Federal Income Tax Withholding in 2022
Understanding payroll taxes is difficult. Taxes are complex and making sure you are in compliance is very important. This is the money you are withholding from an employee’s wages and there are serious consequences for not paying these taxes. Fines and penalties can be assessed for companies who fail to pay taxes properly to the extent that their business can be shut down.
As businesses grow and expand their liabilities can change. This often results in changes to how often they must pay. Not understanding this and knowing the rules of when to pay your taxes will result in notices and possible liens against your business. Laws constantly change and keeping up on payroll laws can be daunting.
Any company who has employees is required to withhold and pay payroll taxes. In addition to what you withhold from an employee there are taxes that you as an employer must pay. The size of your business, where you are located, where your employees live and work; all of these things factor into what you must withhold from employee’s wages and what you must pay in as an employer.
The types of employer taxes that must be paid are also important. Making sure you are in compliance and paying your employer’s share of the taxes is key. If you are a business and do not properly pay them, the IRS and State and Local Governments are likely to impose big penalties and fines. To avoid these liabilities, join us to better understand all types of payroll taxes and how to watch for signs to avoid payroll tax liabilities.
Understanding these things and knowing how much to withhold, how often to pay, where to pay can be difficult. Join us on Clatid this November to understand the different types of withholding that must be withheld from an employee’s paycheck. We will discuss in detail how to determine what to withhold and how this can change as your business grows and liabilities increase. You will understand what to watch for and when to make changes to how and when you must pay. Details of what reports are to be filed and how often you file them will be included.
-Federal Income Tax Withholding
-FICA and Medicare Tax
-Federal and State Unemployment Taxes
Get Answers to
-What taxes must be withheld from employees?
-What are employer taxes and your responsibilities?
-What to watch for when liabilities increase?
-How to adjust payments to avoid fines and penalties?
-What reports to file?
-When and where to file them?
Why You Should Attend
How do you know how much to withhold? How often do you pay? Which taxes do you withhold?
Attending this session will provide you with the basic knowledge of what to look for, where to find information and how to keep in compliance. You will have a better understanding of payroll taxes and how to avoid liabilities. We will discuss the details of how to calculate taxes and what reports are required along with how often they must be paid. Whether you are new to processing payroll taxes or you are the Owner trying to understand more about what you are paying, you will want to attend and get a better understanding of the in’s and out’s of payroll tax withholding.
What You will Learn
This session covers the basics of Payroll tax withholding such as Federal income taxes including State and local income taxes. It also includes examples of tax withholding deposits and the filing frequencies. We will go into details of Payroll Tax Withholding including all the different types of taxes.
This includes details of how to determine what State to pay Unemployment taxes to understanding wage bases of Unemployment taxes. Details of what happens when liability increases or decreases and how to handle it when this happens. We will provide you with links to helpful websites to get guidance on how to handle multiple situations.
Who will Benefit
You may ask your Question directly to our expert during the Q&A session.
Debbie Cash, CPP is a Business Analyst-Implementation at G&A Partners. She collaborates with Clatid Compliance to provide trainings on payroll and human resources. She was formerly a Payroll Tax/Time and Attendance Specialist at Employer Advantage LLC. G&A Partners is a Professional Employer Organization (PEO) that offers payroll, human resources, benefits management, risk management, and accounting services for businesses and they recently acquired Employer Advantage LLC a former PEO. She has been with the organization since 2006.
Debbie earned an associate's degree in Accounting from MSSU in 1985 and a bachelor's degree in General Business from MSSU in 2006. She obtained her Certified Payroll Professional Certification in October 2006. She has 30+ years of experience processing payroll and payroll taxes for various different companies and professions.
Debbie worked as a Payroll Specialist at Missouri Southern State University from 1993 to March 2006. She attended the International Tax Conference in Wisconsin in 2005 and specialized in International Tax for Student Visa’s. She also worked for Joplin R-8 School District from 1990 to 1993.
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