This Step-by-Step instruction on completing Form 941 (Quarterly Payroll Tax Return) for an S corporation with one shareholder employee. <br /><br />Employers file Form 941 to report company payroll, which includes wages, social security taxes, Medicare taxes, federal income tax withholding, and any available payroll tax credits and payments.<br /><br />In this example, we look at a Form 941 filing for the 4th quarter ending December 31, 2024. The company already filed its 1st, 2nd & 3rd Quarter Forms 941. The company is a Florida S corporation with one shareholder-employee. His wages must also include the amount of his shareholder health insurance paid by the S corporation. <br /><br />During the 4th quarter, the shareholder changed his monthly pay from the prior periods. In this example, we show the relevant adjustments and recalculations.<br /><br />1st Quarter Form 941: <a href="https://youtu.be/vtum4T_M2b0" target="_blank" rel="nofollow">https://youtu.be/vtum4T_M2b0</a><br />2nd Quarter Form 941: <a href="https://youtu.be/ZG5QKsj23b0" target="_blank" rel="nofollow">https://youtu.be/ZG5QKsj23b0</a><br />3rd Quarter Form 941: <a href="https://youtu.be/g8WFknO1_8Y" target="_blank" rel="nofollow">https://youtu.be/g8WFknO1_8Y</a><br /><br />How to Deduct Shareholder Health Insurance: <a href="https://youtu.be/eX4HcEvEtk8" target="_blank" rel="nofollow">https://youtu.be/eX4HcEvEtk8</a><br />IRS Form 7206 Tutorial: <a href="https://youtu.be/OylH0nRswWQ" target="_blank" rel="nofollow">https://youtu.be/OylH0nRswWQ</a><br /><br />For a larger database of tutorials, please visit our website and search for your question:<br /><a href="https://knottlearning.com/" target="_blank" rel="nofollow">https://knottlearning.com/</a><br /><br />DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials.<br /><br />#Form941 #PayrollTax #payroll<br />...<br /><a href="https://www.youtube.com/watch?v=ewkb6dUnH6A" target="_blank" rel="nofollow">https://www.youtube.com/watch?v=ewkb6dUnH6A</a>