Description
Gain a better understanding of the most pressing payroll tax issues you may face this year.Companies must be diligent in deducting the proper amounts of payroll taxes from employee’s paychecks. This is why it is important to ensure you do not misclassify the employees versus the independent contractor. Not only does the employee pay on taxes, but the company must also pay for its employee through the company’s portion of taxes. This topic will show how much employees really cost the employer. You will learn about how the fringe benefits given to all level of employees affect the bottom line and which fringe benefits must be taxed and by how much. The material will cover the due dates on taxes and what happens when late payments are made. Lastly, you will learn how to avoid those dreaded tax notices by making deposits properly.
Employer Taxes: How Much Do Your Employees Really Cost?
• Misclassification of Employees vs. Independent Contractors
• Social Security/Medicare Tax • Employer Match
• Federal Unemployment Tax Calculation • State Loan Repayment
• State Unemployment Taxes
• Pre-Tax Medical Deductions
Fringe Benefits
• Sick or Vacation Pay
• Company Cars
• Employee Discounts
• Tuition Reimbursement
• Country Clubs
• Athletic Facilities
• Frequent Flyer Miles
• Moving Expenses
• Employee Parking
• Holiday Bonuses
• Deminimus Fringe Benefits
Determining the Due Dates on Taxes
• Frequency of Federal Tax Payments
• When Does the Payment Date Become More Frequent?
• Threshold Amounts to Watch
• Holidays and How They Affect Due Dates
Tips on Avoiding Tax Notices
• Steps to Ensure Accuracy
• Tax Deposit
• Quarterly Reconciling
Thresholds and Tax Frequencies
ASA ,SHRM ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
R. Shawn McBride-R. Shawn McBride Law Firm, PLLC
