Setting up a Payroll System for Your Business

By this time, you can tell that keeping track of payroll tax reporting and payments requires careful attention to detail. Setting up a yearly payroll tax calendar can help you avoid fines and penalties and keep you on track. Even if you have a CPA or bookkeeping service do your payroll taxes, you need to know when these taxes and reports are due.

The IRS has a small business tax calendar that you can use as a starting point for your calendar.

Index: Setting up a Payroll System for Your Business

1. Understanding Your Responsibilities as an Employer
2. Understanding the Types of Employment Taxes
3. Make Decisions on How and When to Pay Employees
4. Decide Who Will Do Your Payroll Work
5. Determine the Paperwork Needed for New Hires
6. Calculate Pay for Hourly and Salaried Employees
7. Create a Payroll Register and Set Aside Payroll Liabilities
8. Provide Payroll Tax Reports to Taxing Authorities
9. Submit Payroll Taxes to Taxing Authorities
10. Set Up a Yearly Payroll Tax Calendar