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OnDemand Course

Guideline Overview of Payroll Taxes and 1099 Concerns

Gain an understanding of how to properly define an employee and an independent contractor within your payroll.

Payroll issues can be confusing for anyone 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. This 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.

Learning Objectives

  • You will be able to identify the various tax forms and their purposes.
  • You will be able to identify tax reporting due dates.
  • You will be able to differentiate between the various payroll tax requirements.
  • You will be able to recognize employee types and resulting taxes

Runtime: 108 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview

  • House/Web Keeping
  • Review of Materials
  • Employer Requirements
  • Employee Requirements
  • Recordkeeping

Employer Responsibilities

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

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on August 17, 2020.

Call 1-866-352-9540 for further credit information.

  • CPE/NASBA - QAS Self Study 3.0 including Taxes 3
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 3.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 3.0 hours. Prerequisite: basic knowledge of processing payroll. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Victoria Charvez, EA

Victoria Charvez, EA

Tax Goddess Inc.

  • Tax accountant and owner of Tax Goddess Inc.
  • Tax preparation and accounting for all areas of income tax, payroll tax, sales taxes and property taxes
  • Conducts regular seminars and workshops on numerous payroll taxes and 1099 reporting in cooperation with state payroll agencies
  • Past president of California Society of Enrolled Agents & Mission Society of Enrolled Agents
  • Can be contacted at 408-564-6955 or [email protected]
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!

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* For audio recordings you only pay shipping

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Product ID: 407997
Published 2020
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