As we approach the end of the year, payroll processing becomes a major responsibility. You need to calculate taxes, compensation, and any deductions to be withheld. It can be a bit complex, and mistakes are common. 

And the beginning and end of each year, there are some payroll tasks that must be completed. Doing these correctly will make sure you reduce the chance for errors. In today’s post, we’re going to list those tasks, so that you can prepare your payroll for end of year tax season.

  1. Keep employee info accurate and updated. You will need to confirm the legal name, place of residence, and social security number of each employee. Any piece of incorrect information can lead to penalties. 
  2. Make sure all payments have been properly recorded. Confirm that all cash and non-cash income has recorded and taxed properly so it is reported on Form W-2. 
  3. Verify that all  wages, benefits, and deductions are accurate. Confirm you have the correct pay rate for each employee. Make sure their deductions are correct, and make sure you’re withholding the correct amount (which is especially important if you’re required to withhold wages due to child support). 

Handling end of year payroll can be a headache for some, and if you do it incorrectly you risk penalties and other issues. By hiring Primary Payroll your end of year taxes become a breeze, and you’ll have the freedom to focus on other areas of your business. Contact us to learn more. 

About

With over 20 years of experience in the industry, we’ve combined the best established processes and latest technology to make your payroll experience with us seamless and reliable. More...

Contact

1400 East 29th Street
Signal Hill, CA 90755

Phone: 562-595-0066
Fax: 562-595-0088

This email address is being protected from spambots. You need JavaScript enabled to view it.

Connect with us

We are social and want to stay in touch with you on the platform you prefer most.

E-mail newsletter Sign-Up

Join Our Email List
SSL Certificates