In this episode of Don’t Waste the Chaos, we’re diving into one of the most critical tasks for business owners as the year winds down: the year-end payroll wrap-up. From verifying employee data to filing crucial tax forms, we’ll walk you through a comprehensive checklist to ensure your payroll process is smooth, compliant, and ready for the new year. Staying on top of payroll not only helps avoid penalties but also builds trust with your employees and sets your company up for success in 2024.
Tune in to hear:
- Key tasks to check off for your 2024 payroll closeout How to verify employee info, assess benefits, and reconcile overtime
- Which forms (W-2, W-3, 1099, 940, 941) and reports are crucial for compliance
- The importance of reviewing tax updates and updating payroll software
- Tips on how to prepare for the new year, ensuring a seamless payroll transition
Resources:
- IRS Employment Taxes Information: https://www.irs.gov/businesses/small-businesses-self-employed/employment-taxes
- Gearing up for employee performance reviews? Grab our free five-point rating scale: https://www.saltandlightadvisors.com/five-point-rating-scale
- Are you an employer who wants to Use science to make stronger, data-backed decisions across the entire employee lifecycle? Using Predictive Index will help you create a people-focused strategy and provide a clear understanding of how to improve candidate experience, employee morale and performance, leading to higher productivity and better business results. Go to saltandlightadvisors.com/predictiveindex to learn more.
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