Third-quarter payroll reports are due this month, making it a great month for employers to check in on their payroll compliance practices.
To make sure you’re withholding the correct amount of income tax, maintain current Forms W-4 for each employee. Remember, you’re responsible for remitting the withholding on time as part of your payroll tax deposits. Timing for federal deposits can be next day, semi-monthly, monthly or quarterly depending on the total amount of employment taxes owed.
Keep in mind that more than half of the states require a separate form for state withholding.
As always, feel free to pass this Tip along to friends, and reach out if you need help with your personal tax and finance situation.
DiSabatino CPA
Michael DiSabatino
651 Via Alondra Suite 715
Camarillo, CA 93012
Phone: 805-389-7300
ww.sharpcpa.com
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