What structure is right for my business?<\/h3>
Answer these six questions to help you find your fit<\/p>
Familiar forms<\/b><\/h2>\n\n\n\n![\"HR](\"https:\/\/www.blockadvisors.com\/resource-center\/wp-content\/uploads\/2024\/04\/hiring-first-employee-documents-1024x683.jpg\")
<\/figure>\n<\/div>\n\n\nYou’ve probably been a full-time employee or an independent contractor before now, so you have some familiarity with the initial paperwork required from being on the receiving end. Now that you’re the administrator, though, you’re responsible for some additional requirements – and for making sure that your employee has completed everything.<\/p>\n\n\n\n
First up: You’ll need an Employer Identification Number (EIN)<\/b>. The IRS and state agencies will require this number for tax filings and other paperwork. The fastest, easiest way to get yours is to apply online, here<\/a>. You’ll be issued an EIN immediately after you supply the needed information to this automated EIN Assistant<\/b>. If you’d rather, you can print the Form SS-4<\/a><\/b> (instructions are here<\/a>) and submit it via fax or U.S. Mail.<\/p>\n\n\n\nInstituting a payroll process – including the regular remittance of payroll taxes – will be one of your biggest challenges as an employer. Before you can set up a system for this (hopefully, cloud-based), you’ll need to have your new hire complete a W-4<\/a><\/b> form from the IRS so that you’ll be able to withhold the correct amount of federal tax every payday. If the individual is an independent contractor, you’ll still have to report his or her income to the IRS, on a W-9<\/a><\/b> form.<\/p>\n\n\n\n<\/div>Payroll services made simple<\/h3>
Cross paychecks off your small business to-do list<\/p>
\nLearn more<\/a><\/div>\n<\/div><\/div><\/div>\n\n\n\nMore forms<\/b><\/h2>\n\n\n\n
Depending on your company’s location, you may also have to withhold and submit state and local taxes. To find out what the precise requirements are for your area, click on your state’s link on this IRS web page<\/a>.<\/p>\n\n\n\nSince 1996, employers have been required to report all new hires and re-hires to the directory maintained by their states within 20 days of the hire\/re-hire date. The Small Business Administration (SBA) maintains a list of links to these state entities here. And you’ll need to procure unemployment insurance, through either a private carrier or your state\u2019s program.<\/p>\n\n\n\n
All new hires must prove that they are legally eligible to be employed in the United States by filling out a Form I-9. You, as the employer, are charged with verifying the information your employee has supplied by examining one or a combination of documents (U.S. Passport, driver’s license and birth certificate, etc.). So you, too, will complete and sign your portion of the I-9<\/a> and keep it on file.<\/p>\n\n\n\nYou can also use E-Verify<\/a> online tool, which compares the information supplied by the employee on the I-9 to multiple sources of information available to the U.S. Department of Homeland Security, and provides results within a few seconds.<\/p>\n\n\n\nYou and your new hire must complete and sign the Form I-9 to document his or her legal eligibility to work in the United States.<\/i><\/p>\n\n\n\n
The Department of Labor has developed a great resource for new employers called the FirstStep<\/i> Employment Law Advisor<\/a>. The information on this site covers only DOL-related laws. You’ll want to consult with your state and other federal agencies to make sure that you’re compliant elsewhere.<\/p>\n\n\n\nOf course, you’ll probably have your own paperwork to welcome your new hire – contracts or other agreements, maybe an employee handbook, product or service reference materials, etc. But handling those state and federal requirements upfront will let you focus on the less cut-and-dried elements of being a manager.<\/p>\n\n\n\n
Stay compliant with payroll services<\/h2>\n\n\n\n
Hiring employees doesn’t have to be so stressful. Professional payroll services<\/a> from Block Advisors can help you stay compliant and free up your schedule to focus on employee training and growing your business. <\/p>\n\n\n\nMillions of small business clients count on Block Advisors for affordable services including taxes<\/a>, business formation<\/a>,\u202fbookkeeping<\/a>,\u202fpayroll<\/a>,\u202fand\u202fbeneficial owner reporting<\/a>\u202f. Reach out today to discover how Block Advisors can help your small business thrive.<\/p>\n\n\n\nThis article is for informational purposes only. The content may not constitute the most up-to-date information and should not be construed as legal advice. <\/p>\n\n\n\n
