We handle the taxman

If you weren’t a client of mine, what would you have to do as an employer? Many things, payroll and tax deposits must be in on time. And that is a function of how much your payroll is, if you are a large employer you have to do it weekly. If you are a small employer, you might have a little more time to it. And, an employer must get comp insurance. This usually requires a pre-payment, but if you use JS services, pay as you go. An employer must also get a TDI policy, health insurance coverage, as well as create an employer handbook for your employees to follow by. And as an employer, you must monthly file your work comp audit, depending on your size. Here’s the checklist for a smaller company: quarterly you must file a payroll tax form, quarterly at a minimum work comp insurance audit & payment, a quarterly TDI insurance audit & payment, a quarterly state unemployment tax filing, federal unemployment tax must be paid quarterly, health insurance report of who are your employees monthly, as well as W2’s and many other regulations. The state changed the 941 form for this year. A small employer wouldn’t be able to keep up with the changes. One trap many employers fall into is forgetting to pay their taxes on time. Few weeks into the next quarter, IRS sends a notice with the penalty and interest of not paying the tax. This cascades and adds up with penalties and interests and many letters from the IRS. Many people go into a panic and pay it off, but if an employer knew what they were doing they would call the IRS and explain what happened. Letters from the IRS is what puts most people into a panic. If an employer went with JS services, JS services gets all the letters from the IRS and the employer doesn’t need to panic.