Insights

Navigating Year-End Payroll

Ring in the new year with payroll peace of mind. Get your year-end payroll in order with help from MTG!

Tax changes and year-end bonuses can make payroll complex. But you don’t have to tackle it alone. Our payroll pros will look for errors and opportunities to optimize.

Here are four year-end payroll tips to consider:

✅️Review and update employee information: Ensure all employee records are accurate and up to date, including personal details, tax forms, and benefits.

✅️Double-check payroll calculations: Take the time to review payroll calculations, including wages, bonuses, and deductions, to avoid any errors or discrepancies.

✅️Organize and retain records: Maintain organized records of payroll documents, including pay stubs, tax forms, and employee contracts, as required by law.

✅️Prepare for year-end reporting: Familiarize yourself with the necessary forms and deadlines for year-end reporting, such as W-2s and 1099s, to ensure timely submission.

DM us to schedule your year-end payroll review. We’ll review your payroll practices, help you avoid penalties, and set you up for a smooth start to 2024!