Recent Articles

Form 941

A quarterly report filed with the Internal Revenue Service reporting taxes witheld from the employees and the matching tax required to be paid by the employer.

Bookkeeping – Payroll Cycles (Lesson 32)

02/06/2017

Similar to the bookkeeping cycle, the payroll cycle has many frequent activities, fewer incremental requirements and one important end of the year report.   This lesson explains these respective cycles and how they tie together for the final year [...]

Bookkeeping – Accounting Cycles (Lesson 29)

01/29/2017

The bookkeeping cycle is like a huge giant clock with several dozen gears from a multiple cog gear rotating the most frequently turning cog cascading into the one large gear that once turned changes the timer one year forward.   The [...]

Payroll – Introduction to Basic Concepts

08/12/2014

Payroll is envisioned as the simple employer employee agreement related to compensation for services.  I often think of this as the simple handshake whereby the employer agrees to pay the employee a set rate per hour of work.  This was true a [...]

Form 941 – The Basics

12/26/2012

Form 941 is the employer’s quarterly federal tax return.  It reports how much federal income taxes were withheld; Social Security taxes and Medicare taxes that are due and how much was paid in deposits to the Internal Revenue Service.  The [...]

Year-End Preparation

12/03/2012

I dread January of every year. I have to spend so much time preparing the year-end payroll reports prior to the January 31 deadline. Not only must your quarterly’s and monthly’s tie together, but it has to match the general ledger at year-end. [...]