\n\n\n
<\/figure>\n<\/div>\n\n\nYou’ve probably been a full-time employee or an independent contractor before now, so you have some familiarity with the initial paperwork required from being on the receiving end. Now that you’re the administrator, though, you’re responsible for some additional requirements – and for making sure that your employee has completed everything.<\/p>\n\n\n\n
First up: You’ll need an Employer Identification Number (EIN)<\/b>. The IRS and state agencies will require this number for tax filings and other paperwork. The fastest, easiest way to get yours is to apply online, here<\/a>. You’ll be issued an EIN immediately after you supply the needed information to this automated EIN Assistant<\/b>. If you’d rather, you can print the Form SS-4<\/a><\/b> (instructions are here<\/a>) and submit it via fax or U.S. Mail.<\/p>\n\n\n\n Instituting a payroll process – including the regular remittance of payroll taxes – will be one of your biggest challenges as an employer. Before you can set up a system for this (hopefully, cloud-based), you’ll need to have your new hire complete a W-4<\/a><\/b> form from the IRS so that you’ll be able to withhold the correct amount of federal tax every payday. If the individual is an independent contractor, you’ll still have to report his or her income to the IRS, on a W-9<\/a><\/b> form.<\/p>\n\n\n\n Cross paychecks off your small business to-do list<\/p> Depending on your company’s location, you may also have to withhold and submit state and local taxes. To find out what the precise requirements are for your area, click on your state’s link on this IRS web page<\/a>.<\/p>\n\n\n\n Since 1996, employers have been required to report all new hires and re-hires to the directory maintained by their states within 20 days of the hire\/re-hire date. The Small Business Administration (SBA) maintains a list of links to these state entities here. And you’ll need to procure unemployment insurance, through either a private carrier or your state\u2019s program.<\/p>\n\n\n\n All new hires must prove that they are legally eligible to be employed in the United States by filling out a Form I-9. You, as the employer, are charged with verifying the information your employee has supplied by examining one or a combination of documents (U.S. Passport, driver’s license and birth certificate, etc.). So you, too, will complete and sign your portion of the I-9<\/a> and keep it on file.<\/p>\n\n\n\n You can also use E-Verify<\/a> online tool, which compares the information supplied by the employee on the I-9 to multiple sources of information available to the U.S. Department of Homeland Security, and provides results within a few seconds.<\/p>\n\n\n\n You and your new hire must complete and sign the Form I-9 to document his or her legal eligibility to work in the United States.<\/i><\/p>\n\n\n\n The Department of Labor has developed a great resource for new employers called the FirstStep<\/i> Employment Law Advisor<\/a>. The information on this site covers only DOL-related laws. You’ll want to consult with your state and other federal agencies to make sure that you’re compliant elsewhere.<\/p>\n\n\n\n Of course, you’ll probably have your own paperwork to welcome your new hire – contracts or other agreements, maybe an employee handbook, product or service reference materials, etc. But handling those state and federal requirements upfront will let you focus on the less cut-and-dried elements of being a manager.<\/p>\n\n\n\n Hiring employees doesn’t have to be so stressful. Professional payroll services<\/a> from Block Advisors can help you stay compliant and free up your schedule to focus on employee training and growing your business. <\/p>\n\n\n\n Millions of small business clients count on Block Advisors for affordable services including taxes<\/a>, business formation<\/a>,\u202fbookkeeping<\/a>,\u202fpayroll<\/a>,\u202fand\u202fbeneficial owner reporting<\/a>\u202f. Reach out today to discover how Block Advisors can help your small business thrive.<\/p>\n\n\n\n This article is for informational purposes only. The content may not constitute the most up-to-date information and should not be construed as legal advice. <\/p>\n\n\n\nPayroll services made simple<\/h3>
More forms<\/b><\/h2>\n\n\n\n
Stay compliant with payroll services<\/h2>\n\n\n\n
\n\n\n
![\"Block](\"https:\/\/www.blockadvisors.com\/resource-center\/wp-content\/uploads\/2022\/08\/HRB-Block-Advisors-Logo-1024x436.jpg\"){kind=logo}
<\/a><\/figure>\n<\/div>","protected":false},"excerpt":{"rendered":"