Considering how relevant they are in our day-to-day lives, employment taxes can be very complicated to understand. As the employer, it’s your job to deposit and report employment taxes and prepare and file Form W-2. This is used to report wages, tips and other compensation paid to your employees.
It is important to remember that an independent contractor is a worker who does not work for your company, but is on a contract basis instead. Make sure you have correctly classified your workers before considering paying them as a contractor.
Before you can properly run payroll for your new hire, you need a few key pieces of information. Pay rate, pay frequency, cost center assignment, personnel information, and preferred method of payment are all obvious components of running payroll, but what about the classification of your relationship with the person performing work?
Jury duty is never fun, not for the person who has been summoned as a juror, and especially not for their employer who must manage with one less employee. As an employer, it can be extremely frustrating to have your staff pulled away for jury duty, but there isn’t much you can do about it other than disperse work to others to make up for that absence of the juror.