Published on February 20, 2014
5 Tips for Setting Up a New Company’s Payroll Start Your Payroll on the Right Track
Tip #1 Get an Employer Identification Number (EIN) Contact the IRS
Tip #2 Check State and Local Tax Laws Some Require an ID to Process Taxes Ask About Local Taxes Know Your Tax Rate for State Unemployment Insurance (SUI)
Tip #3 Ensure Employee Paperwork is Complete Have Employees Complete an I-9 and a W-4
Tip #4 Choose a Pay Period. Common Types: Weekly Bi-Weekly Monthly Once Chosen it’s Difficult to Change
Tip #5 Consider a Payroll Provider. Here’s Why: Payroll Taxes are Complicated Calculating Payroll Takes Time Mistakes can be Costly Payroll is Probably Not Your Specialty Focus on Growing Your Business
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