By Steve Kania
It’s almost always true in business that you can’t afford to miss deadlines. The same is true with payroll. Federal and state agencies have specific guidelines about when to report and deposit payroll taxes. It’s, of course, keenly important your clients are aware of these deadlines. The IRS won’t forget them.
Many small businesses are not even aware of these deadlines. As an advisor, you can help them stay up-to-date and compliant.
You can show them when deposits should be made and which forms are required to ensure that funds are available when payday rolls around. Be sure your clients are clear as to who should do the filing and make the payments.
Using a payroll service is one way to stay on top of these deadlines. However you do it, you don’t want to get behind.