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10 steps to maintain end-of-year payroll compliance

Business Management Daily

Some payroll tax compliance items are completed quarterly, or more frequently throughout the year. However, there are a large number of payroll compliance items that need to be completed at the end of the year or the start of the new year. Here are the steps you need to take to close out the year in proper payroll compliance: 1.

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Types of Wages That Might Come up in Your Small Business

Patriot Software

Accrued time off pay, or PTO accrual, is when an employee has earned paid time off from work but has not used it. Types of pay and taxes. Regardless of the types of pay you use to compensate employees, you must withhold income, Social Security, and Medicare taxes from employee wages. Accrued time off pay.