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Best Practices: Payroll Tax Withholding and Related Matters

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • HRCI
  • ORTP
  • SHRM
  • Maryland Tax Prep.
  • CFIRS
  • CWS

Published: October, 2021

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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

  • Income Tax Withholding
    4 mins
  • Four Factors to determine which state
    24 mins
  • Where do I pay the local withholding
    61 mins
  • Are you an employer in NJ for SUI/TDI?
    107 mins
  • So What do we need for our HR Manager?
    138 mins
  • Tip Credit Against Minimum Wage
    164 mins
  • FUTA Taxable vs Reportable
    213 mins
  • Paid Sick and Family Leave Credit
    273 mins
  • Determining how to often to pay your federal withholding
    311 mins
  • Understanding SUTA Wage Bases
    348 mins
  • Federal Payroll tax form amendments
    384 mins

Course Description

A payroll tax is a percentage withheld from an employee's pay by an employer who pays it to the government on the employee's behalf. The tax is based on wages, salaries, and tips paid to employees. Federal payroll taxes are deducted directly from the employee's earnings and paid to the Internal Revenue Service (IRS).

Employment taxes are often overlooked as an area where planning can prove to be effective. Payroll taxes have become an increasing burden for the average business, and IRS penalties for noncompliance have risen dramatically in recent years. There are numerous compliance issues when the employees cross state lines in the course of employment. Especially, when ‘work remote’ has been promoted to support practical business challenges, payroll and payroll have transformed into tricky management.  This online CPE/CE webinar covers key updates of 2020-21, forms W-2, W-4, and 941 with updates, COVID, and other federal and state law changes that cover payroll, deduction, withholding, and other key considerations to provide you with a comprehensive view of payroll requirements. It also provides tips to manage multistate payroll.  

This Online CPE Taxes Webinar covers the following Major Topics: 

  • What factors determine which tax the employer must withhold?
  • The differences between residents and non-residents and how to properly report withholding.
  • Handling of state taxes when an employee lives in one state and works in another.
  • Handling of supplemental taxation.
  • Reciprocal agreements and how they affect the withholding of state income tax.
  • Form W-4 and W-2
  • Non-resident forms and military spouse exemption forms.
  • SUI or state unemployment insurance.
  • Form 941 and Form W-2 
  • Changes to the Form 941 for 2020 and 2021.
  • COVID-19 updates
  • Sick and Family Leave wages.
  • Employee Retention Credit
  • Annual Taxation Updates
  • Deferred Comp
  • IRS Limits (Mileage, transportation, etc.)
  • Taxation of Fringe Benefits
  • Types of payroll taxes
  • Federal tax withholding calculations/payments
  • Reporting of Federal Taxes, withholding, and unemployment
  • Reporting of state and local taxes and payments
  • State unemployment taxes
  • W-2 and W-3 Corrections
  • Corrections on Current Forms
  • Corrections to Common Errors for Prior Year Forms
  • Federal Payroll Tax Form Amendments
  • Other Considerations

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 from this online CPE webinar.

This webinar is presented by Deborah cash, Vicki Lambert, and Dayna Reum.

Learning Objectives

  • To identify what is Nexus, if your company has it.
  • To recognize when state law takes precedence over federal law, and explore the state minimum wage rates. 
  • To identify the states that have reciprocal agreements, explore how those agreements affect taxation, and explore the various taxes required by different states including income tax, disability insurance, and the plethora of local taxes that may apply to wages paid.
  • To differentiate between a resident and a non-resident of a state and how that affects state income tax withholding, to discover how to determine state withholding liability, and explore which states require the use of their own Withholding Allowance Certificate and which state allows either theirs or the Form W-4 to be used and which states do not have a form.
  • To identify which states, follow the Internal Revenue Code and which version.
  • To explore the requirements for reporting wages for multistate employees on Form W-2, and to identify the four factors that are used to determine state unemployment insurance liability.
  • To summarize COVID-19 Legislative updates and how to manage them.
  • To review FUTA tax rate and tax deposition; examine How FUTA & SUTA interact and its importance, summarize details of the FUTA Credit Reductions; and discuss how to reduce and maintain your SUI rates.
  • To discuss who and which earnings are subject to unemployment taxes, identify the status of the state unemployment system, how it will affect your job in the coming years; recognize for which state you are liable to pay unemployment taxes, and explore what is the SIDES program and its impact.
  • To understand where we are in current legislation, explore the possible impacts of tax reform, and Update on where legislation is with Tax reform and what the IRS is saying.
  • To discuss Form 940 changes and common errors made; annual updates you need to be aware of, and Form updates and how to handle them for 2020 & 2021.
  • To explore what taxes must be withheld from employees, and develop an understanding of employer taxes and your responsibilities.
  • To identify factors to watch for when liabilities increase and explore how to adjust payments to avoid fines and penalties for increased liabilities.
  • To recognize reports to file along with payroll, and when & where to file them.
  • To determine when an amendment needs to be filed, explore which fields to complete for the amendments, identify what other amendment forms need to be filed, and review documentation to properly file your amendments.

Recommended For

  • This online IRS-approved CE course is recommended for CPA, EA, AFSP, CPP, FPC, Other Tax Professionals, Tax attorneys, Tax and Accounting Staff responsible for tax compliance and planning, and the desire to learn about IRS forms.
  • This Payroll tax webinar is also recommended for SHRM, HRCI, Tax Professionals, and others who are helping clients with payroll taxes and related compliances and want to stay updated with Payroll tax-related changes. 

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 9 PDC Credit of Business Acumen for SHRM Professionals (Approval No. 22-UZTC2)
  • 9 CE Credit for Enrolled Agents (EA) (Approval No. GEHNZ-U-00738-21-S)
  • 9 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 9 CE Credit for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0689)
  • 9 CE Credit for Annual Filing Season Program (AFSP)
  • 9 RCH Credit of HR (General) for Human Resource Certification Institute (HRCI) (Approval No. 583769)
  • 9 CE Credit for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-00738-21-S)
  • 9 CE Credit for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-00738-21-S)
  • 9 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 9 CE Credit for Certified Wealth Strategist (CWS)
  • 9 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    9
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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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, CPP

Business Analyst-Implementation, 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).


About Presenter

Dayna Reum

Specialist, GNA Partners

Dayna currently is the director of payroll operations at a major medical center in Chicago and has been heavily involved in the payroll field for more than 20 years.

She started as a payroll clerk at a small Tucson company but moved on to be a payroll team leader at Honeywell Inc. 

During her time at Honeywell Inc., she obtained her FPC (Fundamental Payroll Certification) through the American Payroll Association. Dayna has also received several merit awards for customer service and acquisitions, and divestiture.

She also serves on the National American Payroll Association on the national Strategic Leadership Task Force, Government Affairs Task Force (PA Local tax subcommittee), and received a citation of merit for her service along with being a gold pin member of the APA.

Dayna is also a CPP (Certified Payroll Professional) through the APA and certified in HR hiring and firing practices and is a Six-Sigma Greenbelt.


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).


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FAQs content

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  • 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

4.3

21 Ratings

Excellent

8

Very Good

11

Average

2

Poor

0

Terrible

0

SM

Stuart Merrill, CPP, SPHR

Mar 5th, 2022

There was some overlap between sections, but overall the course was very informative.

JL

Jason Lapierre, CPA (US)

Dec 3rd, 2021

N/A

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