Thread: First Hire
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Old 08-14-2012, 07:15 PM
krzys555 krzys555 is offline
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Join Date: Jun 2012
Posts: 108
Quote:
Originally Posted by cutman2000 View Post
I'm looking to hire someone part time to help me out. Are these all a must?

#1. Obtain a Federal Employer Identification Number (FEIN)
#2. Register with your State Labor or Employer Division
#3. Obtain Workerís Compensation Insurance (if required)
#4. Post an "Employee Poster" as required by Federal and most State Governments

I'm looking for someone to help me part time, but I'm wondering if I should pay "under the table" until I get more established. What am I looking at, as far as fees($) for the list above(#1, #2, #3 and #4).
At the moment, my business name is registered(LLC) with the state. I'm insured(liability 1 million). No worker ins.
the ein number is free if you do it online.
the state labor registration is free
the employee posters will not cost you more then $50
workmans comp is based off payroll

the main thing you will have to think about is getting a service to cut you your payroll checks.
you need to withhold a certain amount for taxes, social security ect.
you will have you own taxes to pay based on how much you pay him.
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