Spring Reminders For Taxes & Payroll
Happy Spring!! Spring for Summit Accounting Solutions means tax season and we are deep into it now! Thank you for your patience as our staff spreads their time between their regular monthly responsibilities and income tax preparation. Don’t let this stop you from calling on us; we are here to answer your questions and offer any support we can.
PERSONAL PROPERTY DECLARATIONS ARE DUE APRIL 15, 2013. Please be sure you have completed and submitted yours to your county Tax Assessor or sent us the form for completion. If you have questions, please let us know.
FOR THOUGHT AND DISCUSSION-PAYROLL TOPICS
- For iPhone users, there is NetClient CS app available that would allow employees to view their pay stubs, etc. on the go. What a great benefit for your employees! For more information about this app please contact Courtney at our Lone Tree office.
- We have recently updated the Direct Deposit Authorization form. We are requesting that this new form be used for all new hires.
- Form W-4 has also been updated for 2013. Form W-4 should be completed by new employees or any employee who would like to make a change to their allowances for 2013. The form can be found in a fillable format on the IRS website for your convenience.
- We are seeing an increase in audits being performed by the Colorado Department of Labor & Employment. In addition to state unemployment tax compliance, they are asking to see completed Affirmation of Legal Work Status forms. This form should be completed within 20 days of hiring a new employee and retained in your office. Visit the Department of Labor’s Website for the form and additional information.
- Employee bonuses should be treated as wages according to IRS rules and taxes need to be withheld and paid. Please let us know ahead of time if you are considering paying a bonus so that taxes can be calculated and paid in a timely manner.
Would your spouse or a staff member benefit from receiving this monthly communication? Let us know and we will be happy to add them to our email list.
We appreciate the opportunity we have in working with you to help make your job easier and your business more profitable.
Please don’t hesitate to contact us with any questions or concerns you might have.
Summit Accounting Solutions