Understanding Small Business Taxes Part 4

This is part 4 of the 4-part series about Small Business Taxes.  

Lesson 7: Tax deposits and filing a return to report payroll taxes

• Responsibilities for depositing taxes
• Filing a return to report payroll taxes
• Federal tax deposit process
• Deposit requirements and penalties
• Show you how to file:
  • Form 941, Employers Quarterly Federal Tax Return
  • Form 944, Employers Annual Federal Tax Return,
  • Form 943, Employer's Annual Tax Return for Agricultural Employees

Lesson 8: Hiring people who live in the U.S. who aren’t citizens

• Verify employee's identity and status
• Withhold taxes at the proper rate
• Deposit and pay taxes properly
• File accurate and timely withholding tax returns
• Two helpful IRS publications:
  • Publication 519, U.S. Tax Guide For Aliens, and IRS
  • Publication 515, Withholding of Tax on Nonresident Aliens and Foreign Entities

If you have any questions or require registration assistance, call 428-8194 or email business.insight@libraryweb.org.

PLEASE NOTE: Once registered, the Zoom link will be emailed to you from Business.Insight the day before the event. This series is in an online only format.