I now have the proper insurances needed in my state for having employees. I'm wondering now if I am suppose to keep the W4 and I9 and I9 documents on hand just incase I need them or if I am suppose to send copies to the IRS.
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Originally posted by Abigail View PostI now have the proper insurances needed in my state for having employees. I'm wondering now if I am suppose to keep the W4 and I9 and I9 documents on hand just incase I need them or if I am suppose to send copies to the IRS.
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Hiring employees.
I been running my daycare since february 2015, i have 2 helpers and just recently i register my daycare as a LLC. Now im stuck with how to do taxes and withholdings from my employees. do i have to go back as far as from the day of hire FEBRUARY or from the day i register as a LLC?
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Originally posted by Unregistered View PostI been running my daycare since february 2015, i have 2 helpers and just recently i register my daycare as a LLC. Now im stuck with how to do taxes and withholdings from my employees. do i have to go back as far as from the day of hire FEBRUARY or from the day i register as a LLC?
They became your employee on the date of hiring.
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employees
Originally posted by Unregistered View PostI been running my daycare since february 2015, i have 2 helpers and just recently i register my daycare as a LLC. Now im stuck with how to do taxes and withholdings from my employees. do i have to go back as far as from the day of hire FEBRUARY or from the day i register as a LLC?
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Originally posted by TomCopeland View PostYour helpers should always have been treated as your employees. You should file the quarterly IRS Form 941 (next deadline is October 31st) and pay in the amount you should have paid since January 1st of this year. File Form 940 for federal unemployment tax by January 31, 2016.
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employees
Originally posted by Unregistered View Postso how do i know how much i am suppose to take out from every employee?
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Originally posted by TomCopeland View PostWithhold 7.65% of their salary for Social Security/Medicare taxes. Withhold federal and state income taxes based on how each employee fills out Form W-4. You must pay another 7.6% out of your own pocket for Social Security/Medicare and you must pay federal and state unemployment taxes.
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