Finance

Have finance questions? Ask a financial expert online.

Ask an Expert,
Get an Answer ASAP!

Have a question i have one of my clients that open a

Customer Question
restaurant in Sep 2015 but...
have a question i have one of my clients that open a restaurant in Sep 2015 but never pay the payroll taxes , and she wants to issue W2 to the employees , my questions its what do i need to do to help her and if you guys know any website where i can file electronically the forms like the 941 forms and also the W2, please advise.
Submitted: 2 years ago.Category: Finance
Show More
Show Less
Ask Your Own Finance Question
Answered in 43 minutes by:
1/30/2016
Financial Professional: Mark D, Enrolled Agent replied 2 years ago
Mark D
Mark D, Enrolled Agent
Category: Finance
Satisfied Customers: 1,342
Experience: MBA, EA, Specializing in Business and Individual Tax Returns and Issues
Verified

Did she actually give pay stubs and withhold taxes from the paychecks?

Ask Your Own Finance Question
Customer reply replied 2 years ago
she did but did not report the payroll taxes to the irs what can we do now ?
Financial Professional: Mark D, Enrolled Agent replied 2 years ago

You should file the Q3 and Q4 941s, and the 2015 940 with the IRS, reflecting the amount due. Q4 and the 940 are due Monday.

You also need to issue W2s to all employees by Monday, and file with the SSA by 2/29 (if by paper) or 3/31 (if electronic).

Any state filings should be filed as well.

If you client cannot pay the balance, attempt to set up an installment agreement after the returns are processed.

Ask Your Own Finance Question
Customer reply replied 2 years ago
what are those forms or where can i find them is there a website to file electronically
Financial Professional: Mark D, Enrolled Agent replied 2 years ago

What state are you in and how many employees?

Ask Your Own Finance Question
Customer reply replied 2 years ago
6 employees state nc
Financial Professional: Mark D, Enrolled Agent replied 2 years ago

I see. To efile the 941s and 940, you need to register. This would not happen before Monday so I would suggest you paper file. Likely the same with the W3/W2s. Below are links to the forms and instructions. You may want to pay a local tax pro to do it for you. I am not familiar with NC state payroll taxes, but am including a link below. Please let me know if this solves your question.

https://www.irs.gov/pub/irs-pdf/f941.pdf

https://www.irs.gov/pub/irs-pdf/i941.pdf

https://www.irs.gov/pub/irs-pdf/f940.pdf

https://www.irs.gov/pub/irs-pdf/i940.pdf

http://www.payroll-taxes.com/state-tax/north-carolina

Ask Your Own Finance Question
Financial Professional: Mark D, Enrolled Agent replied 2 years ago

Here is a service that offers to efile the W2s

http://www.efile4biz.com/?gclid=CO7K8Pa40MoCFQZsfgodsBELmA

Ask Your Own Finance Question
Financial Professional: Mark D, Enrolled Agent replied 2 years ago

Hello, please rate to close out this request, this is also how I get paid. Thank you!

Ask Your Own Finance Question
Was this answer helpful?
Ask Mark D Your Own Question
Mark D
Mark D
Mark D, Enrolled Agent
Category: Finance
Satisfied Customers: 1,342
1,342 Satisfied Customers
Experience: MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Mark D is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Rakhi Vasavada

Rakhi Vasavada

Financial and Legal Consultant

2,608 satisfied customers

Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years

Megan C

Megan C

Certified Public Accountant (CPA)

2,218 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

Manal Elkhoshkhany

Manal Elkhoshkhany

Tutor

1,920 satisfied customers

More than 5000 online tutoring sessions.

JKCPA

JKCPA

CPA

844 satisfied customers

Bachelors degree and CPA with Accounting experience.

Eric

Eric

Financial Manager

559 satisfied customers

Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.

