The 940 Essentials: Master Your FUTA Tax Compliance & Calculations Before the Deadline!

Avoid Costly Mistakes – Urgent FUTA Tax Compliance Strategies to Avoid Penalties in 2024!

Instructor :
Mark Schwartz

Webinar ID:
15898

Date: MAY 20, 2024 (MON)

Start Time: 10 AM PT - 11:15 AM PT

Duration: 75 Mins.

What you will learn

  • Exploring Form 940’s Purpose and 2024 Updates.
  • Highlighting Reminders, Expenses, and Benefits.
  • Clarifying Outsourcing Responsibilities and Disregarded Entities.
  • Criteria for Mandatory Filing; Key Deadlines.
  • Basic FUTA Calculations, Detailed …
  • Exploring Form 940’s Purpose and 2024 Updates.
  • Highlighting Reminders, Expenses, and Benefits.
  • Clarifying Outsourcing Responsibilities and Disregarded Entities.
  • Criteria for Mandatory Filing; Key Deadlines.
  • Basic FUTA Calculations, Detailed Form Walkthrough.
  • Understanding SUTA, Multistate Rules, Experience Rating.
  • Sample W-4 Completion with Calculations and Schedules.

Course Description

The Form 940 serves as the primary document for calculating your annual Federal Unemployment Tax (FUTA) obligations.

FUTA taxes, paid to the federal government, support state unemployment insurance programs. It’s crucial to distinguish FUTA from SUTA (State Unemployment Tax), which is paid to the states where your employees work.

Here’s what you need to know:

  • Due Date: The FUTA tax is due by January 31st of each calendar year.
  • SUTA Connection: Making SUTA payments on time can significantly reduce your FUTA tax rate, typically set at 0.6% on up to $7,000 paid to each employee.
  • Common Pitfalls: Late SUTA payments, delayed FUTA deposits, or state-specific credit reductions can all increase your FUTA rate beyond 0.6%.

Filling out Form 940 can be complex, given the nuances of SUTA payments and their impact on FUTA taxes. That’s why we’re hosting an informative webinar led by Mark Schwartz, designed to demystify this process.

During the webinar, you will:

  • Learn the essentials for accurately calculating your FUTA tax.
  • Understand how to properly calculate and pay your SUTA tax, ensuring compliance and minimizing FUTA liability.
  • Navigate Form 940 with confidence, linking your SUTA information to the relevant sections and understanding its influence on your FUTA obligations.

Join us for a clear breakdown of these requirements, ensuring that you’re well-equipped to manage your unemployment taxes effectively.

Enroll Now!

The Form 940 serves as the primary document for calculating your annual Federal Unemployment Tax (FUTA) obligations.

FUTA taxes, paid to the federal government, support state unemployment insurance programs. It’s crucial to distinguish FUTA from SUTA (State Unemployment Tax), which is paid to the states where your employees work.

Here’s what you need to know:

  • Due Date: The FUTA tax is due by January 31st of each calendar year.
  • SUTA Connection: Making SUTA payments on time can significantly reduce your FUTA tax rate, typically set at 0.6% on up to $7,000 paid to each employee.
  • Common Pitfalls: Late SUTA payments, delayed FUTA deposits, or state-specific credit reductions can all increase your FUTA rate beyond 0.6%.

Filling out Form 940 can be complex, given the nuances of SUTA payments and their impact on FUTA taxes. That’s why we’re hosting an informative webinar led by Mark Schwartz, designed to demystify this process.

During the webinar, you will:

  • Learn the essentials for accurately calculating your FUTA tax.
  • Understand how to properly calculate and pay your SUTA tax, ensuring compliance and minimizing FUTA liability.
  • Navigate Form 940 with confidence, linking your SUTA information to the relevant sections and understanding its influence on your FUTA obligations.

Join us for a clear breakdown of these requirements, ensuring that you’re well-equipped to manage your unemployment taxes effectively.

Enroll Now!

Why you should attend

In a landscape where 82% of business failures are due to poor cash flow management, understanding and mastering FUTA tax compliance is not just a necessity—it’s a game changer.

Here’s why attending “The 940 Essentials” webinar will be a pivotal moment for you and your business:

  • Avoid Common Pitfalls: Learn from the 20% of businesses that have faced FUTA non-compliance penalties in the last year alone.
  • Save Money: Equip yourself with knowledge that can save thousands in potential penalties and overpayments.
  • Expert Guidance: Gain exclusive access to industry leaders and tax experts who have navigated the complexities of FUTA for years.
  • Real-World Solutions: Discover practical strategies and tools that you can apply immediately to your business operations.
  • Stay Ahead: With regulations constantly evolving, staying informed is critical. Our webinar offers the latest updates and forecasts to keep you ahead.

