1319 W. Baseline Rd, Suite 201 Lafayette, CO 80026 Tel: 303-530-4650 Fax: 303-530-4971 email:Brad@Online-CPA.com
Payroll & 1099 Reporting Services
Complying with laws relating to employees and independent contractors can be one of the most complicated aspects of running a small businesses. There are separate rules and reporting requirements for the different federal and state taxing authorities. Plus federal and state employment laws that must be considered for each worker. If you have any type of employee pension or benefit plans, you have additional rules that affect your business.
We advise clients on some of the various complexities businesses may encounter in dealing with employees and independent contractors and the related reporting requirements. This usually allows the client to make an informed decision on whether they should hire legal counsel for advice about worker classification and whether to use a payroll service or process payroll themselves. We also offer services to prepare 1099's for independent contractors.
We can advise businesses on how to set up payroll systems and help them comply with the various tax and accounting rules. This includes dealing various withholding taxes and deposit requirements, and may involve pre-tax benefits such as medical insurance and 401(k) withholdings. We also consult on issues such as classifying workers as employees vs independent contractors, worker's comp insurance and audits, calculating the personal use of company cars, etc. However, we do not offer legal advice or advise on qualified plan administration or employment law and usually refer clients to a specialist if they need help on these issues.