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How to set up a payroll process: 10 steps

Insperity

Once gross pay is calculated for each employee, subtract: The federal withholding based on their W-4 Form Then state and local taxes (if applicable) Then Social Security and Medicare taxes. Next up, consider any “fringe benefits,” such as: Health insurance Life insurance A retirement plan An employee stock purchase plan.

Payroll 101
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Pay Up! 10 Steps to Establishing a Payroll Process (Part 2)

Insperity

Once gross pay is calculated for each employee, subtract the federal withholding based on their W-4 Form, then state and local taxes (if applicable), then Social Security and Medicare taxes. Whether you have hourly or salaried employees, you must figure out who is getting paid what amount.

Payroll 40