Final answer:
QuickBooks can calculate employer payroll taxes and prepare reports needed for manual filing and payment to the tax authorities for Joaquin who hasn't switched to online tax services. It also helps with corporate income tax and individual income tax calculations.
Step-by-step explanation:
If Joaquin has not yet switched to online services with tax authorities, QuickBooks can still handle his employer payroll taxes effectively. The software is designed to calculate the correct amount of payroll taxes that need to be withheld from employees' paychecks, such as federal income tax, state income tax, and contributions to Social Security and Medicare (FICA). QuickBooks will also compile the necessary reports and forms that Joaquin would need to file with the appropriate tax agencies. However, Joaquin will have to manually send these tax payments and filings to the tax authorities since he is not utilizing online services for this purpose.
When it's time for Joaquin to pay his own income tax, QuickBooks can assist in determining the amount of corporate income tax he owes based on his business's profits, as well as the individual income tax on his salary. As an employer, he is responsible for paying the payroll tax taken out of the wages he pays himself and his employees, and QuickBooks will help him ensure that these amounts are accurate.