is there a program to help you save for paying taxes if your employer does not pay your taxes?

Answer 1

First of all, if your total income for the year does not exceed a certain threshold, you are not required to file as your income is exempt. Otherwise the only way your employer can do this legally, (NOT withhold Federal, Social security and State income taxes ), is for you to be classified as an independent contractor. The guidelines for independent contractor status are fairly strict, so you need to establish that he is acting within the law. If he is trying to pull a fast one, the penalties are pretty tough. A lot of times small businessmen will do this to get out of paying their portion of the social security tax, and avoid carrying workman's compensation insurance on employees. If you truly do qualify for independent contractor status, you are in effect, in business for yourself and will be required to pay estimated taxes on a Quarterly basis. The Federal IRS form for this is available from the IRS, and instructions for filling it out and filing it are also available from the IRS. In addittion to regular income taxes you will be responsible for self employment taxes ( Social Security ) of around 13%.
If you plan on remaining on Independent Contractor Status, I would suggest you get a software program called Quickbooks Pro. Pro is a relatively inexpensive all-in-one program for everything from accounts recievable to check writing and computation of tax liabilities. Most importantly for you, it will help you caculate the amount of taxes to withold for your quarterly tax payments. Also, as an independent contractor you will be able to classify all of your business/work related expenses in categories for automatic computation at year end into totals for legal tax deduction purposes. If you are generating enough income, you will be able to deduct the cost of, a vehicle used in your work. (Or a percentage of the vehicle if it is used for personal use as well) Depending on your line of work, tools, clothing, per diem housing (when out of town), insurance, office space, and a long list of other possible items are deductible. Quickbooks will guide you through tax filing at years end as they have software for tax filing at a reasonable cost that is upgraded every year to reflect changes in the Federal tax code. If your business is succesful enough, you may need the services of a good accountant.

You will NOT be using a W-4 form, as that is the employees declaration of exemptions to be filled out and provided to the employer for withholding.

Answer 2

Who works for an employer that pays his taxes? Must be somebody working with cash only.

Answer 3

You can visit www.irs.gov and use the government's W-4 calculator. That will tell you what your employer should be taking from your check and you can start saving that money on your own. As a bonus, you get to save the interest you make on that money instead of giving it to the government!

Answer 4

Your employer will never pay your taxes. Your employer may withold your earnings to pay your federal taxes, but they will never pay them for you. I suggest you figure out your tax rate, by going to www.irs.gov and then do the math as to how much you need to withold.

Answer 5

Many financial planners will set that up for you
for a minimal cost. Call your local bank as
it is more economical than going to a brokerage
or hiring an accountant.

Answer 6

Try the link below to the IRS Withholding Calculator

Answer 7

rule of thumb 30 percent of you gross will be needed to cover all of your self employment taxes

Answer 8

Just dont pay em. shhhhhhh I was never here I didn't say a word