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Tackle Taxes Year End Preparation Presented by: Bart Schulze

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Presentation on theme: "Tackle Taxes Year End Preparation Presented by: Bart Schulze"— Presentation transcript:

1 Tackle Taxes Year End Preparation Presented by: Bart Schulze
Kate Graff

2 What is APS? Assisted Payroll Services
Service created to aid and assist your Back Office employees with your Payroll Process Consultation Weekly/Monthly/Quarterly tax payments Quarterly and Annual filings Weekly or Quarterly Packages depend on level of assistance

3 Objectives: Quarterly Review Year-End Best Practices Monthly Checklist
Smoother process Possible pitfalls Monthly Checklist Share Year End experiences Questions

4 October: 3rd Quarter End
Reminder due dates: Monthly State WH: Oct 15th 941 and State UI: Oct 31st Organize Q3 process: easily accessible local folder State Filings: Websites and Log-in info Withholding Unemployment Locals (if applicable) 941 Federal Liability: Greenshades file Helpful Avionte Reports: Taxes Summary Lite Get Employee SUI Wage Detail AQ Tax Remittance_EE and Tax Remittance_ER Review Q1 and Q2 data: input into same folder

5 November: Preparation
Note upcoming employee vacations and holidays Keep eye out for State Tax Mailings State Unemployment: rates

6 November: Preparation
Keep eye out for State Tax Mailings State FUTA: 2016 rates released State FUTA Rates for 940 Schedule A State FUTA? Credit Reduction Rate 4 US states: CA, CT, OH, Virgin Islands ~0.3% increase

7 November: Preparation
Review Payroll Transaction Types in Avionte Admin Tools > System > Transaction Type Deductions Setup Pre-tax? W2 Box Setup

8 November: Preparation

9 December: Preparation
Generate Greenshades Feed & XML Errors? Can correct now! Error: Missing State/SUI ID: Why: New state added this period How: Admin Tools > Employer > Tax > Tax EIN tab Must add ID for State or SUI Enter 0 for inactive states

10 December: Preparation
Error: Negative SUI wages for employee Why: Reversed/Voided a check in one quarter, when Employee was paid/working in previous How to correct: Ignore Employee will not show on Unemployment return 941, State WH, all other quarter files unaffected

11 December: Preparation
Error: Employee missing SUI wages on one or more checks Why: Converted data, something did not transition correctly How: Contact Avionte support, will need to de-bug internally

12 December: Preparation
Start thinking about W2s: Printing in house? Order 4up blank paper Outsourcing? Find vendor Be aware of due dates and price increases Employee Portal? No need to Print! (with consent) Save final week for exceptions: Bonuses Commission checks Owner pay

13 January: Taxes Time! – Week 1
Complete 2016 Payroll Generate Greenshades Feed & XML Additional Errors? W2 File sent to vendor, or start printing

14 January: Taxes Time! – Week 2
Review 941 and Schedule B Total from Schedule B = Line Rounding: Line 7 941 Liability Dates = Check Dates State Withholding Return/Payments Due January 15th File Locals (if applicable)

15 January: Taxes Time! – Week 3
Employee 1095-C Forms: Due by Jan 31st Update returned W2s Bad address Employee returned issues State Unemployment Filings/Payments Due January 31st

16 January: Taxes Time! – Week 4
File W2s Due to SSA January 31st File 941 and Schedule B Review 940 and Schedule A Filing/Payment due: February 28th Line 4 error: must check a box Line 11 = State FUTA (Total from Sch A) Line 12 = Line 17 Rounding: Line 16 d

17 Discussion: What went well for you in previous year-end filings? Tips? Suggestions? What makes year-end stressful for you? Something you wish you would have known before your first year-end with Avionte?

18 Questions?

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