In this Spanish language webinar, you will learn about the difference between the tax treatment of an employee versus an independent contractor, the Form SS-8, and the Voluntary Classification Settlement Program.
The presentation will provide helpful information that assists employers in meeting their employment tax responsibilities. The prominent employment tax topics being covered are based on comments often receive from the public. Those issues are: Worker Classification, Voluntary Classification Settlement Program, Fringe Benefits, Officer Compensation, and Back-up Withholding & Information Return Penalties.
The Internal Revenue Service reminds employers to correctly determine whether workers are employees or independent contractors. Generally, employers must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment tax on wages paid to employees. Business owners do not generally have to withhold or pay any taxes on payments to independent contractors.
A big advantage to operating your own business is the ability to hire family members. The rules vary, depending on the family relationship and the business entity type such as sole proprietorship, partnership, etc.
This webinar helps employers and employees understand their responsibilities regarding tip reporting, tips and service charges, Revenue Ruling 2012-18 and Form 8027, Employer's Annual Information Return of Tip Income and Allocated Tips.
This workshop helps small business owner understand their tax obligations when hiring people who are not U.S. citizens. At the end of this lesson, small business owners should be able to: Verify the employee’s identity and status with proper documentation; Withhold federal taxes at the proper withholding or treaty rate; Properly deposit or pay the tax withheld; and File accurate and timely withholding tax returns and provide copies to the individual.
Using a payroll provider allows small business owners and self-employed individuals to devote more time to their business instead of spending it on payroll duties since a payroll provider can help ensure forms are filed and deposits are made on time. However, a business must remember that the business owner is ultimately responsible for filing and paying taxes timely, even if the business is using a payroll provider to handle these duties
Employers should remind their employees that all tips received are taxable. They should report their tips to their employer. The best way to do this is to use IRS Form 4070, Employee's Report of Tips to Employer, or a similar statement.