Paying Payroll taxes
1. Federal 941 taxes (social security, medicare, withholding) within
3 days after every payroll.
- Look in the first "payables" folder in Monica's right-hand desk drawer for
"tax payments report worksheet".
- Our 9-digit taxpayer identification number is "820435126"
- Our 4-digit PIN is found on an old copy of the form.
- Accept the default date and tax period. To calculate the tax payment amounts, in
the Cactus menu system, go to "Time", "Payroll", "941".
Make sure you have the dates right - the default is always wrong.
- Write the EFT number on the form.
- Go to the Cactus checkbook and enter the amounts for Social Security, Medicare and
Withholding, account "ptax". In the description for one of
these, enter the total amount to make balancing the checkbook easier.
2. Federal 940 taxes (federal unemployment) within one
month after the end of a quarter.
- Calculate them using the Cactus menu, "Time", Payroll", "940".
Check the dates.
- Pay them using the Tax Payment Report Worksheet in Monica's right-hand drawer (see
above).
3. State 950 (withholding) within 20 days after the end
of a month.
- There's a form in Monica's third "payables" folder, in the "taxes"
section. It looks like the Idaho sales tax payment form.
- Calculate the amount using the Cactus menu, "Time", Payroll", 940/950.
Make sure the dates are correct.
- Write a check and send it with the form to the address on the sticker.
- Enter the numbers from the form on the yearly tally sheet in the third pay folder.