R. Klein, EA

R. Klein, EA

Accountant

480 satisfied customers

TurboTax Expert. QuickBooks Certified Pro Advisor

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

332 satisfied customers

NASD Licensed Rep, 1997-2001, Business Attorney

< Previous | Next >

Related Finance Questions
If you do not intend to address all my concerns do not
Please if you do not intend to address all my concerns do not answer & refund me. I have asked for advice on this same topic three times and get no real answer. Here is the question once more... "Firs… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
I have $250K tax free funds to invest. This sum is currently
I have $250K tax free funds to invest. This sum is currently at a Wells Fargo bank. Where is the best place to move it for a time as I determine where to spread it on investments? Should I move it to … read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,196 satisfied customers
I own a staffing agency and I want to ensure I'm paying my
I own a staffing agency and I want to ensure I'm paying my employees properly with the new salary minimums. I believe 50k is the new minimum salary. If I pay recruiters commissions on top of base, can… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
I was recently offered a job that is 10000 less a year than
I was recently offered a job that is 10000 less a year than what I make now. The new job would be exactly what I'm looking for in terms of moving up and experience however there's a big gap financiall… read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,109 satisfied customers
I am thinking about selling my car. It needs maintenance. Is
Hello!I am thinking about selling my car. It needs maintenance. Is it better to let it repair and then try selling it, or the other way round?… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
I just have a hypothetical question for you. Lets say if you
Yes, lets say if you have an income of about 96000 a year what can you qualify for … read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,196 satisfied customers
Can I take a loss on a truck depreciation of 60,000 for an
Can I take a loss on a truck depreciation of 60,000 for an s-corp on a K1? Or, am I only able to deduct the up to the actual income?… read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,196 satisfied customers
How much does a forensic accountant cost for a divorce case?
How much does a forensic accountant cost for a divorce case? I would basically be trying to recover an additional 60-100k. I'm trying to see if it's worth it.… read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,109 satisfied customers
I deposited a check for $30,000 given as a gift from my
I deposited a check for $30,000 given as a gift from my mother without her or my understanding the limit of the annual gift tax exclusion. What I would like to do is rework this by refunding her the t… read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,196 satisfied customers
Deceased Grandma's Will/Trust atty states, I, as Trustee,
Deceased Grandma's Will/Trust atty states, I, as Trustee, can distribute the 1/3 shares to the 3 beneficiaries after the home's Estate Sale completes and the sale numbers are in to be added to the fin… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
Just Browsing here s little info on APPLY FOR HELOC AND ARE
Hello just Browsing here s little info on APPLY FOR HELOC AND ARE CURRENT SITUATION MY HUSBAND I HAVE BAD CREDIT DUE TO UNEXPECTED BACK DUECHILD SUPPORT PAYMENTS SO OWING TO THE STATE ITAUTOMAYICALLY … read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,196 satisfied customers
First of all the company (partner owns not business partner)
First of all the company (partner owns not business partner) I work for considers me self-employed and my profession is Leasing Agent. I filed 2013 taxes, and I accidentally misunderstood the tax form… read more
taxmanrog
taxmanrog
Master\u0027s Degree
935 satisfied customers
We are relocating for work, and will be putting our home up
we are relocating for work, and will be putting our home up for sale. We also need to buy a home where we are moving. We also own a rental property that has a lot of equity. Since the move is happenin… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,026 satisfied customers
If a customer gives me an item (such as a duffel bag) and I
hi, if a customer gives me an item (such as a duffel bag) and I produce an HTV design that I heat transfer onto the bag and sell to her. does michigan sales tax apply, or is it purely a service … read more
TaxRobin
TaxRobin
Vocational, Technical or Trade School
1 satisfied customers
I am an independent process server. I am able to charge
I am an independent process server. I am able to charge clients for mileage up to 75 miles per time I work with them (state law only allows me to charge for a max of 75 miles). I also charge more than… read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,196 satisfied customers
This is an investment question. My wife and I are 78 and in
This is an investment question. My wife and I are 78 and in good health.We have enough money in our portfolio to last 20 years if we can earn 4% pretax each year. We are now 30/70 in equities and bond… read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
2,196 satisfied customers
I am looking to build a chart of accounts for a restaurant
I am looking to build a chart of accounts for a restaurant that strictly delivers what would be needed for tax purposes. What accounts would be necessary to properly break out the expenses and revenue… read more
Tax.appeal.168
Tax.appeal.168
Principal
13 satisfied customers
If I'm a us citizen and made money in the I'm is there a way
If I'm a us citizen and made money in the I'm is there a way to open a I'm bank account and loan the money to myself to avoid the 40% taxes the us charges to bring over other currencies… read more
Barbara
Barbara
Enrolled Agent, Paralegal
5,109 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x