Can You 1099 an Employee for a Bonus?
Can You 1099 an Employee for a Bonus? Bonuses are a different form of payment and are subjected to their own tax and wage rules. In short, employee bonuses are always taxable as employee benefits and are therefore subject to employment taxes. Additionally, employers must include bonus amounts in calculating unemployment taxes and FICA taxes. […]
Your Guide to Texas Employment Law
Texas employment law can be difficult to define, but it is essential that all employers follow it closely. As a Texas small business owner, you are subject to a range of laws that curb and restrict who you can hire and how they are paid. Below, we have included a brief overview of Texas employment […]
Fixing Errors with 943-X and Payroll Software Support
Form 943-X is an extremely helpful form for those who need it. If you’ve ever made an accounting or calculation error on your 943, you’ve encountered this form. 943-X has a simple use: to correct errors previously filed with Form 943. Also known as the Adjusted Employer’s Annual Federal Tax Return for Agricultural Employees or […]
Is There a Difference in 1099 Tax Rate vs W2 Tax Rate?
If you’re a new business owner, you probably have some questions about the 1099 tax rate vs W-2 tax rate. While you may have paid a contracted worker the same as an employee, their tax and wage forms will look different. This can be confusing, especially if you don’t have much experience with business accounting. […]
Find Payroll Software Solutions for Form 943-A
Form 943-A is a straightforward form, but needing to fill it out often points to a larger need. Also known as the Agricultural Employer’s Record of Federal Tax Liability, form 943-A is a required form for all agricultural employers who are semiweekly depositors or who became one because of an accumulated tax liability of at […]
Get Schedule 941-D and More Form Filing Software Support
If you’ve ever experienced a business reorganization, paid an incorrect amount on withholding tax, or had a financially confusing year, you’ve likely filled out Form 941-D. This form, also known as the Report of Discrepancies Caused by Acquisitions, is used to explain potential discrepancies between certain federal forms, including the W-2, the Wage and Tax […]
Prepare the 941 Payment Voucher and Other Forms with AMS
The 941 payment voucher is an easy form to understand. Users must submit Form 941-V if they are making a payment alongside Form 941. The IRS then uses the completed voucher to credit the payment accurately and promptly. If you have withheld federal income taxes, you must pay those amounts, including your business’s required payments, […]
How to File Your Federal Unemployment Payment Voucher
The Federal Unemployment Payment Voucher is used to supplement payments made with Form 940. It must be mailed alongside Form 940. This payment voucher should take just seconds to complete, but if you’re looking for voucher support, you’re likely in need of a software solution for Form 940, as well as other federal payroll forms. […]
Understand and Prepare the Federal Unemployment Payment Worksheet
The Federal Unemployment Payment Worksheet is used to calculate your credit. This is a helpful tool for employers who paid any state unemployment tax late, as well as employers for whom some paid wages were excluded from state unemployment tax. To complete this worksheet, you will need data for taxable FUTA wages, taxable state unemployment […]
How Does 1099 FIRE Filing Work?
1099 FIRE is the system the IRS uses for electronic filing. FIRE, an acronym for “Filing Information Returns Electronically,” is the fastest, most accurate way to file any form with the IRS. This system can help employers file and report 1099 forms with several advantages: Files are processed faster and with fewer errors The FIRE […]