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Chapter 21. QuickBooks and Payroll Taxes > Your Responsibilities As an Employer

Your Responsibilities As an Employer

As an employer and business owner, your basic responsibilities regarding taxes are as follows:

  • Making sure that you’ve set up each employee to have taxes deducted from his paycheck. QuickBooks does not create state disability or state unemployment tax items, so you have to create those yourself.

    → For instructions on how to create payroll tax items, see Chapter 20, “Paying Employees and Contractors,” p. 315.

  • Send federal taxes that you deducted to federal tax agencies such as the IRS and the Social Security Administration.

  • Send state and local taxes that you deducted to state tax agencies. To do this, you might have to calculate a wage base, which QuickBooks does for you. A wage base actually helps ensure that you do not pay too much. This topic is explored in detail in this chapter.

  • Create and send state unemployment tax forms reporting your share of state unemployment liability to your state taxing agency.

  • Create and send quarterly 941 forms to the IRS, stating your tax liabilities.

  • Create and send a yearly 940 form to the IRS, which reports your federal unemployment tax (FUTA) liability.


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