When it comes to year-end payroll, it's better to be early than late. In fact, your payroll processor wants you to do this early as well. And if you don't currently have payroll in your business but you're a growing entrepreneurial organization, then you will be doing this eventually. 

So we’re telling you now – don't skip this process because it can save you a lot of time, money, and energy in the new year. And especially because the IRS has what it takes to take what you have. 

In this episode, we want to discuss a few things you need to be mindful of because this is a process you need to put inside your operational systems every single year. So we’re going to do a quick, little rundown of the things you have to understand to get this stuff done ideally before the W-2 gets run right after the first of the year.

In this episode, you will hear:

• Why you need to do your year-end payroll early
• Why it’s better to get some help from a payroll processor
• The cost of getting the information wrong on the W-2
• Things to know about voided checks and escort payroll and health insurance
• Prepping for 1099

Subscribe and Review

Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. 

We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

Gusto www.thebottomlinecpa.com/gusto-invite

Episode 030 Ins & Outs of How to Treat Self-Employed Health Insurance https://www.profithero365.com/030-ins-outs-of-how-to-treat-self-employed-health-insurance/

Episode 028 How An S-Corp Can Save You Big Money On Tax https://www.profithero365.com/028-how-an-s-corp-can-save-you-big-money-on-tax/

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com