Kilgore College SBDC to hold payroll tax workshop
POSTED: Thursday, January 24, 2013 - 8:00pm
UPDATED: Thursday, January 24, 2013 - 8:14pm
Kilgore, TX (Kilgore College) — The Kilgore College Small Business Development Center will host a workshop for small business owners, managers and entrepreneurs called “Payroll Tax Law 2013.”
This seminar is set for 9 to 10:30 a.m. Wednesday, Feb. 20, at Longview Economic Development Corporation, located at 410 N. Center Street in Longview.
Registration fee is $49 which includes all materials.
The workshop is designed to assist small business owners and managers with the basics in calculating payroll taxes and withholding taxes.
Workshop instructor will be Virgel Conner, Business Advisor for the KCSBDC.
Seating is limited and early registration is recommended.
To register, call the SBDC at 903-757-5857 or 1-800-338-7232.
More information is available at www.KilgoreSBDC.com or follow online at #KCSBDC.
More about the workshop:
Employers are required to calculate gross pay and with various payroll deductions, arrive at net pay.
Withholding payroll taxes from an employee’s paycheck is required by law and must be deposited into an account based on the company's Employer Identification Number.
Topics will include:
• Determining contract labor versus employee based on Internal Revenue Service and Texas Workforce Commission guidelines
• When and how to complete form C-1 in order to establish an employer account with TWC
• Rates and maximum taxable amounts for each employee
• How to calculate Federal Withholding, Social Security, and Medicare as it relates to your employees and the reporting requirements and deposits
Also, forms used in reporting payroll will be discussed and provided to each participant. These forms include the 940, 941, 1099, W-2, W-4 and W-9. Other employer documentation required will be discussed to determine Employment Eligibility and Self Employment Taxes. Websites, online reports and using the Electronic Federal Tax Payment System will be discussed and how it relates to your business.