Form 941 - Quarterly Payroll Tax Form - How Fill Out
Вставка
- Опубліковано 2 жов 2024
- Playlist: • 1100 - Payroll and Cur...
Google Classroom: classroom.goog...
Class code: 527wmle
accountinginst...
Payroll Accounting
The form 941 is a quarterly payroll tax form. Form 941 is filed four times a year and report payroll liability and deposits for federal income tax (FIT), social security, and Medicare, the FICA taxes. Form 941 is not used to calculate what we owe so we can make quarterly payment. Form 941 is an information return. In other word, we should already have paid the IRS for FICA and FIT before completing form 941. Form 941 will recalculate taxes owed for the quarter and payments made. Form 941 will calculate both the employer and employee portion of payroll taxes. Federal income tax withholding are all employee taxes while social security and medicare have an employee and employer portion.
For more accounting information see website.
accountinginstr...
Thanks for the video, it helped me understand better how to fill out Form 941. Do you have a video that explains how to calculate the adjustments?
Great video to explain form 941, but it pained me watching you manually calculate the entries.
We recently started PayME, Payroll-filing Made Easy, www.paymellc.com, to solve many issues Small Business Owners (or their accountants) face when preparing Form 941, which I think you and your viewers might find useful. Our industry-first solution allows you to e-file with:
• No IRS-issued 10-digit PIN! This is entirely new to the marketplace.
• No Username or Password or Login required (but we have a completely optional face recognition solution that pre-populates key data from a return previously filed with us).
• No software to download and configure, or files to scan and upload.
• Easier than Completing by Pen and Paper as the software calculates your tax, adds entries, and highlights many avoidable errors.
• Returns submitted by an Authorized IRS e-file Provider.
• IRS acknowledgements typically in a couple hours (and within 24 hours guaranteed when the IRS systems are fully functional).
• Recently updated to incorporate all the extensive COVID-19 changes (required for 2020 2Q-4Q). We'll release this solution once the IRS finalizes the form.
Since there is no username/password you (or your viewers) could try one to see how you like the service. Here's a link to our website: www.paymellc.com
Which accounting book do I need to get that discusses this topic? Filling out form 941 and 940?
Quick book
Thank you for this helpful tutorial
Well done. Thank you!!
Thank you for the comment Cooper.
LOVED YOUR VIDEO IT WAS VERY DETAIL! THIS WILL HELP OTHERS TO REALLY UNDERSTAND EACH LINE. EVEN WHEN YOU DID THE ADDING PART.
Glad it was helpful! Please subscribe to our channel for more accounting videos.
You could probably skip the adding part. Hopefully by this stage, people know how to add. Or not.
Good explanation..tq
Glad you liked it! Please subscribe to our channel for more
Such a help. Thank you!
Thank you for the comment