1. THE PAYROLL FACTORY 610-644-4569 thepayrollfactory.com

2. Payroll Accounting for New Business Entities
thepayrollfactory.com

3. 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

4. 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

5. 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

6. 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

7. 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

8. 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

9. 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

10. thepayrollfactory.com 610-644-4569
Links
thepayrollfactory.com

11. thepayrollfactory.com 610-644-4569
Links
thepayrollfactory.com

12. Thank You for Attending Today’s Seminar
If you have any further questions about
Payroll Accounting
Please contact
The Payroll Factory