1. Do you receive a form 1099? Why should you receive a higher hourly rate than if you were issued a W-2 Form (this relates to the self employment tax of 14.3% based on 7.65% as the withholding from the employee and the match paid by the employer as payroll taxes).

2. W-2's must be mailed to employees by January 31 each year. The employer must submit W-2 information to the government no later than February 28 each year. What are some the challenges doing this?

3. If you work for a company and have the ability to sign checks, you may have a liability for unpaid payroll taxes. How comfortable are you with this responsibility?

4. If you work for a company that is not properly submitting payroll taxes, this usually does not affect your withholding values. What do you think of this as a concern for small businesses?

5. At some point, you've probably have filled out a W-4, where you declare the amount of exemptions you wish to claim related to your Federal Tax withholding obligation. What are the financial consequences you need to think about as you complete the W-4?