Coffee Connections Series: Payroll Law 2012

The Kilgore College Small Business Development Center (SBDC) will be hosting the first in a new series of coffee connections workshops for small business owners, managers and entrepreneurs entitled “Payroll Law 2012”.  This seminar will be offered Thursday, March 1 from 9:00 – 10:30 a.m. in the Kilgore College SBDC Boardroom, located at 911 NW Loop 281, Ste. 209 (Austin Bank Building).  Fee to attend is $49 and includes all materials.

This workshop is designed to assist small business owners and managers with the basics in calculating payroll taxes and withholding taxes. Employers are required to calculate gross pay and with various payroll deductions, arrive at net pay. Withholding payroll taxes from an employee’s paycheck is required by law and must be deposited into an account based on the company's Employer Identification Number. Topics to be discussed include: Determining Contract Labor versus Employee based on Internal Revenue Service and Texas Workforce Commission guidelines; When and how to complete form C-1 in order to establish an employer account with TWC; Rates and maximum taxable amounts for each employee will be discussed; How to calculate Federal Withholding, Social Security, and Medicare as it relates to your employees and the reporting requirements and deposits. Forms used in reporting payroll will be discussed and provided to each participant. These forms include the 940, 941, 1099, W-2, W-4, W-9. Other employer documentation required will be discussed to determine Employment Eligibility and Self Employment Taxes. Websites, online reports, and using the Electronic Federal Tax Payment System will be discussed and how it relates to your business.

 Workshop instructor is Virgel Conner, counselor for the KCSBDC.  Seating is limited and early registration is recommended.  To register and to receive more information on this and all SBDC training programs, call the SBDC at (903) 757-5857 or (800) 338-7232.  Visit our website at www.KilgoreSBDC.comor follow us on Facebook and Twitter #KCSBDC.