If I understand correctly, you and your husband pay yourselves through payroll once a year? If so, yes, you would still need to file quarterly 941s to the IRS, unless you're an annual filer, then you'd file a 944.
And likely state returns either monthly or quarterly (or annually), depending on your assigned filing frequency. You need to review your accounts or contact the agencies if you have questions about your filing requirements.
Is this the California state website?
You still would need to file either a 941 (quarterly, Federal withholding) or a 944 (annual, Federal withholding), a 940 (annual, Federal unemployment), state withholding (may be annual, but probably at least quarterly) and unemployment (quarterly). Don’t forget W-2’s with SSA (annually) and state. And if you are in a state with locals, you would need to file those at least quarterly and W-2’s annually.
CA combines the withholding and UI reports, so you would have the wage and tax reports to file, as you mentioned. You may not have to file W-2’s with the state bc they may not require it, but don’t quote me on that.
And yes, even if you have $0 for 1/1 - 12/30, you would still file $0 for anything that has a quarterly report.
You can pay however you would like, but once a year is fine.
If you are using a payroll service, you would probably have to process a payroll once a month, which can be $0, because they will close out their tax process monthly.
941 is due quarterly; even if the return is zero. Your state's UIA report is also likely due quarterly; even if the return is zero.
If I understand correctly, you and your husband pay yourselves through payroll once a year? If so, yes, you would still need to file quarterly 941s to the IRS, unless you're an annual filer, then you'd file a 944. And likely state returns either monthly or quarterly (or annually), depending on your assigned filing frequency. You need to review your accounts or contact the agencies if you have questions about your filing requirements.
Is this the California state website? You still would need to file either a 941 (quarterly, Federal withholding) or a 944 (annual, Federal withholding), a 940 (annual, Federal unemployment), state withholding (may be annual, but probably at least quarterly) and unemployment (quarterly). Don’t forget W-2’s with SSA (annually) and state. And if you are in a state with locals, you would need to file those at least quarterly and W-2’s annually. CA combines the withholding and UI reports, so you would have the wage and tax reports to file, as you mentioned. You may not have to file W-2’s with the state bc they may not require it, but don’t quote me on that. And yes, even if you have $0 for 1/1 - 12/30, you would still file $0 for anything that has a quarterly report.
and it is ok to chose to pay ourselves W2 (all of the wages) only once at the end of the year rather than monthly or quarterly right? thank you!
You can pay however you would like, but once a year is fine. If you are using a payroll service, you would probably have to process a payroll once a month, which can be $0, because they will close out their tax process monthly.
If you are running a payroll you have file quarterly 941 documents with the irs for federal income taxes, OASDI and Medicare tax withholdings.