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Before Payroll Part 8: Setting up Independent Contractors in QuickBooks

Two weeks ago I shared with you how to set up employees in QuickBooks, but what if you have 1099 independent contractors? Last week discussed how you determine if a worker is a 1099 independent contractor or an employee? Today I would like to go into how you go about setting up independent contractors in QuickBooks. Before I do begin, I would like to let you know how and why this falls under … [Read more...]

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Before Payroll Part 7: Employee or Independent Contractor?

Last week I shared with you how to set up employees in QuickBooks, but what if you have 1099 independent contractors? (1099 refers to the IRS filing at the end of the year, similar to a W-2 for employees) How do you determine if a worker is an employee or independent contractor? Today I would like help you answer that question and obtain the documentation you need to back up the right working … [Read more...]

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Before Payroll Part 6: Setting up Employees in QuickBooks

If you have made it this far with me with Payroll, you know we have gone through Employee Automation,  understanding the Cost of an Employee, Payroll Account Applications, Employee Payroll Documents, and Setting up Payroll Accounts in QuickBooks. This post, Setting up Employees in QuickBooks, is the 6th and final post in the "Before Payroll" series I have put together for you to help you think … [Read more...]

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Before Payroll Part 5: Setting up Payroll Accounts in QuickBooks

Today I will help you work on setting up Payroll Accounts in QuickBooks. It is  important that you have all of the payroll liability and expense accounts set up before running your first payroll so that you can track your liabilities and expenses correctly. Getting everything set up right beforehand will help save you trouble down the road as you accrue and pay liabilities. I will help you … [Read more...]

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Before Payroll Part 4: Employee Payroll Documents

Last week I helped you get your payroll account applications set up for your business. Today I want to review the employee payroll documents you will need to have your employees fill out in order to process payroll correctly and be in compliance with regulations. The forms that you are required to keep on file are the IRS W-4 Form, the USCIS I-9 Form, and State W-4 Form. Optional documents that … [Read more...]

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Before Payroll Part 3: Payroll Account Applications

Last week I talked about considering the cost of an employee before you begin payroll. If you didn't quite catch everything in that post, don't worry because the first time you file a quarterly payroll tax return you will understand. This week I am getting beyond trying to work without employees and am assuming from here forward that you are going to or have begun paying employees. Today I will … [Read more...]

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Before Payroll Part 2: Cost of an Employee

Today I would like to continue on with the Payroll topic. Last week we discussed rethinking the need for an employee along with some alternatives such as employee automation. Today I would like to discuss the full cost of an employee. If or when you decide you need an employee, the next step is to figure out what your bottom line costs will look like. To help you think through the full cost of an … [Read more...]

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Before Payroll Part 1: Employee Automation

I would like to jump into a topic that I have thought a lot about from the employee side of the equation along with now as a business owner, from a potential employers perspective. I want to be sensitive to different industries, whether service-oriented or manufacturing of some kind, and the scalability of different business models. The questions and challenges I will pose are not applicable to … [Read more...]

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