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Amount of hours worked for any hourly, non-exempt employees (specific timekeeping requirements for these employees can be found on the Department of Labor’s website).Įach employee’s pay stub must state gross pay (total before taxes and withholdings) for the period, and then include an itemized list for each payroll deduction made.Other deduction amounts, such as health insurance or retirement plan contributions.Federal and state tax amounts to be deducted from each employee’s paycheck based on their W-4 information.Pay schedule, as you determine, outlining pay periods and pay days.W-4 forms, up-to-date from each employee, which determine their tax filing status and personal allowances/dependents.Preparing for payrollīefore you can run payroll, you need to have the following information: However, if you can’t afford a payroll service or would simply prefer to handle it yourself, here’s what you need to know about payroll and payroll taxes. Like many tax-related business requirements, this can be a complicated and frustrating process, which is why many companies hire payroll providers to handle it for them.

When you hire part- or full-time W-2 employees, one of the first things you’ll need to do is get them set up in your payroll system. Consulting with sources like the IRS, an accountant or a tax attorney can also aid in payroll duties.