topic 940 Federal Unemployment tax in Get your taxes done using TurboTax

940 Federal Unemployment tax

spuello — Fri, 17 Jan 2025 22:14:56 GMT

I do some consulting at home using an LLC. My wife helps and I file federal, social security and medicare taxes. Additionally since we live in Florida, I pay Florida reemployment tax. I had read somewhere that in my situation, we would not have to pay federal unemployment and file 940 forms. Turbotax sent me a reminder this year which made me realize may be I have to?

Can someone please clarify this for me.

Thank you,

SPuello

Re: 940 Federal Unemployment tax

DaveF1006 — Mon, 20 Jan 2025 18:57:16 GMT

No, according to the IRS, you do not need to pay FUTA if your wife is your only employee. Please disregard the Turbo Tax reminder as it was only reminding you that you may need to file Form 940.

Tax Treatment for Family members

Re: 940 Federal Unemployment tax

spuello — Mon, 20 Jan 2025 23:04:38 GMT

Thank you very kindly for your kindness and taking the time to research. 😊