Dan Lutchansky CPA
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“The generation of random numbers is too important to be left to chance.”

Robert R. Coveyou

Small Business Taxes and Accounting Pie Chart

 

Accounting pie chart

 





PAYROLL PROCESSING

When it comes to paying employees, the IRS and the State of California have made the payroll function a complicated process for the small business owner.

When you are about to hire your first employee, you need to:

   1.  Apply for an Employer Identification Number with the IRS at www.irs.gov.
   2.  Register with the California Employment Development Department at www.edd.ca.gov.
   3.  By law, California employers are required to have workers’ compensation insurance, even with just         one employee. You can obtain this insurance through an insurance broker or agent. Learn more         about workers’ compensation at www.dir.ca.gov.
   4.  Learn about California Labor Law at www.dir.ca.gov.
   5.  Determine how you are going to process payroll, deposit payroll taxes, file quarterly payroll tax         returns, file annual payroll tax returns and provide a W-2 for each employee.

We don’t process our own payroll and strongly recommend that you use a payroll processing company yourself. Let us know and we can provide the names of several qualified providers.

Let’s get started with a complimentary business consultation, where we will answer your questions, assess your situation and recommend a course of action. We can be reached at (408) 378-9500 or by completing the form at Contact Us.