES
If you own a Rental Property, the IRS gives the following guidance on common rental expenses and when these expenses can be deducted:
Types of Expense
AdvertisingAuto and TravelCleaningMaintenance
Commissions DepreciationInsuranceInterest (Other)
Legal FeesOther Professional FeesLocal TransportationManagement Fees
Mortgage InterestTaxesUtilities