Payroll for one employee might sound simple, but it can be stressful to keep track of everything you need. Tax software helps keep one less task on your small business’s to-do list.
Do I Need to File Payroll For One Employee?
You will still file payroll taxes if your small business employs a single employee, even if it’s just yourself. Sole proprietors are still responsible for reporting to and filing with the IRS.
If you’re creating a small business, you might have a salary quite yet. Once you have a regular salary, you will send the correct deduction to the IRS and state tax authority usually once per quarter.
You must ensure you are compliant with tax requirements to maintain a viable business venture. Payroll software can help you save time and money even if you only have one person on your payroll.
Easy Data Transfers Save Time
Chances are, if you only have one employee, or the only person you’re paying is yourself, you don’t have much time on your hands. Running a small business means you wear many hats and you often end up doing tasks that take away from your main mission. When you use AMS tax software, you free up other parts of your day.
Invest in the ability to focus on your most important tasks by using AMS Payroll for one employee. You already have a lot on your plate. Human error is a huge threat to tax compliance. Choosing to do your taxes yourself could result in you making avoidable mistakes and costing your company time and money. AMS Payroll significantly reduces the potential for human error and provides you some peace of mind.
Since you are running payroll for one employee, it’s possible that you started doing payroll manually. AMS Payroll allows you to import data from QuickBooks, PeachTree, Excel and Tab Delimited Text files. This data export helps you make a smooth transition from manual payroll to payroll software.
This software exports data to the 1099 Forms Filer for year-end processing. AMS Payroll is one of several modules available for add-on to the W-2/1099 Forms Filer. You enter the data, and our tax software automatically calculates federal, state, and local payroll taxes. Whether the person you’re paying is an independent contractor or employee, the W-2/1099 Forms Filer generates all 1099, W-2, and related forms.
Tax Software for Your Company’s Future
Right now, you’re only paying one person, but you might hope to grow your company in the future. Your tax software should be able to support that dream. AMS Payroll can accommodate up to 9,999 employees per payer. When you decide to hire a new independent contractor or employee, the setup process will be easy on their end, as well. AMS makes tax software that is user-friendly for both the employer and the employee.
Using tax software saves you time paycheck-to-paycheck, but also year after year. AMS tax software stores employer and employee information securely to be used for each tax year. Once you make the initial data entry, you can then access that information whenever you need to, but you won’t need to enter it again.