For many small businesses, one of the most common hiccups in the legal process is how to effectively bring on new employees. Below is an overview of the steps that should be taken when your business is able to hire new employees. All businesses are different, you should consider meeting with a Seattle Small Business Law Firm.
1) Provide a W-4 form update hiring a new employees for Federal Tax / Withholding purposes. W-4 Form Here.
2) I-9 Form to verify ability to work in the United States: Click here for I-9 Form.
3) Report Hiring to DSHS: Clink here.
4) Labor & Industries Worker’s Compensation Insurance:
This information should have been provided to you after you applied for your Master Business License). If not, click here.
5) Required Posters:
Click here for guidance on Federal Postings needed.
6) Taxes Issues:
See great IRS Publication for Small Business Taxation Issues: Click here.
Finally, you should submit a W-2 to the IRS at the closing of the year. Click here for W-2.
For Independent Contractors:
* Remember, you do not need to withhold taxes for ICs, however, the government will scrutinize the relationship to verify the relationship is not an Employee relationship disguished as a IC.
1) Gather all information regarding their business
2) Complete Independant Contractor Agreement
3) Gather an W-9
4) Treat them like an IC!!
5) Issue 1099 Misc at the conclusion of the taxable year
For more information, see a Kirkland Small Business Attorney.
Our Firm:
Weitz Law Firm, PLLC
5400 Carillon Point
Building 5000, 4th Fl
Kirkland, WA 98033
T: (425) 889-9300
Tuesday, January 26, 2010
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment