Forums: Discussions for entrepreneurs and small business.

Ok I have a question, I got this form in the mail 941 and I had a question about it. I just started my business, so I don`t have any employees yet...do I need to fill it out?

The documentation is a little confusing, but am I right in interpreting the "file initial form for the quarter in which you first paid wages" that I don`t need to fill anything out until I hire employees? 

Thomor,
It all depends what you checked off on Form 940. On form 940 there was a box, on the top right corners that asked : Type of return: If you checked box "C", then you shouldn`t have to worry about Form 941 since you didn`t pay any employees.
But if you mistakenly did, then I would consult with an accountant..




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Edgar Monroy
Web Developer / Owner / Consultant
When starting your own business the need to "know-how" is greater than money!
http://www.nuevolution.net

Never filled out form 940 either. From looking it up, it seems like a year end form for unemployment, so I probably won`t get that form till the end of the year.

Are you paying yourself a salary, taking ss/medi and withholding?  If so, you need to file forms 940 & 941.  If you are taking only distributions, they don`t worry about filing these forms. 

As soon as you have one non-1099 employee, you will be responsible for filing both & remitting $$ to the feds as well.

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Denise Armstrong, President - Intelligence & Investigative Solutions, Inc.
www.iis-fl.com ~ darm@iis-fl.com