Audit proof your business.2019-01-05T15:07:57+00:00

Employee records

When you hire an employee, the employee should complete:

  1. Form 1-9
  2. Fed and state W-4

As an employer, you are expected to withhold, report and pay taxes to the authorities. Every month make the following deposits to the tax authorities:

  1. Social security taxes withheld and paid by the employer: As an employer you are responsible for paying half of your employees social security taxes.
  2. Medicare taxes withheld and paid by the employer: As an employer you are responsible for paying half of your employees medicare taxes.
  3. Federal income tax withheld
  4. State income tax withheld.

At the end of the quarter file and pay the balance on:

  1. Form 941 – payroll tax return for both federal and your state equivalent
  2. State unemployment tax – file and pay your state unemployment tax

At the end of the year, file:

  1. Form 940 – Federal unemployment tax return. Pay any balance due
  2. W2s

Keep all these records for at least 7 years.