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 Standeagle 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
Debbie Cash
Debbie Cash, CPP is a Business Analyst-Implementation at G&A Partners. She collaborates with Clatid Compliance to provide trainings on payroll and human resources. She was formerly a Payroll Tax/Time and Attendance Specialist at Employer Advantage LLC. G&A Partners is a Professional Employer Organization (PEO) that offers payroll, human resources, benefits management, risk management, and accounting services for businesses and they recently acquired Employer Advantage LLC a former PEO. She has been with the organization since 2006.
Debbie earned an associate's degree in Accounting from MSSU in 1985 and a bachelor's degree in General Business from MSSU in 2006. She obtained her Certified Payroll Professional Certification in October 2006. She has 30+ years of experience processing payroll and payroll taxes for various different companies and professions.
Debbie worked as a Payroll Specialist at Missouri Southern State University from 1993 to March 2006. She attended the International Tax Conference in Wisconsin in 2005 and specialized in International Tax for Student Visa’s. She also worked for Joplin R-8 School District from 1990 to 1993.
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