THE PAYROLL FACTORY 610-644-4569 thepayrollfactory.com

Payroll Accounting for New Business Entities thepayrollfactory.com 610-644-4569

thepayrollfactory.com 610-644-4569 Entity Selection Discuss with Client Pros and Cons of each Entity Schedule C Partnership – 1065 Regular/C Corp 1120 S-Corp/ 1120S LLC - Various thepayrollfactory.com 610-644-4569

thepayrollfactory.com 610-644-4569 Register for Tax ID’s Federal EIN State Withholding – Most State Unemployment Compensation – All Local Taxes – Various PA – Earned Income Tax- Almost All PA – Local Services Tax – Some thepayrollfactory.com 610-644-4569

thepayrollfactory.com 610-644-4569 Register for Tax ID’s Other States - 4,943 jurisdictions in 17 states All counties in Indiana and Maryland impose a local income tax. In Ohio, 593 municipalities and 181 school districts have such a tax. 2,469 municipalities and 469 school districts in Pennsylvania impose local income or wage taxes. Many cities and school districts in Iowa and Michigan also have these taxes. thepayrollfactory.com 610-644-4569

thepayrollfactory.com 610-644-4569 Employment Documents W-4 I 9 Application Background Check Authorization E Verify Non-Compete and/or Non-Disclosure Agreements, Etc. Asset docs for Company Auto, Laptop, Cell Phone, Other , Etc. Employee Handbook, Company Procedures, Etc. Other thepayrollfactory.com 610-644-4569

thepayrollfactory.com 610-644-4569 Starting Payroll Pay Frequency Weekly Bi-Weekly Semi-Monthly Monthly New Hire Reporting Direct Deposit Tax Deposits Frequency Paper vs Electronic Multi-state or Multi-local thepayrollfactory.com 610-644-4569

thepayrollfactory.com 610-644-4569 Normal Payroll Garnishments Philadelphia Res/Non Res Retirement plans 401k Roth 401k Health Insurance Work Comp Unemployment Comp Personal Use of Company Vehicle – fiscal year Third Party Sick Pay thepayrollfactory.com 610-644-4569

thepayrollfactory.com 610-644-4569 End of an Entity Inactive or $0.00 Quarterlies and Year End All quarterlies must be completed until final returns are filed. Final Quarterlies filed Year End Reconciliations filed W-2’s filed thepayrollfactory.com 610-644-4569

thepayrollfactory.com 610-644-4569 Links https://taxfoundation.org/local-income-taxes-city-and-county-level-income-and-wage-taxes-continue-wane/ https://www.pa100.state.pa.us/Registration.htm https://www.govdocfiling.com/tax-id-application/?utm_source=google&utm_medium=cpc&utm_campaign=adgroupfour&utm_content=Non_easytitle&gclid=EAIaIQobChMIpLXMlbHY2QIVhUsNCh2vxAXcEAAYASAAEgJuWvD_BwE thepayrollfactory.com 610-644-4569

thepayrollfactory.com 610-644-4569 Links http://munstats.pa.gov/Public/Default.aspx https://www.keystonecollects.com/page/home https://www.hab-inc.com/ https://thepayrollfactory.com/ thepayrollfactory.com 610-644-4569

Thank You for Attending Today’s Seminar If you have any further questions about Payroll Accounting Please contact The Payroll Factory 610-644-4569 www.thepayrollfactory.com