Started a small business(LLC) in Oct 2017-1 employee only.. works around 22 hrs/month & i pay the wages monthly.straight paycheck. should i have to file form 940 or 941?

Started a small business(LLC) in Oct 2017-employed just 1 employee only..

Employee just works around 22 hrs/month

& i pay the wages monthly

no benefits(401K or Medical/Dental/Vision/Pharma insurance)

Deductions like federal income tax, social security, medicare are done in the pay check. Also federal and state unemployment tax(from the employer not employee is deducted). As employer as well as employee is in the state of texas - there is zero state income tax.

straight paycheck.

should i have to file form 940 or 941?

1279

Level 15

Jun 6, 2019 7:51:29 AM

A W-2 employee? Which state? (Some require that you pay more frequently than monthly). Why aren't you deducting Social Security and Medicare?

Level 2

Jun 6, 2019 7:51:31 AM

please see the edits - those are done.

Level 15

Jun 6, 2019 7:51:33 AM

https://www.irs.gov/faqs/small-business-self-employed-other-business/forms-940-941-and-944-employmen...

Level 2

Jun 6, 2019 7:51:35 AM

Thanks...as annual liability for social security, Medicare, and withheld federal income taxes is $1,000 or less for the year...i just need to do the form 944(annual rather than the quarterly 941). thanks

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Started a small business(LLC) in Oct 2017-1 employee only.. works around 22 hrs/month & i pay the wages monthly.straight paycheck. should i have to file form 940 or 941?