Popular Forms
The forms below are a few of those most often requested by our clients. Feel free to open the forms from here and use them as you need them. As with all tax related forms, there are perils and pitfalls to these forms. Please be sure to call us at 828-299-4545 with any questions you have about the completion of these forms.
Forms for New Employees
Employer Reporting Forms
Estimated Tax Payment Forms
Forms for Independent Contractors
Facts & Figures
Taxable Wage Bases & Rates (2012)
Tax Type | Wage Base | Rate | Comments |
Social Security | $110,100 | 4.2% (Through 2/29/12 unless extended by Congress) | Employer match is 6.2% of taxable wages |
Medicare | No limit | 1.45% | Employer match is 1.45% of taxable wages |
NC State Unemployment | $20,400 | Varies by employer | |
Federal Unemployment (Most Small Employers) | $7,000 | 0.6% | 0.8% prior to July 1, 2011 |
Please note that NC employers are subject to a Federal Unemployment Tax surcharge based on NC's indebtedness to federal unemployment funds.
Health Savings Accounts (HSA's)
Maximum contributions 2012 - Family $6,250, Individual $3,100
Maximum contributions 2011 - Family $6,150, Individual $3,050
Special rules apply to individuals age 55 or over. Only certain individuals covered under a high deductible health plan (HDHP) are eligible to contribute to an HSA. Please contact us for additional information.
Federal Standard Mileage Rate
Purpose | 01/01/11 - 06/30/11 | 07/01/11 - 12/31/11 | 01/01/12 - |
Business | $0.51 per mile | $0.555 per mile | $0.555 per mile |
Medical / Moving | $0.19 per mile | $0.235 per mile | $0.23 per mile |
Charitable | $0.14 per mile | $0.14 per mile | $0.14 per mile |
Calculating business mileage can be tricky. Please let us assist you in determining which miles are business miles in your particular situation.
Retirement & 401(k) Plans (2012)
Maximum 401(k) Salary Deferral $17,500
Maximum SIMPLE Deferral $11,500
Individual Retirement Account (IRA) Maximum Contribution $ 5,000
Retirement & 401(k) Plans (2011)
Maximum 401(k) Salary Deferral $ 16,500
Maximum SIMPLE Deferral $ 11,500
Individual Retirement Account (IRA) Maximum Contribution $ 5,000
Special rules apply to individuals age 50 or over. The details involved in retirement planning and retirement plan administration are complicated. Please call us about the tax implications of the different retirement plan funding designs and decisions.
We do not provide investment advice. There are many capable advisors in our area to whom we will gladly refer you for investment advice. We are also happy to work with whomever you have already established investment advisory services.
Minimum Wage (Effective 07/24/2009) $7.25
