October 11 Payroll Chat: Preparing for Year-End and 2019
With all the recent changes to payroll from the Tax Cuts and Jobs Act, are you prepared for year-end and 2019? In this month's #PayNews chat, Jim Medlock, CPP and Karen Salemi, CPP, FLMI, will share their best tips for successfully closing out 2018 and beginning to prepare for 2019.
The discussion begins at 3 p.m. ET on Thursday, October 11. Be part of the conversation by joining our chatroom portal Twchat or participate through your Twitter account by following along with #PayNews and including the hashtag in your tweets.
Below are the questions that will be discussed throughout the hour:
- What do you do to make sure that all of the taxes are balanced and reconciled?
- What sort of reports do you use to balance year end, where do you get them and have you created any custom reports.
- How are you complying with the Tax Cuts and Jobs Act requirement to include moving expenses in taxable income?
- How are you communicating with your organization’s employees the need for them to check their withholding using the IRS’ Withholding Calculator?
- What activity do you find most important to ensuring an effective, efficient, and penalty-free year-end process?
- When new tax tables are available in your system, what steps do you take to check the tables are correct?
- To meet the January 31 deadline for filing W-2 forms with the SSA and most states, what techniques are you using to ensure you have the taxable income data timely?
- When do you start your year-end project and what is the first task in your list?