How to do Payroll for a Small Business – The Ultimate Guide


how to do payroll

Getting Started

Payroll is an essential component of every business, large and small. Once you have made the decision to hire your first employee or employees, it is inevitable that you know how to do payroll properly. However, the truth of the matter is, payroll processing is not as straightforward as you may wish it is. It comes with multiple components such as tax calculations and deductions. Proper processing of the payroll requires a sound understanding of all applicable Federal and State tax laws. All these can make your head spin while shifting your focus from what really matters – growing your business.

To get the burden off your shoulders, we have put together the following guide to help you understand how to do payroll and identify an intuitive payroll system for your small business. The guide comes with payroll’s best practices that will help any small or medium business make important decisions in critical areas like choosing the right payroll processing method, timekeeping system, payment method, understanding and filing payroll tax forms among other features. Continue reading

The Best Payroll Software for Small Business in 2019

payroll software for small business

If you are searching for the best payroll software for small business, this article will guide you in the right direction by helping you save time, money and effort in the long run.

Being a responsible small business owner, you must pay your employees accurately and in a timely manner. You should also file and remit payroll taxes accurately to the IRS without any delay.

Having an in-house payroll software will help you administer payroll with total control, and saves you time, money, and costly mistakes.

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ACA Deadlines, Penalties & Extension for 2019

aca deadlines

2019 has already started and employers will once again need to shift their focus to ACA compliance. As a responsible employer, you must know the ACA deadlines to stay compliant with the IRS mandate.

The Affordable Care Act requires everyone to be covered under a health-care plan and imposes certain coverage rules on health insurers. The law introduced three tax forms relevant to individuals, employers and health insurance providers.

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5 Reasons to Update Your CheckMark Payroll Software Now!

CheckMark payroll software

Every year payroll processing becomes more complicated with revised tax tables and new requirements from the IRS.  To pay your employees on time and ensure that taxes are filed accurately it is critical that you maintain up-to-date payroll software. Continue reading

W-2 Deadlines, Penalties, & Extension for 2019

Form W-2 is an annual payroll report that shows the amount of taxes withheld from the employees’ paycheck for the year and is used to file federal and state taxes.

As 2019 has already started, it is important for all the employers to issue Form W-2 to their employees without any delay so they can start preparing their annual tax returns. And, as an employer, you must also file copies of W-2s to the Social Security Administration (SSA), along with Form W-3 (a transmittal summarizing the W-2s); and state government so the governments can check tax returns for accuracy.

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1099 Deadlines, Penalties & State Filing Requirements for 2019

As 2019 has already started, it is important for all the employers to prepare and issue 1099s to the recipients, and file them to IRS responsibly without any delay.

1099 tax form, referred to as “Information Returns” by IRS, should be sent by the company to the independent contractors if it paid more than $600 to them in the year 2018. Since there are many types of 1099 forms, the common forms are 1099-MISC, 1099-INT, 1099-S, 1099-C, 1099 B, 1099-R and 1099-DIV.

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How to File 1099 MISC for Independent Contractor

how to file 1099 misc

Wondering how to file 1099 MISC? Filing 1099s is pretty straightforward if you know how to do it correctly i.e. according to the guidelines prescribed by the IRS. However, for your convenience, we have created this resourceful guide, which will show you exactly how to file 1099 MISC for independent contractors.

Table of Contents

What is Form 1099 MISC?
What are the Different 1099 Tax Forms?
Who is an Independent Contractor?
Do You Really Need to File 1099 MISC This Year?
Parts of 1099 MISC Forms
How to Fill Out 1099 Form?
Sample 1099 MISC Form
1099 MISC Form Filing Deadlines
Penalties for Late Filing
How to Save Time & Money Filing 1099 MISC?
What Not to Report on Form 1099 MISC?
1099 Tax Tips for Employers

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2019 CheckMark Software Updates Have Arrived!

2019 software updates

CheckMark is pleased to announce the release of 2019 updates for all of our software products. We are committed to bringing you new ways to make the most of your time with features that will change the way you manage payroll, accounting and other business functions.

These updates improve the functionality and reliability of our software products. With the enhanced user experience and productivity, we want to keep you up-to-date and compliant with the most recent government mandates.

The 2019 updates include the current IRS approved tax forms, state and federal tax tables, as well as support and software patches for any issues that you may have throughout the year. We strongly recommend keeping your software up-to-date to remain compliant with the IRS and your state requirements.

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How Much Does Payroll Software Cost?

payroll software cost

Payroll software is vital for any small business who wishes to expand and grow. However, there can often be some confusion over the payroll software cost. We want to ensure that you don’t miss out, so keep reading to find out exactly how much your payroll software should cost you.

There are a number of different factors which affect the pricing of payroll software. Different providers offer different pricing models, but many share some features in common. For example, some may charge monthly based on the number of employees, whilst others charge every time you process the payroll. In this article, we will aim to discover how much your payroll software should cost by comparing the different costs that are incurred with payroll software. Continue reading

How to Choose the Best Payroll Software for Small Business

payroll software for small business

When it comes to choosing the best payroll software for small business, it can often feel like a daunting task. Unless you have experience, the thought of finding the best payroll software can seem intimidating, stressful and time-consuming.

If you’ve taken the decision to better focus your time on running your business, rather than deal with complicated spreadsheets and manual processes, then you’ve made the right choice. However, when it comes to choosing the best payroll software for small businesses, it’s important you find the right one. To help you with this process, we’ve put together a useful guide highlighting all the important qualities and factors that your payroll software should contain. Continue reading

Top 12 Advantages and Benefits of Using Payroll Software

Benefits of Using Payroll Software

Running a small business isn’t easy. When you are responsible for everything from the success of the sales force, to the efficiency of the back office, it can often feel overwhelming. But, it doesn’t need to be this way. There are times when smart delegation and strategic decision making can improve your business and allow you to get more done. The management of your payroll is a classic example.

You could handle the payroll process yourself, or delegate the task to an accountant, bookkeeper or a trusted employee. But, regardless of who is in charge of the payroll, there are numerous benefits of using payroll software to get it done. Continue reading