Nashville Account Fest: Guide to Payroll Taxes and 1099 Issues

428  |  Course  |  Basic  |  Scheduled

Description

Employment taxes are often overlooked as an area where more planning may be effective. Payroll taxes have become an increasing burden for the average business and IRS penalties for noncompliance have risen dramatically in recent years. As a result, they have also been subject to employer incentives. The Service has announced that uncovering noncompliance by employers ranks high on its audit list. This course presents an overview of employee versus independent contractor criteria, the federal payroll taxes form, Form 1099 and related compliance issues.

Credits

Number of Credits Type of Credits
4.00 Taxes
3.33 CLE

Designed For

CPAs in public accounting and industry with responsibility for payroll tax compliance

Highlights

  • Statutory employees, independent contractors and possible changes to 530 relief
  • Using SS-8
  • Payroll Tax Penalties - Who is a responsible person?
  • Forms W-2, 1099, 1099-NEC, SS-8, W-4, 941, and Form 940 reporting/deposit requirements and due dates
  • Understanding payroll tax responsibilities in the gig economy

Objectives

  • Distinguish an employee from an independent contractor and understand the relief available to employers who misclassify employees
  • Understand the withholding requirements for FICA and federal income taxes for Forms W-2 and 1099, including back-up withholding
  • Examine employer requirements regarding Form W-4
  • Understand the gig economy and the payroll tax responsibilities associated with it

Prices

Member (Early Bird)
$179.00
Non-Member (Early Bird)
$229.00
Member
$229.00
Non-Member
$279.00
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This is your base price and does not reflect any additional session fees, optional add-ons, or guest registrations. Early Bird rates will be applied to all registrations made prior to November 29, 2024.

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Instructors

John M. Kilroy

John Kilroy is a managing member of iValue Financial Planning LLC, located in the Philadelphia, Pennsylvania area. John engages clients in financial and tax planning, as well as preparing tax returns for individuals, corporations, partnerships, estates, and trusts. John is a CPA and a CFP® practitioner. He is a 1979 graduate of Villanova University with a BS in Accounting.

John is a member of the Pennsylvania Institute of Certified Public Accountants and the Financial Planning Association (FPA). Within the FPA, John has served as a board member of the Philadelphia Tri-State chapter and on its education and finance committees. John is an adjunct faculty member for the Temple University Certificate of Financial Planning Program. He is a frequent speaker and facilitator on tax and financial planning topics.

John has been quoted in the Wall Street Journal, MarketWatch.com, and USATODAY.com. He has written for the Journal of Financial Planning, and is a contributor to Retirement Weekly. John has also discussed financial and tax planning issues on various radio outlets.

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