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SE WA | I hired my first employee, beginning of 2024. Currently using Quickbooks Desktop 2022 for all my recordkeeping, however like most, did not want to pay the absurd rates for upgrades and payroll. Google searches led me to Gusto and away I went. I am happy with the service. Time tracking, payments, taxes, and customer support has all been seamless and easy. I manually enter all Gusto transactions into Quickbooks, including itemizing taxes and stuff.
My only issue, if it is an issue, is Gusto does not file 943's. In Gusto, and now according to the IRS, I am listed as a 941 employer. Gusto has taken care of paying all federal taxes and submitting quarterly 941 reports on my behalf. I spoke with an IRS help lady today, and she didn't seem very concerned. She said I do not need to file a 943 for 2024, I just have to write a letter to the IRS requesting they change my filing status to a 943 employer, and go on with my life.
Couple questions:
1) Gusto does not do 943s. Do any farmers use Gusto, Gusto pays all federal taxes, then the farmer (employer) files 943s by themselves?
2) A neighboring farmer has 5 to 7 employees depending on the season and uses Gusto. I spoke to him about this, and he had no idea. His accountant set Gusto up for him, and he simply uses it. He checked his Gusto account, and he has been listed as a 941 employer for all 7 years he has had employees. No letters from the IRS. No problems at all. Are there any legal issues with this? Any worst case scenarios to worry about?
I like Gusto. I want to keep using it. But, I also want to do business the correct way. If there's no real issue staying classified as a 941 employer, I'll just do that. If I really have to change my status to a 943, and file 943 reports myself, I can do that as well, as long as Gusto can keep paying taxes on my behalf without issue. But, if Gusto cannot pay taxes if I'm listed as a 943, I have no use for Gusto and need to explore other options.
Thanks for any help. | |
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Gusto and 941/943
