Nexen Consulting, 1275 MERCHANTS Drive, Dallas, GA (2026)

Name: Nexen Consulting
Address: 1275 MERCHANTS Drive, Dallas, GA, 30132, US
Telephone: +15182123417

03/13/2026

File your taxes with NEXEN, before April 15

03/10/2026

Starting in 2025, the cap on state and local tax (SALT) deductions increases from $10,000 ($5,000 for married couples filing separately) to $40,000 ($20,000 for separate filers). If your 2026 property taxes have already been assessed, prepaying them in 2025 could help you maximize your 2025 deduction. But keep in mind that the cap is reduced for taxpayers with modified adjusted gross incomes over $500,000 ($250,000 for separate filers). Let us help you determine how to incorporate the increased SALT deduction limit into your tax planning.

03/08/2026

📘 Payroll Tax Calculation Worksheet
(For One Employee – Single Payroll Period)
Step 1: Gross Pay Calculation
Description
Amount ($)
Regular wages
______
Overtime wages
______
Bonus / Commission
______
Total Gross Pay
A = ______

Step 2: Pre-Tax Deductions
Deduction
Amount ($)
401(k) contribution
______
Health insurance
______
HSA / FSA
______
Other pre-tax
______
Total Pre-Tax Deductions
B = ______

Taxable Wages (Federal Income Tax & F**A)
Step 3: Employee Payroll Tax Withholding
1️⃣ Federal Income Tax (FIT)
Use IRS withholding tables (based on Form W-4).

FIT = ______
2️⃣ Social Security Tax
Rate: 6.2%
Wage base limit applies annually
= ______

3️⃣ Medicare Tax
Rate: 1.45%
No wage limit
= ______

4️⃣ Additional Medicare Tax (if applicable)
0.9% on wages over $200,000 (employee only)
= ______

Step 4: Total Employee Withholding
= ______

Step 5: Employer Payroll Tax Expense
Employer matches:
Tax
Amount ($)
Social Security (6.2%)
______

Medicare (1.45%)
______

FUTA (0.6% typical effective rate)
______

State Unemployment (varies)
______

Total Employer Payroll Tax
D = ______

Step 6: Net Pay
= ______

🔎 Worked Example
Employee earns $5,000 (biweekly)
No pre-tax deductions.

Taxable wages = $5,000
Social Security = $5,000 × 6.2% = $310
Medicare = $5,000 × 1.45% = $72.50
FIT (example) = $600
Total Employee Taxes = $982.50
Employer Match:
SS = $310
Medicare = $72.50

Total Employer Cost = $382.50
Total payroll cost to employer =
$5,000 + $382.50 = $5,382.50.

📊 How This Connects to Form 941
Quarterly totals include:
Line 2 → Total wages
Line 3 → Federal income tax withheld
Line 5a → Social Security wages
Line 5c → Medicare wages
Line 12 → Total tax liability

03/06/2026

Did you know?
Many taxpayers qualify for deductions and credits they may not realize they are eligible for.
Understanding the tax code and maintaining accurate financial records can significantly improve your filing process.
Our team at Nexen Consults focuses on helping clients navigate their U.S. tax and bookkeeping needs efficiently.

01/19/2026

Stop stressing over tax forms. ☕️📖

April 15th always arrives faster than you think. Why spend your weekends digging through receipts when you can leave it to the pros?

At Nexen Consulting, we make filing your taxes simple, secure, and smart. We help you find every deduction you’re entitled to so you can keep more of what you earn. 💸

Why Nexen? ✨ Expert guidance for individuals & businesses ✨ Accurate, on-time filing ✨ Peace of mind guaranteed

Ready to check “Taxes” off your to-do list? 📝

🔗 DM for inquiries 📥

FinancialFreedom FileTaxes

Address

1275 MERCHANTS Drive
Dallas, GA
30132

Telephone

+15182123417

Website

https://www.nexenconsults.com/

Alerts

Be the first to know and let us send you an email when Nexen Consulting posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Nexen Consulting:

Nexen Consulting