Payroll tax liability is a huge reason why business owners end up hiring an attorney. They have trouble paying back their payroll tax loans, so the penalties pile up. Business owners can’t always handle these problems on their own, but there are ways for you to avoid payroll tax train wrecks.
Lead with the right post
As soon as you hire a new employee, get their documentation and tax information filled out correctly from day one. And don’t forget to issue their W-4, or Withholding Allowance Certificate.
Track time and PTO accruals accurately
It’s so important you have the right tools in place to ensure every hour your employees spend at work is accounted for, and that you can use their information in the future if questions arise.
Learn from the pros
TSheets is hosting a webinar for CPA Academy, featuring Eric L. Green, partner with Green & Sklarz, LLC in Connecticut and New York. He focuses on civil and criminal taxpayer representation.
The webinar is called “Payroll Tax Train Wreck: Resolving Your Client’s Payroll Tax Nightmare” and will feature expert tips and tricks on how to avoid and resolve the worst case payroll tax scenarios.
Interested in learning more about how to avoid or a payroll tax disaster? Check out the FREE webinar on Friday, November 3. We’ll see you there!