Year End Payroll Reminders

In addition to tax planning, December is also the time to complete year-end payroll tasks and prepare for the new payroll year. Here are a few reminders:

• Remind employees to make changes in information before the end of the year on their W-4 forms.
  
  
• Place your order for W-2 forms for employees and 1099 forms for independent contractors. If you have a payroll service, make sure they have everything they need to prepare theese forms at the beginning of January. Remember that the forms must be sent to employees and contractors by the end of January
  
  
• Verify your employees’ names and Social Security Numbers (SSNs) at http://www.ssa.gov/employer/ssnv.htm.

The American Payroll Association has webinars available to walk you through these year-end and first-of-the-year processes. Webinar #1 is $219 for non-members, $159 for members.