Every small business makes payments to operate. Some of these payments must be reported to the IRS or Social Security Administration (SSA). Companies must use information returns to report qualifying payments. Do you need to file an information return?
Read More What Is an Information Return, and Why Your Small Business May Need to File OnePayroll Reports Articles
Payroll Reports - Tips, Training, and News
With This Guide, You’ll Be Reading and Understanding Form W-2 Like a Pro
Running your business? You’re a pro. Understanding Form W-2? Probably not so much. But when you have employees, you’re responsible for withholding taxes from their employees’ wages and reporting the amount to the government. Not to mention, employees need Form W-2 to file their individual tax returns.
Read More With This Guide, You’ll Be Reading and Understanding Form W-2 Like a Pro
Can a Tip Reporting Sheet Simplify Your Life? Yes! Here’s How.
Do some or all of your staff make a good deal of their income off of tips? Wait staff, bartenders, and taxi drivers depend on tip income. Just like wages, tips have a few tax-related requirements that come with them. If your employees make more than $20 per month in tips, you may wonder how […]
Read More Can a Tip Reporting Sheet Simplify Your Life? Yes! Here’s How.
Ohio Form W-2 School District Reporting: How to Report School District Income Taxes
If you have an employee in Ohio, you need to include the Ohio school district number on Form W-2. The Ohio Department of Taxation is requiring this change to help reduce the number of reporting errors on individual income tax returns. Read on to learn more about this requirement.
Read More Ohio Form W-2 School District Reporting: How to Report School District Income Taxes
How to Fill Out Form 940 the Right Way
When the clock strikes midnight on new year’s, bam! It’s about time to complete Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return. The FUTA tax return differs from other employment tax forms in a few ways. So, how to fill out a 940 tax form also differs. Learn how to fill out Form 940 […]
Read More How to Fill Out Form 940 the Right Way
Reporting COVID Pay on W-2 2021 [+ Deferred Social Security Tax You’ve Collected]
Changes to W-2 reporting for tax year 2021? You can thank COVID-19, again. Read on to learn about reporting COVID pay on W-2 2021. And if you collected deferred employee Social Security tax, you need to know how to report that, too.
Read More Reporting COVID Pay on W-2 2021 [+ Deferred Social Security Tax You’ve Collected]
What Is IRS Form 5884-A for the Employee Retention Credit?
Has your business experienced a disaster (e.g., tornado, hurricane, etc.)? If so, you may be eligible for the employee retention credit. But to claim the credit, you need to fill out Form 5884-A. Read up on credit eligibility, how Form 5884-A works, and how to fill one out for your business when a qualified disaster […]
Read More What Is IRS Form 5884-A for the Employee Retention Credit?
Ease Your Tax Burden: An In-depth Guide on Employment Tax Returns
Employer responsibilities are countless, and taxes are arguably the most important. You need to know which taxes to calculate and withhold from employees, how much to contribute as an employer, how to file employee taxes, and more.
Read More Ease Your Tax Burden: An In-depth Guide on Employment Tax Returns
When Are Federal Payroll Taxes Due? Federal Due Dates to Know
Withholding, remitting, and reporting payroll taxes are all a necessary part of being an employer. A big part of the responsibility of remitting these taxes is knowing when to pay them. After all, you don’t want to receive a letter from the IRS saying you missed a deadline.
Read More When Are Federal Payroll Taxes Due? Federal Due Dates to Know
What Should Your Employee Payroll Records Include?
As a business owner, part of the job is managing a lot of different records. From tax records to accounting records, it can be quite a bit to keep up with. And when you hire employees and become an employer, it adds employee payroll records into the mix. Read on to learn all about payroll […]
Read More What Should Your Employee Payroll Records Include?
