The Complete Guide to Payroll Taxes and 1099 Issues (VIRTUAL SEMINAR)

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CGPT-WEB  |  Virtual Live  |  Basic  |  Scheduled

Curriculum

  • Taxation

Designed For

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

Objectives

To present a comprehensive overview of federal payroll taxes, Form 1099, and related compliance issues.

Highlights

  • Payroll tax requirements for wages, including wages subject to the .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?
  • Expenses and gross-up calculations
  • The CARES Act and employer responsibilities for Form 941
  • 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
  • Understanding payroll tax responsibilities in the gig economy
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Instructors

John N. Sherrick

Show Bio

John N. Sherrick is the managing partner of Sitrick & Associates, LLC in Bettendorf, Iowa. John prepares tax returns and financial statements for closely held companies and their owners. He also provides retirement and estate-tax planning for his clients. In addition, John serves as an expert witness for business valuations and other tax and accounting issues. John has over 30 years of experience in public accounting with local firms. His experience includes a wide variety of tax and accounting issues for small businesses in a number of industries. John also has had experience in auditing and taxation of not-for-profit organizations on the local and national level. John received his bachelor's degree in economics and business administration from Knox College in Galesburg, Illinois. He then received his master's degree in accounting from the University of Iowa, Iowa City, Iowa. John holds CPA certificates in both Iowa and Illinois and is a member of the AICPA, the Iowa Society of CPAs, and the Illinois CPA Society. 1/06

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