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Accounting & Bookkeeping & Small Business Forum
Accounting, Bookkeeping, Marketing, and Small Business Resource
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Guest
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| Posted: Thu Aug 12, 2004 10:12 am Post subject: Social Security |
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I know employees’ social security gets deducted out of their paycheck and paid on a quarterly basis. My question is, how do business owners pay their Social Security?
Also if a person is not a US citizen, can they use the W-4 form?
Thanks for your help |
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Guest
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| Posted: Thu Aug 12, 2004 7:04 pm Post subject: RE: Social Security |
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To pay a sole proprietors social security withhold it from a w2 job he/she might have or increase a spouses withholding on their job. It can also be paid on a quarterly basis, by filing form 1040ES (estimated tax) any underpaid withholding will be figured on schedule SE and filed with the 1040.
W4 is used to claim exemptions for withholding of an employees federal and in some states, state income tax regardless of their citizenship. I am of course assuming they are legal to work in the U.S. |
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