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Payroll Tax, Withholdings, Payroll Calculations, Reporting of Withholding Taxes, Deadlines and Penalties in 2023

Payroll, Taxes and Withholdings in 2023 

Paying employees is one of the most important parts of doing business. Employees work to be paid so making sure they are paid timely and correctly is crucial to your business, but how should you calculate their pay? How do you know how much to withhold? How often do you pay? Which taxes do  you withhold? Taxes are complex and making sure you are in compliance is very important. 

This is money that you are withholding from an employee’s wages and there are serious consequences for not paying these taxes.  Fines and penalties can be assessed for companies who fail to pay taxes properly to the extent that their business can be shut down. Laws constantly change and keeping up on payroll laws can be daunting. 

Learning the most crucial as well as the often-ignored aspects of processing payroll is necessary. Join us on Pearleducation this January to learn the right way to calculate employees pay, deductions withheld from employee’s paychecks and what taxes are required. You will also learn the details of how to report taxes and the deadlines and penalties that can be assessed if they aren’t paid timely. 

After processing, there is the important part of paying in those taxes and withholding that you took from the employee’s pay. We will go into what that process looks like, how you report and file as well as paying the taxes. This is an important part of payroll processing and if not done correctly can result in fines and penalties. 

Join us to learn the basic knowledge of how and what items you need to pay your employees, how to calculate their pay, what taxes to withhold, how to pay in those taxes, and better knowledge of payroll in general to help keep you in compliance in 2023. 

We will discuss the details of how you can calculate taxes and what reports are required along with how often they must be paid. Whether you are new to processing payroll taxes or you are the Owner trying to understand more about what you are paying, you will want to attend and get a better understanding of the in’s and out’s of payroll. Register now! 

Topics Covered:

-Items needed to process payroll
-Payroll calculations in 2023
-Withholdings
-Payroll tax calculations
-Reporting of withholding taxes in 2023
-Deadlines
-Penalties
 

What You will Learn:

-What forms are needed to process employee’s pay
-How to calculate your employee’s pay
-What taxes must be withheld from employees

 

Bonus Topics

-Understanding of how/where to pay employee and employer taxes and your responsibilities
-Better knowledge of Deadlines and awareness of Fines and Penalties that can be assessed

 

Why You Should Attend:

Administrative Professionals hold many hats. While they may not be the person processing the payroll, they may be gathering the data needed for processing. To do this, they must understand the process to gather the right data and help employees when they have questions. Without this understanding, they can not properly answer the employees questions or know what to gather for the person processing the payroll. Having a good understanding of the payroll process will enhance their knowledge and help provide the right paperwork to their Team members. 

In this session, we will go into more detail on the aspect of payroll processing. Beginning with the forms needed to process payroll, we will then go into how to calculate the pay including the taxes that must be withheld. The latest changes will also be discussed keeping in view the payroll dynamics of 2023. 
 

Who will Benefit:

-Payroll professionals
-Owners
-Tax professionals
-Bookkeepers
-Managers

 

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