Life happens, however, payroll must go on. Are you ready for year end? Here is a helpful checklist to ensure you are ready for the W2 and 1099 reporting coming your way soon:
• Employee profiles: Are you up to date? Ask employees to verify their information.
• Employee documents: Avoid Fines. Important documents are Federal Forms W-4, I-9, and state tax forms in your area. Find the Federal forms you need on the IRS website.
• Payroll Items: Look through items in your Payroll Item List and make sure all of them have the right tax tracking type.
• Bonuses, reimbursements, and deductions: Review Now. You only have until December 31st to make sure these amounts will appear on employees’ 2014 W-2 forms.
Do you hire 1099 Contractors? Make sure to secure a W9 from all service/provider Vendors, if not a Corporation, if you have paid them over $600.00in a calendar year. If they do not provide W9, you need to withhold taxes from their payment.
MJB’s Bookkeeping Solutions is proud to have served up solutions for your accounting and bookkeeping needs over the past several years, and we are looking forward to serving you for many years to come! Inside This Issue…
7 Habits of Successful People
Three Common Overspending Triggers
Wisdom from Thomas Jefferson
The Genius vs The Idiot
What are you putting constantly touching that’s 10X dirtier than a toilet?
Enjoy this final Money Matters Monthly edition, and freely forward as appropriate. In future months we will be looking for innovative ways to connect and offer tips for your success in managing your finances.In the meantime, receive periodic Bookkeeping and QuickBooks updates byclicking here.