In the state of California there is a state payroll tax report that must be filed quarterly called a DE6 on which “subject wages” (those subject to State Disability Insurance tax) and PIT (Personal Income Tax) Withholding. This report can be several pages long. Many employers are required to or chose to file these reports electronically through EDD’s (Employment Development Department) website. If you file through the site you have the option each quarter of pre-populating the new report with the individual employee information from the last quarter (without the earnings data, of course) or filling in all the information again manually. This option makes filing out the new report a little quicker for larger companies with little turnover.
In addition to the DE6 which must be filed on a quarterly basis, there is also a DE7 (annual reconciliation) which must be filed at the end of the year. The DE7 recaps the aggregate totals for the year for wages reported on the DE6 reports as well as calculates the total State Disability Insurance, unemployment insurance and employment training tax (if any) liabilities accrued throughout the year. There is also a section to total the tax deposits made throughout the year. Unfortunately, this report has to be mailed in as there is no electronic filing option for it.
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About The Author
Tena L. Chase has over two decades of experience directing financial accounting and business management in a variety of industries. Her work has resulted in significant savings and increased profitability for her clients. She is skilled at ensuring strict adherence to governing polices, regulations, and standards and she has an unwavering commitment to help her clients achieve strong financial performance while upholding the highest ethical standards of the accounting profession.
Highlights of Work Accomplished for Past Clients include:
* Identified more than $500,000 in assets that had been inadvertently written off; added assets to balance sheet and notified tax accountant of changes.
* Discovered and corrected $100,000 in overstated expense and liabilities, resulting in increased net income and owner equity.
* Recommended and set up credit card processing and created Web site to establish organization’s online presence.
* Streamlined billing and accounts payable functions, requiring less time and making information more accessible.
* Increased employee benefits at no additional cost to the employer, while saving the company time and money in benefits administration.
Tena is Licensed by the NACPB as a Certified Public Bookkeeper (CPB) and an Intuit Certified QuickBooks ProAdvisor. She holds a Bachelor of Arts degree in Strategic Management from Dominican University of California, a Bachelor of Science degree in Business Administration from Capella University, and three Associate of Science degrees in business from Mendocino College (Accounting; Small Business Management; Business Administration.) Tena was included in the
2009 edition of Stanford Who's Who. Want more information? www.tlcbusinesssolutions.com/tena.html
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