Guideline Overview of Payroll Taxes and 1099 Concerns
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Gain an understanding of to properly define an employee and an independent contractor within your payroll.Payroll issues can be confusing for any one in business, from the president, company officers, owners and those in positions of overseeing the many aspects of payroll and 1099 reporting inside the day to day working and those who assist businesses with this tricky and complicated topic. How can all the aspects be kept straight and avoid the potential pitfall of missed deadlines and government penalties? This topic will take some of the mystery out of the confusion surrounding payroll filing and 1099 reporting as well as the items needed to keep things tracked, organized and timely. The material explains forms and items that are required submissions to the government, explanations and examples of employees vs. independent contractors, and how to determine when reporting for Independent Contractors is not only necessary but required.
AuthorsVictoria Charvez, EA, Tax Goddess Inc.
• House/Web Keeping
• Review of Materials
• Employer Requirements
• Employee Requirements
Reporting and Depositing Information
• Define Wages
• Payroll Taxes
• Filing of Returns
• Mistakes Can Happen and They Are Fixable
• Due Dates
Employee or Independent Contractor
• Why Is Classification Important?
• Types of Workers
• The Difference Between an Employee and Contractor
• Discuss Payments to Contractors
• What Is Backup Withholding?
• What Forms Are Needed?
• Due Dates
Independent Contractor Reporting - aka 1099s