Guide to Payroll Taxes & 1099 Issues [GPT4]

Subject:

Sep 18, 2023
Time: 08:30am-12:00pm
Taxation

Credit Hours:

4.00

Price:

Member: $175.00
Non-member: $240.00

Discussion Leader:

Susan Smith, CPA

Susan Smith manages her own firm specializing in tax planning for individuals and business owners and is also a frequent speaker at tax conferences. Smith was a Senior Manager in the tax departments of Price Waterhouse and Peat Marwick (the predecessor of KPMG). While at Price Waterhouse, she also held the national specialist designation for the real estate and partnership tax practices. During her time at Peat Marwick, Smith led the real estate and tax practices locally. She was an associate adjunct professor at Widener University in the master’s taxation program. Her ratings have consistently exceeded 4.8 on a scale of 5.0. Smith is a four-time recipient of the James L. McCoy Discussion Leader of the Year Award for excellence in teaching. And in 2015, 2016, and 2018, she received the Surgent Outstanding Discussion Leader Award because of her consistently high evaluations for knowledge and presentation skills. Smith earned her Bachelor of Business Administration degree with an accounting concentration, from the University of Toledo.

Full Description

Guide to Payroll Taxes & 1099 Issues (GPT4)

September 18th, 2023 / 8:30 am 12:00 pm

Elgee Rehfeld, LLC
9309 Glacier Highway, Suite B-200
Juneau, AK

Employment taxes are often overlooked as an area where more planning may be effective. Payroll taxes have become an increasing burden for the average business and IRS penalties for noncompliance have risen dramatically in recent years. As a result, they have also been subject to employer incentives. The Service has announced that uncovering noncompliance by employers ranks high on its audit list. This course presents an overview of employee versus independent
contractor criteria, the federal payroll taxes form, Form 1099, and related compliance issues.

Major Topics:
- Statutory employees, independent contractors, and possible changes to 530 relief
- Using SS-8
- Payroll Tax Penalties - Who is a responsible person?
-Forms W-2, 1099, 1099-NEC, SS-8, W-4, 941, and Form 940 reporting/deposit requirements and due dates
- Understanding payroll tax responsibilities in the gig economy

Learning Objectives:
- Distinguish an employee from an independent contractor and understand the relief available to employers who misclassify employees
- Understand the withholding requirements for FICA and federal income taxes for Forms W-2 and 1099, including back-up withholding
- Examine employer requirements regarding Form W-4
-Understand the gig economy and the payroll tax responsibilities associated with it

Designed For: CPAs in public accounting and industry with responsibility for payroll tax compliance.

CPE Credits: 4, Taxation

Level of Knowledge: Basic

Prerequisite: None

Acronym: GPT4

Discussion Leader: Susan Smith, CPA