www.QBalance.com
All about payroll and payroll taxes
800-216-0763 info@qbalance.com
QuickBooks Help and Training
Quarter Ending: (Circle one) Mar 31
June 30
Sept 30
Order
QuickBooks Compatible
Form W-2 and 1099
Dec 31
940 worksheet
EMPLOYEE NAME
A
YTD WAGES
this is a year to date vs quarterly reconciliation so be
sure to write down every employee who was on the
payroll this year even if they did not get a paycheck
this quarter
B
TAXABLE
LIMIT
C
EXCESS OVER
7000
7000
7000
7000
7000
7000
7000
7000
7000
7000
7000
7000
TOTALS
Enter total Column C
(subtract from TOTAL)
Result
Multiply
X .006
YEAR TO DATE AMT DUE
Less: Deposited in prior quarters
Amount to pay this quarter
Annual Summary for use with 940EZ - Maintain Quarterly:
Employer’s share of State Unemployment tax for reporting on Year End 940-EZ
( From state unemployment form )
a
b
c
Taxable Qtrly Wages
ER unempl rate paid
Tax Paid
(generally line line 3 OF to state
(a x b)
your state qtrly unemp
form )
1st qtr
2nd qtr
3rd qtr
4th qtr
Amount reported on form 940:
$
The past few years, the annual 940 form
required an additional payment of tax called
the credit reduction surcharge. Google
“form 940 Schedule A” to determine last
year’s surcharge rate. This additional
surcharge tax is not due until January
following year end. And the surcharge rate
becomes known when the 940 Schedule A is
published by the IRS. The cost can amount
to almost ½ of what you were required to pay
all 4 quarters, and QuickBooks does NOT
accrue it. If you are an employer with a lot of
employees, consider depositing into a
savings account an amount equal to ½ the
quarterly 940 tax deposit to fund this liability
should it appear at the end of this year.
QBalance.com
We make QuickBooks work for you™
CPA
Call TollToll-Free: (800) 216216-0763
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But: you may be one of the 75% of all QuickBooks installations that have hidden
deficiencies that cost your business time, and money. Can you honestly answer these
following questions:
•
Do you have an ideal set-up in QuickBooks?
•
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•
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•
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•
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For over 7 years, QBalance Certified QuickBooks ProAdvisors who are also CPAs
have been helping businesses like yours to save real time and money by making
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might have.
Remember our toll-free telephone number: (800) 216-0763. Please jot it down for
ready reference. Call us when you have any of the following:
•
You have a problem using QuickBooks and need an answer.
•
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•
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demonstration!