Does Payroll Software Offer a Built-In Payroll Calendar and Reminders for Key Payroll Dates?
Payroll software offers automation for any payment deadlines, but a built-in payroll calendar and reminders for key payroll dates is less common. Use a few helpful strategies to ensure that your small business does not file forms late or miss filing for employment tax deadlines all-together. Share deadline dates with employees. Provide employees with […]
Does Payroll Software Support Electronic Filing of Payroll Taxes?
Yes, payroll software supports electronic filing of payroll taxes. Businesses of any size or type should look for payroll software that integrates with accounting and e-filer software programs. E-Filer software can produce a business’s required W-2 and 1099 files for the Internal Revenue Service and the Social Security Administration. Create your business’s state W-2 files […]
How Do I Report Income from Employee Nonqualified Deferred Compensation on a W2?
Report any income from employee nonqualified deferred compensation in Box 11 “Nonqualified Plans” on a W2 form. You must report the income for an employee on Form W2 regardless of whether the individual is still an employee at your company. Unsure about how your business benefits from giving your employees a nonqualified plan? The plans […]
How Do I Report Income from Employee Meal or Lodging Benefits on a W-2 Form?
Report taxable income from employee meal or lodging benefits as wages on a W-2 form. Treat income from employee meal or lodging benefits each as per diem expenses. All employers must report to the Internal Revenue Service in their tax returns how much per diem the business paid to its employees. Keep in mind that […]
How Do I Report Income from Employee Cell Phone or Internet Usage on a W-2 Form?
Employers generally do not report income from employee cell phone or internet usage on a W-2 form. Independent contractors often claim more tax deductions than traditional W-2 workers. W-2 employees who work from home do not have tax-deductible internet bills. Your employees may ask under these circumstances about reimbursement opportunities, like a work-from-home stipend. Did […]
Can I File a W-2 Form for Payments Made to a Foreign Employee Working Remotely?
Yes, employers can file a W-2 form for payments that they make to a foreign employee working remotely for their business. You legally must withhold taxes and report it for all W-2 employees. Apply that requirement to remote workers and withhold taxes on an employee’s behalf based on the employee’s country of residence. Make sure […]
Can Payroll Software Handle Different Payment Frequencies?
Yes, comprehensive payroll software can handle different payment frequencies, such as weekly, bi-weekly, or monthly cycles. Look for a payroll system that is both scalable and flexible for your business’s unique needs. It should accommodate growth and allow you to adjust frequencies if you pay both independent contractors and traditional employees. A payroll management system […]
How Do I Report Income from a Landscaping Service on a 1099 Form?
Report income from a landscaping service on Form 1099-NEC. You must issue a 1099 form to a landscaping service that your business paid $600 or more for their services in a tax year. Do not issue the form to a business that is incorporated. Request a Form W-9 from a business that you hire to […]
How Do I Report Income from Jury Duty on a W-2 Form?
Report your employee’s income from jury duty in Box 1 “Wages, Tips, and Other Compensation” on a W-2 form. Employers must report additional income that they pay to an employee and send a Form W-2 to the worker by Jan. 31 for the previous tax year. Complete your filing duties so that all of your […]
How Do I Report Income from a Freelance Blogger on a 1099 Form?
Complete a Form 1099-NEC to report specific income that you paid to a freelance blogger in the previous tax year. Use the form if you made payments that amount to $600 or more for the year. Send copies of the 1099 form to the Internal Revenue Service and each applicable independent contractor by Jan. 31 […]