As a small employer, you are the HR Department and managing the people and culture of your business is important to the success of your business. Processing paychecks and paying payroll taxes is a big part of your role, but you should also understand all of your requirements as an employer.
Some examples of typical questions we receive from employers;
Starting in January 2016, employers in the state of Oregon are required to implement sick time policies. Employers are required to provide written notice of the law. You can find the info you need at Requirements of Oregon Sick Time Law.
Employers want to attract and keep good employees. Providing clear and valuable benefits to your employees will help you create a good work environment. A written handbook for employees can help document the benefits you provide such as sick time, retirement plans, paid time off, etc.
Every January we work with clients to prepare and issue 1099 forms for contractors who were paid more than $600 in the year. Paying temporary or part time help as independent contractors is relatively easy. You don’t withhold any taxes and you issue a 1099 to report the amount paid to each person or company at the end of the year. Under ORS 670.600 workers may be properly classified as independent contractors provided you do not have direction and control over their work, they are licensed and customarily engage in an independently established business.
Be sure you have a clear agreement with your independent contractors that they will be responsible for their own taxes. A written independent contractor agreement is very valuable. Also, be sure to collect a Form W-9 from all contractors before you pay them. One disgruntled person can cause a big headache for you as an employer when you part ways. Often, they file for unemployment benefits with the Oregon Employment Department and then your entire company will come under scrutiny.
Sherwood Tax and Accounting provides payroll services, but we can also be a resource to you to help you be the best employer you can for the success of your business.
When it comes to personal or business accounting services and tax preparation there’s nothing that brings more peace of mind and confidence, and nothing that helps you focus on the big picture, than knowing that your bottom line is on target and on time.
Working with a certified public accountant (CPA) who takes the time to understand the way you live your life and run your business, and invests in educating you so you can make informed decisions, will ensure that your bottom line is not only on target and on time but that it moves you along the road to your success and your goals.
That’s exactly how Sherwood Tax & Accounting approaches every client relationship. Sherwood Tax & Accounting understands that your dreams and goals are unique and that a pre-programmed, one-size-fits-all approach won’t provide the best outcome for you.
When you work with Sherwood Tax & Accounting, you’ll experience something very different. You’ll be working with a partner who goes well beyond simply crunching numbers and filing returns. Sherwood Tax & Accounting will provide you with a clear picture of your financial position and the knowledge you need to make decisions that will move you toward your goals.