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QuickBooks 2013 For Dummies by Stephen L. Nelson, MBA, CPA

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Preparing Quarterly Payroll Tax Returns

At the end of every quarter, you need to file a quarterly payroll tax return. (By quarters here, I refer to calendar quarters.) If you’re a business owner, for example, you must file a Form 941, which states how much you paid in gross wages, how much you withheld in federal taxes, and how much you owe for employer payroll taxes for the quarter.

You’ll find that QuickBooks makes filling out these forms darn simple.

warning_bomb.eps If you have household employees, such as a nanny, you must file a Form 942. Again, you fill out Form 942 to list how much you paid in gross wages, withheld in federal taxes, and owe in payroll taxes. Unfortunately, QuickBooks doesn’t do a 942 for you. Apparently, it thinks you don’t need domestic help.

tip.eps If your accountant fills out Form 941 or 942 for you, you don’t need to read this section of this chapter. Your accountant won’t have any problem completing the quarterly payroll tax return by using the QuickBooks Payroll report, and in fact — I kid you not — your accountant will probably even enjoy doing it.

Using the QuickBooks full-meal-deal Payroll service

If you’re using either the top-of-the-line QuickBooks Payroll service — what Intuit calls Assisted Payroll and Full Service Payroll — the service fills out and sends the quarterly ...

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