Payroll Essentials: Getting to Know Payroll Taxes

Overview

Payroll is among the most common tasks an employer undertakes in the course of running their business. At its most basic level, payroll consists of an agreement between an employer and employee related to compensation for services. Once you look under the hood, there is so much more to payroll, including various kinds of compensation, payroll taxes and required reporting on government forms. This course will provide a general introduction to the inner workings of payroll and payroll taxes. We will introduce you to the various types of payroll statutory and withholding taxes, under what conditions and which employees these various types of taxes apply, how to calculate, withhold and deposit those taxes and the related due dates requirements that apply to payroll taxes. This course will include real-life examples of how to process payroll, the withholding and payroll tax deposit regime, familiar payroll forms, and tips and tricks for tying it all together. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics covered in this class include:

• The various types of payroll taxes related to compensation
• Payroll calculations related to the various of payroll taxes
• Introduction to common payroll forms
• Resources, recommendations, and guidance on compensation and payroll related topics

Prerequisites

None

Designed For

Appropriate for professionals at all organization levels, including seasoned professionals. This includes CPAs in public practice, as well as tax professionals working in industry, including those in Controller and CFO roles with limited exposure to payroll.

Objectives

After attending this presentation you will be able to...

• Indicate the types of payroll taxes related to a typical payroll check
• Distinguish between federal and state payroll taxes
• Recall what makes up the components of a payroll tax deposit
• Recall payroll tax deposit filing frequency rules, and requirements
• Identify the various types of payroll tax returns employers need to file and the due dates of these forms
• Examine the interplay between payroll tax deposits and payroll tax returns
• Select correct payroll tax form for use in reporting employer payroll taxes
• Identify IRS publications that are useful resources on payroll topics for employers

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by CPA Crossings. Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.