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| Name | IRS Form 941 - S Corporation Example for 3rd Quarter |
| Video Uploader | Video From Jason D. Knott |
| Upload Date | This Video Uploaded At 09-04-2024 13:11:34 |
| Video Discription | This Step-by-Step instruction on completing Form 941 (Quarterly Payroll Tax Return) for an S corporation with one shareholder employee. Employers file Form 941 to report company payroll, which includes wages, social security taxes, Medicare taxes, federal income tax withholding, and any available payroll tax credits and payments. In this example, we look at a Form 941 filing for the third quarter ending September 30, 2024. The company already filed its 1st & 2nd Quarter Forms 941. The company is a Florida S corporation with one shareholder-employee. His wages must also include the amount of his shareholder health insurance paid by the S corporation. The shareholder decides to temporarily reduce his paycheck because of slow business, so we adjust the payroll tax calculation for Q3. 1st Quarter Form 941: https://youtu.be/vtum4T_M2b0 2nd Quarter Form 941: https://youtu.be/ZG5QKsj23b0 How to Deduct Shareholder Health Insurance: https://youtu.be/eX4HcEvEtk8 IRS Form 7206 Tutorial: https://youtu.be/OylH0nRswWQ For a larger database of tutorials, please visit our website and search for your question: https://knottlearning.com/ DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials. #Form941 #PayrollTax #payroll g8WFknO1_8Y |
| Category | Education |
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