Notes on Meeting with Patricia P. – Accounting Consultant
If you have received money you were not due, do not cash the check. See the board office immediately to request the check be voided, and a new check be issued to the appropriate person, or if it was for you for the correct amount. DO NOT PAY another employee with a personal check. Your taxes will be incorrect at the end of the year!
Summer school teachers are paid on a 1099 form, and do not receive a W-2 for summer school work. This means it is not being paid out of the regular salary accounts, but you are being paid as a “consultant”, which is fine. If a summer school teacher needs a sub, they should pay the sub the full amount, then take it off as a deduction. The sub should then claim it as income on their own taxes. The difference here is that you can file a Schedule C (Self-Employment Income) form on your tax return, and claim the following deductions, which we normally cannot claim with our regular pay (Use your SS number as your employer ID#):
·a percentage of what your internet costs are if you are using it at home to prepare your lessons
·a percentage of the cost of your computer, printing expenses, paper
·books & any other materials used for your class
·tolls you incur to/from work
·mileage @55 cents per mile (will check on this exact figure, or check with your accountant)
Also, the current employee share of taxes is 7.65%, and our employer pays the same, totaling 15.3%. On the 1099 for summer school pay, none is taken, so you are responsible for the full share, 15.3%.
Pensionable wages – under 50 - $16,500
over 50 -$21,500
Paycheck deductions:
In general…
Federal taxes – depends on you file – single, married, # of dependents, etc
Social Security – 6.2% - maxes out at $105,000 for 2010
Medicare – 1.45% - never maxes out
Unemployment - .00425% - maxes out at $114.28
Many tax prep chains will charge you based on how many W-2’s you are submitting. Because many of us receive multiple W-2’s, we may contribute more taxes than necessary, as they are taken out on each W-2. Form NJ-2450 can be filed to get overpayments back.
If you have any other questions, please submit them to any GFT officer, and we will forward all questions on to Patricia.
ADP – Issues with paychecks – Cathy’s sister, a CPA, will be asked to come in to give us a seminar on what comes out of our paycheck, how much, what to check, how to check pension, etc.
Negotiations – meeting next week – who is negotiating for board? Zukerman, Baruch, Vasquez (alternate)
Laminating & Poster Machines – Please do not change rolls – ask a trained person!
Vending machines – still waiting…
Water – still waiting…(bill was not paid)
No new business
Meeting adjourned – 8:25 – Motion: Colleen T. 2nd: Pam G.
Building Reps: Pat A., Colleen A., Jessica H., Guthrie P., Cheryl S.
Sign up for Committees
Breakfast, etc.
Check pay stubs
Some issues on deductions
Check gross amount
Some problems found last year by various members
Health coverage for young adults of members
Horizon is giving some members a hard time (must fill out lots of paperwork, etc.) for children between 18-23 who are not full time students. Question: has coverage changed? Looking into it…
New position created – taking the place of shadows from private companies. Will be covered under contract.
Electrician needed for teacher’s room for adding toaster ovens, computers, etc. Another vending machine will be added with snacks/drinks.
Our poster machine is locked in the copy room. We are working on access to this room.
A member heard our DRA’s will be sent out for copies.
Laminating paper needed
Vote: Furniture to be purchased for teacher’s room – spend $200. Or less – all in favor – yes!
New Business
·PTO – Rosa told us about new officers – 2 new parents are Pres./VP, Rosa B. Secretary, Anna T. Treasurer
·Sunshine Club Breakfast – Friday, 9/25 in teacher’s room
·Vote: Food to be provided by GFT for dinner for Meet the Teacher night for members – 100% yes
·Raffle prizes – Liz R., Dorothy D., Gina
·Wanda K. read thank you card from Bob R. on retirement thanks
