Doing taxes is as challenging as solving a Rubik’s cube, but without any of the fun. Also like a Rubik’s cube, there are endless ways to get it wrong. For individuals, getting taxes wrong can be painful, but the stakes are even higher for businesses.
One of the biggest challenges we’re seeing for businesses right now is the rise in popularity of local taxes. Since most state W-4s don’t list such taxes directly, employees and employers are left to find out about changes through trial and error (yikes!). New Yorkers: Take heart. Yours is the one state that has localities listed on the W-4s and allows employees to claim different deductions on the local, state, and federal levels.
No matter where you are, it’s a lot to think about.
Would you like to think less about taxes? Here’s how hiring PayReel can help:
As the employer of record, we’re responsible for taxation. That means you can save yourself some time and headache. We handle it all. We keep addresses up to date, send out W-4s, and make sure your workers are classified correctly so you give them the correct forms. We also make sure you’re using the right W-4 for your state and keep track of the federal, state, and local taxes.
Hand over the Rubik’s cube. We’re like this guy.
One more thing: There are certain career paths (like tax lawyering) that really require a special type of person. Unless you’re one of those, (which we’re not) you’re not legally allowed to give your employees tax advice. Send them to the IRS.
Producing multimedia content and executing live events is chaotic. At PayReel, we make sure our clients are able to hire who they want, when they want and that everyone is paid properly. Leave all payroll services and details (even taxes) up to the PayReel team so you can focus on pulling off a flawless production. Contact us anytime at 303-526-4900 or by emailing us here.
Relax. We got it.