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Avoid Liabilities-Perfect your Understanding of Payroll Tax Withholding

  • ACCT/BK
  • AFSP
  • CRTP
  • CPP
  • CPA (US)
  • EA
  • HRCI
  • ORTP
  • SHRM
  • FPC
  • Maryland Tax Prep.
  • CFIRS
  • CWS

Published: April, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Types of payroll taxes
    5 mins
  • Federal tax withholding calculation and payments
    14 mins
  • How do I pay my federal tax withholding
    22 mins
  • Reporting of state taxes/Payments
    32 mins
  • Understanding SUTA wage bases
    42 mins

Course Description

Understanding payroll taxes is difficult. There remain many questions that some do not get clarity into. For instance: 

  • How do I know how much to withhold?  
  • How often do I pay?  
  • Which taxes do I withhold?  

Taxes are complex and making sure you are in compliance is very important. This is money that 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.  

Attending this CE webinar will give you the basic knowledge of what to look for, where to find information, and how to keep in compliance. The CPE webinar will provide a better understanding of payroll taxes and how to avoid liabilities. Details of how to calculate taxes and what reports are required will be discussed 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 ins and outs of payroll tax withholding.

Key topics included in the CPE webinar on payroll taxes are as follows:

I. Types of Payroll Taxes

  1. Federal Income Tax Withholding
  2. FICA and Medicare Taxes
  3. Additional Medicare Tax Withholding
  4. State Taxes
  5. Local Taxes
  6. Unemployment Taxes-Both State and Federal

II. Federal Tax Withholding Calculations/Payments

  1. How to calculate federal tax withholding
  2. How to determine how often to pay/report
  3. What happens if my liability increases
  4. 100,000 liability rule

III. Reporting of Federal Taxes-Withholding and Unemployment

  1. Form 941
  2. Form 941X-Amended Return
  3. Form 940
  4. W-2 and W-3

IV. Reporting of State Taxes/Payments

  1. Information on calculating State withholding
  2. How often do I withhold and pay
  3. Liability increases

V. Local Taxes

  1. How to determine if there are local taxes
  2. Who/where do I pay them
  3. Am I obligated to withhold for non-residents
  4. Employer tax responsibilities/reporting

VI. State Unemployment Taxes

  1. Determining What State I pay taxes to
  2. Understanding Wage Bases
  3. State Reporting
  4. How/When to file

Click here to access: SHRM and HRCI Approved CPE Courses

Learning Objectives

  • To explore what taxes must be withheld from employees.
  • To develop understanding of employer taxes and your responsibilities.
  • To identify factors to watch for when liabilities increase.
  • To explore how to adjust payments to avoid fines and penalties for increased liabilities.
  • To recognize reports to file along with when and where to file them.

Recommended For

  • This CPE webinar is recommended for CPA, CMA, EA, AFSP, SHRM & HRCI Professionals, and any Other Professional or Staff who is helping clients with payroll taxes and related compliances.

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • California Registered Tax Professional
  • Certified Payroll Manager
  • Compliance Officers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Human Resources Manager
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Payroll Compliance Practitioner
  • Tax Accountant (Industry)
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 General Credit for Accountant/Bookkeeper (ACCT./BK)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP)
  • 1 RCH Credit of Payroll Process and Supporting Systems and Administration for Certified Payroll Professional (CPP)
  • 1 CE Credit of Federal tax-related matters for Enrolled Agents (EA)
  • 1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP)
  • 1 PDC Credit for SHRM Professionals (Approval No. 22-K972D)
  • 1 RCH Credit of Payroll Process and Supporting Systems and Administration for Fundamental Payroll Certification (FPC)
  • 1 CE Credit for Maryland Tax Preparer (MRTP)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 RCH Credit of HR (General) for Human Resource Certification Institute (HRCI) (Approval No. 594515)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a 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 website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Deborah Cash

Specialist, GNA Partners

Debbie Cash, CPP is a Business Analyst-Implementation at G&A Partners.  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 Associates Degree in Accounting from MSSU in 1985 and a Bachelors 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.  

About Company

PROVIDING BUSINESSES THE A NEW PATH TO HR BLISS

Trusted for more than 30 years, Employer Advantage frees you from the administrative and compliance burdens of having employees so you can focus on your business success. Versatile enough for companies of all sizes, our unique service combines comprehensive management of your employee administration and compliance with the latest software solutions, tailored to meet your individual needs and company culture. 

You control the priorities while we structure a program unique to your business’ and employees’ requirements. The best part: you’ll save time and have peace of mind knowing experts have your back.

MORE THAN A SLICK SOFTWARE SOLUTION

We provide your employees with top-notch assistance and benefits that help you increase productivity, save time and money, and attract and retain a talented workforce. And for small and mid-sized businesses, we bring you economy of scale with access to Fortune-500-level benefits, specialty assistance, and savings that would not be possible to attain on your own.    

OUR TEAM IS YOUR TEAM

Our full-service management of HR, payroll, health and benefits, workplace safety, and more, enhances your profitability while reducing the costs and risks associated with employment law compliance. We are an extension of your HR department. When you work with Employer Advantage, you’ll be adding senior HR professionals who can handle your payroll, hiring, workplace safety and more. 

Experienced, certified, and trusted: Payroll, Employment Taxes, Health and Benefits, Retirement, Human Resources, Employee Handbooks, Safety and Loss Prevention, Workers’ Compensation, OSHA, DOT, Timekeeping, Group Health Insurance, 401(k), Ancillary Benefits, Benefit Plan Administration, Employee Administration, Employment Regulations and Compliance, Safety Manuals and Training, Unemployment Claims Management, Worksite Inspections, Regulatory Compliance, and more.  

Headquartered in the Midwest and serving more than 400 companies and 10,000 worksite employees throughout the country, Employer Advantage is an IRS-Certified Professional Employer Organization (PEO) (C-PEO).


Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.7

7 Ratings

Excellent

5

Very Good

2

Average

0

Poor

0

Terrible

0

SZ

Shannon Zander, CPA (US)

Apr 29th, 2022

only issue was with the App. The video never reached 100% so I had to re-run the video on my desktop to be able to take the final quiz.

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