First Steps to Payroll Management

When starting a new business it is necessary to understand what is required out of you as a business owner. First of all, all businesses are required to have an employee identification number. This is a nine digit number that sets up an account for all of your federal tax payments. An EIN can be obtained by filling out a S-4 and sending it in to the IRS. Once you have hired your first employee be sure to have them fill out a W-4 and an I-9. The W-4 is for their income tax withholdings and the I-9 is to verify that they can legally work in the United States. Be sure to notify the state where your business is located. There will be additional forms for you to fill out. More info: payroll for small business

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