Thread: employees
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Old 04-22-2002, 12:35 AM
marcie marcie is offline
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Join Date: Dec 2001
Location: cincinnati,ohio
Posts: 21
employees

first go to irs.gov there you can get the inforamtion about a federal id number if you look long enough you will find a phone number and be able to get it right over the phone instead of waiting for them to send you a form or even downloading a copy of the form.

then go to your state web site to get a state id number

remember you will have to match social security and medicare that your employee pays plus you have to pay FUTA (federal unemployment) plus state unemployemnt plus workers compensation....... once you get the info from the state you must get classified with the sate workers comp then they will send you a rate the rate is used to mutiply by yoour payroll this is a 8 month premium

you will also have to chose a workers comp provider ( in Ohio ), anyway)

the federal taxes collected from employees and your matching share plus FUTA are due when you pay your employees you pay them to the bank ( irs will send you coupons for this )

state taxes are due quarterly

you will also have to do a quarterly and end of year reconciliation form federal return (940 941)

it seems intimidating but its not that hard just extra paperwork

the web sites are very helpful
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