Early Bird Fees (through 10/2)
After 10/2, add $50 to your fee.
CPE: 8 hours
Vendor: Surgent McCoy CPE
Advanced prep: None
Who should attend: CPAs in public accounting and industry with responsibility for payroll tax compliance.
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. They have also been subject to employer incentives. The IRS has announced that uncovering noncompliance by employers ranks high on its audit list. This course presents a comprehensive overview of federal payroll taxes, Form 1099, and related compliance issues.
- Distinguish an employee from an independent contractor and understand the relief available to employees who misclassify
- Understand how to complete Forms W-2, 1099-MISC, 1099-R, and SS-8
- Comply with the quarterly and annual reporting for employment tax deposits
- Payroll tax requirements for wages, including wages subject to the new .9 percent tax, employee benefits and reimbursements, nonqualified deferred compensation, stock options, and tips
- Fringe benefits issues, such as health insurance, life insurance, cafeteria plan benefits, accountable and non-accountable plans, standard mileage rates, and per diem rates
- Special issues – Using a common paymaster, how to file W-2s after a takeover, merger, or acquisition, and state and local tax withholding
- Statutory employees, independent contractors, and possible changes to §530 relief
- Penalties – Who is a responsible person?
- Moving expenses and gross-up calculations
- Form 941 issues and problems, such as disability benefits, tip income, and deceased employees
- Pension issues and payroll taxes including SIMPLE plans, and §401(k) and pension distributions
- The Electronic Federal Tax Payment System (EFTPS)
- Forms I-9, W-9, W-2, 1099, SS-8, and Form 940
Meet the speaker
Jeff Snyder, CPA is president of the J.C. Snyder Co., Inc., a professional accounting firm, and Snyder Management Corporation, a tax compliance and planning firm. He has been in the accounting profession for over 30 years. Since 1996, he is also a developer and presenter of continuing professional education for CPAs and other professionals. He combines his broad knowledge of accounting and tax information into an energized teaching atmosphere that motivates his students to excel in learning and understanding complex issues. He consistently receives high evaluations from course participants and has great enthusiasm for teaching and training.
In the mid-1990s, Snyder was an adjunct professor of accounting at Columbus State Community College for three years and also led training for the American Institute of Banking.
Snyder is an alumnus of The Ohio State University, where he received his undergraduate training in accounting and economics.