It’s Time to Run Payroll!

Depending on state laws, you can use the same payroll schedule as before, or make a change. The most popular options are listed below but it will be important to ensure compliance with state pay frequency laws: – Weekly – Bi-weekly – Semi-monthly – Monthly

How will you pay your employees? Direct deposit Paper check

It’s Time to Run Payroll!

Once your new payroll provider has all of the required information, they can begin to run payroll on your behalf. When closing your previous payroll account, make sure you save and transfer all payroll and employee records, including: Year-to-date gross pay and prior state and federal tax filings for all employees Current and previous employees’ addresses, social security numbers, and year-to-date gross pay and tax information to make sure W-2s are correct Copies of payroll tax payments and filings made on your behalf for the company

It’s Time to Run Payroll!

If you switch providers in the middle of a quarter, verify with your previous provider which tax payments and filings they will be making on your behalf. They should refund you any quarterly taxes collected but not submitted to the IRS or state. They should also pay any federal and state income taxes already collected.

It’s Time to Run Payroll!

If you switch providers in the middle of a quarter, verify with your previous provider which tax payments and filings they will be making on your behalf. They should refund you any quarterly taxes collected but not submitted to the IRS or state. They should also pay any federal and state income taxes already collected.

It’s Time to Run Payroll!

While it may seem like your payroll is out of sight, out of mind, you still have some responsibilities. Most importantly, you want to regularly check for accuracy regarding the following withholdings and deductions from employee paychecks: ✓ Federal income tax ✓ State tax ✓ Local tax ✓ Medicare and Social Security taxes  ✓Other deductions, such as those for retirement plans and insurance

TAKE ACTION TODAY! info@SimplifiedPB.com Tel: 737-931-1413 Fax: 512-717-9517

It’s Time to Run Payroll!

You should also regularly review the following employer taxes: ✓ Social Security and Medicare ✓ State Unemployment Insurance ✓ Federal Unemployment Tax Act taxes

With the help of your payroll provider, you’re also required to make the following federal and state tax deposits and filings: ✓ Form 940 (Federal) ✓ Form 940 (Federal) ✓ Form 943 (Federal - Agriculture) ✓ Form 944 (Federal) ✓ State forms (depending on your state)

Lastly, here are some of the  year-end documents  that come into play: – 1099 – 1096 – W-2 – W-3 – State annual reconciliations With online technology, this guide, and a payroll provider that offers transition support, it’s easier than ever to switch providers.

By choosing the right provider this time around, you can be confident in the service you’ll receive in the future.

For more inquiries, you may contact us at  737-931-1413  Fax: 512-717-9517 or email us at  info@SimplifiedPB.com.