After attending this webinar, you will be able to:

  1. Know what SUTA and FUTA are, their similarities and differences.
  2. Properly calculate SUTA and FUTA
  3. Know deposit requirements
  4. Explain what the 940 is, and what information and calculations are involved.
  5. Determine where to pay SUTA for multistate workers.
  6. Explain how paying SUTA on time minimizes FUTA
  7. Train your hiring, payroll and HR workforce on this matter

Don’t miss out—register today and secure your spot in this must-attend event for any business looking to streamline their FUTA tax compliance and calculations.

Join Now!

In a landscape where 82% of business failures are due to poor cash flow management, understanding and mastering FUTA tax compliance is not just a necessity—it’s a game changer.

Here’s why attending “The 940 Essentials” webinar will be a pivotal moment for you and your business:

  • Avoid Common Pitfalls: Learn from the 20% of businesses that have faced FUTA non-compliance penalties in the last year alone.
  • Save Money: Equip yourself with knowledge that can save thousands in potential penalties and overpayments.
  • Expert Guidance: Gain exclusive access to industry leaders and tax experts who have navigated the complexities of FUTA for years.
  • Real-World Solutions: Discover practical strategies and tools that you can apply immediately to your business operations.
  • Stay Ahead: With regulations constantly evolving, staying informed is critical. Our webinar offers the latest updates and forecasts to keep you ahead.

After attending this webinar, you will be able to:

  1. Know what SUTA and FUTA are, their similarities and differences.
  2. Properly calculate SUTA and FUTA
  3. Know deposit requirements
  4. Explain what the 940 is, and what information and calculations are involved.
  5. Determine where to pay SUTA for multistate workers.
  6. Explain how paying SUTA on time minimizes FUTA
  7. Train your hiring, payroll and HR workforce on this matter

Don’t miss out—register today and secure your spot in this must-attend event for any business looking to streamline their FUTA tax compliance and calculations.

Join Now!

Course Agenda

  • Purpose of form 940
  • New for 2024
  • Reminders
    • Expenses, reimbursements and fringe benefits
    • Outsourcing responisibilites
    • Disregarded entities, and more….
  • Who must file
  • Due dates and deposit deadlines
  • Basic computations
  • Form 940, part by part
    • Pt 1: Info for YOUR business
    • Pt 2: FUTA tax before adjustments
    • Pt 3: Adjustments and the line 10 worksheet
    • Pt 4: Total adjusted FUTA tax
    • Pt 5: Quarterly information
    • Pt 6: 3rd party designee
  • Sch A: Credit reduction state calculations
  • SUTA overview
    • States with an additional employee withholding
    • What is considered when calculating SUTA rates for employers (experience rating)
    • Multistate determinations: which state to pay your suta for employees who work in more than one state
  • Sample completed W4 with computations and schedules

BONUS:

  1. PDF copy of the presentation handout for your future reference.
  2. Soft copy of the certificate of completion on request.
  3. Q&A Session with the Presenter: Get your pressing questions answered verbally, via chat or email.
  • Purpose of form 940
  • New for 2024
  • Reminders
    • Expenses, reimbursements and fringe benefits
    • Outsourcing responisibilites
    • Disregarded entities, and more….
  • Who must file
  • Due dates and deposit deadlines
  • Basic computations
  • Form 940, part by part
    • Pt 1: Info for YOUR business
    • Pt 2: FUTA tax before adjustments
    • Pt 3: Adjustments and the line 10 worksheet
    • Pt 4: Total adjusted FUTA tax
    • Pt 5: Quarterly information
    • Pt 6: 3rd party designee
  • Sch A: Credit reduction state calculations
  • SUTA overview
    • States with an additional employee withholding
    • What is considered when calculating SUTA rates for employers (experience rating)
    • Multistate determinations: which state to pay your suta for employees who work in more than one state
  • Sample completed W4 with computations and schedules

BONUS:

  1. PDF copy of the presentation handout for your future reference.
  2. Soft copy of the certificate of completion on request.
  3. Q&A Session with the Presenter: Get your pressing questions answered verbally, via chat or email.

Who is this course for

Maximize the Learning Experience in A Group Setting!

  • HR Managers
  • Payroll Managers
  • A/P Managers
  • Controllers, Tax Preparers
  • Accountants, Bookkeepers
  • Financial Consultants
  • Small Business Owners

Maximize the Learning Experience in A Group Setting!

  • HR Managers
  • Payroll Managers
  • A/P Managers
  • Controllers, Tax Preparers
  • Accountants, Bookkeepers
  • Financial Consultants
  • Small Business Owners

Instructor Profile

Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of...

Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations. He is expert at defining regulatory and statutory requirements from local, State and Federal government agencies; and helping the average businessperson understand what that means to their business. He has processed weekly and bi-weekly payroll checks plus tax forms for businesses with hourly as well as exempt workers, multistate operations and a wide variety of benefits.

Mr.Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Mark has represented both clients and the State in front of the State Appeals Board. He understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting your employees.

Mark prides himself on his outstanding customer service skills. He listens attentively to his clientele, helping them bridge the gap between the small business world and Government bureaucracy. He eagerly assists with clients needs and feels that educating clients toward faster, accurate and more complete payroll processes provide the most value.

Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.

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