fed tax paid for employees

[aplowh]

How do I account for the fed taxes and other expenses relayed to employees on my taxes?

[Vanessa A]

Are you filing a Schedule C as an Independent contractor or Single Member LLC?  If so, you will take the following steps to enter the expenses related to your employees.

To enter your self-employment income click the following:

1. Federal
2. Income and Expenses
3. Show More next to Self-Employment
4. Start next to Self-Employment
5. Yes, to you have any self-employment income or expenses
6. Enter the type of self-employment work you do and you can select that you use your name for your business
7. Click through a few more screens and you will get to a screen that says "Your XX info"
8. Click Looks good
9. Then you will come to a screen that says Let's enter the income for your business.  It will give you the option of 1099-NEC or Other self-employed income including the 1099K , cash and checks.  Here is where you will enter your 1099
10. If you do not select one, it will not let you enter your income
11. Enter your self-employment income on the next screen
12. Continue and on the next screen click add expenses
13. You MUST have entered that you have employees on the original screen setting up your business info, if you did not do this, go back and do this
14. Click Employee Expenses
15. Walk through to add your employee wages paid and benefits.
16. Then go back and click Taxes and Licenses and add the payroll taxes you pay for the employees here

Please note, federal taxes you paid (Other than YOUR share of the FICA taxes are NOT YOUR deduction) The federal taxes you withhold and pay in for your employees are accounted for in the wages you pay your employees.  

If you are a multimember LLC, you will take similar steps using TurboTax Business.  Again, you will need to say in the start up part that you have employees, then when you get to the expense section, you will add their wages and benefits and then in the taxes in licenses section, you will add your share of the payroll taxes. 

Video: Tax Deductions for Employment Related Expenses

[aplowh]

Thank you! That was what I was looking for.