Thanks for your question, and thanks for using JustAnswer.com
I don't think you are in any sort of bind. You have one employee, and have only been paying them without withholdings for about three months.
So, there's not much tax that will be due on your part
The best advice would be to get software that does all the work for you. I think Quickbooks has a payroll module and your Quickbooks ProAdvisor could get you all set up.
With small payroll as you describe, you would only have to pay your taxes quarterly and with your return
So, you would need to file your payroll report for the period ended in June fairly quickly
You will fill out form 941
In addition use the withholding tables to determine how much should be withheld from your employee's check for their federal payroll
Then get a W-4 from them
Here's the employer tax guide: http://www.irs.gov/pub/irs-pdf/p15.pdf
Ok, it seems that the hire date coincides with the last quarter... DO you know when the due date to file payroll report is?
You could enlist the help of a local bookkeeper on a freelance basis for this, They shouldn't charge you more than $100-$150 which would be worth it to get set up straight
For July 31 I would have to report payroll for the Months of April, May and June?
So, you're good :-) No worries
If I knew how to calculate payroll deductions, I could in theory come up with the Stubs and give them to my employee...
From here on out I would get set up in quickbooks. It will calculate everything for you
That's why you should get a contractor in to look at this, get it set up, and clean up your mess
Assuming they were correct, I could just go to the Bookkeeper and request help for setting up the structure to continue to make payments regularly
Haha... indeed a mess it is...
I am sympathetic to my employee's interest in purchasing a home.. which is why I would like to get her some paystubs..
Yes, but you see this isn't a huge mess like you might imagine
This happens to people who have many employees
then they must clean up a collossal mess. It's not so bad when it's just one employee
Thank you for putting this in context.. I feel better about the situation... it is an advantage that I have some time to file..
Would you recommend any of those Tax Returns places like H&R BLock or Liberty ? Or should I search for a local accountant?
As you mentioned, I would love to get this setup in Quickbooks... I just don't know how it works...
I did in fact purchase the Payroll module and it is there... I just fear my learning curve will not help me get everything setup in time..
I am thinking of creating stubs and sending payroll report outside of quickbooks for now, until I learn the software.. unless of course some expert can help me set it up..
I would search for a Quickbooks ProAdvisor in your area
They will set it up and train you on it
And they will also clean up your mess for you
Shouldn't be too expensive
I would search locally, like an independent bookkeeper. They will be more reasonable
Ok... Thank you for your assistance. I will see what I can find locally!