It's Tax Time
Please read this document thoroughly as many items detailed in the following paragraphs may require a response from you to avoid any potential tax penalties or additional processing fees.
Last Processing Date
If you are planning an Annual/Holiday bonus payroll, Please note your last day to submit it will be Monday, December 18th. Please note that throughout the year we have remained somewhat flexible with hours submissions. Due to the high volume of business during the last two weeks of the year and banking days during the holidays, late timesheets can not be accepted. Timesheets must be received no later than 12:00 noon on Tuesday Dec 26th and Jan 2nd. For pay dates other than Fridays, please ensure timesheets are submitted on the Friday before each holiday (Dec 22nd and 29th).
Please review all employee data to ensure accuracy of employee W2 forms including employee name, address, and social security number. The Social Security Administration may assess penalties on employers reporting wages under inaccurate and/or invalid social security numbers. For assistance in validation of social security numbers, you may access the Social Security Administration website at SSNV.
W-2 Processing for 2017
ShaBro will prepare W-2s during the first two weeks of January. You will receive employee W-2 forms stuffed/sealed and ready for mailing and/or distribution to each of your employees.
Due to the heavy processing volume during December, we ask that you contact us to schedule and/or make us aware of any additional or special processing needs that you may have. Our goal is to ensure that you continue to receive the quality care and service you have come to expect from ShaBro.
Items for which you may have additional processing needs are:
Please use the Earnings/Deductions Reporting Form to report any of these additional items. This Form is available by contacting Shabro Alternative Solutions
Optional Year End Services for Independent Contractors ShaBro is capable of producing 1099-MISC forms for vendors/contractors who earned greater than $600 in 2017. There is a fee of $75 for this service. In the event that your 1099-MISC requirements exceed 25, there will be an additional charge of $5.00 per form. Please contact the office for further information on this service. Please note: The list of providers and amounts must be received no later than Monday, January 15, 2018, in order to produce by the January 31st deadline.
2018 State Unemployment Rates
The state agencies will begin distributing notices informing employers of their re-employment rates for the 2018 tax year in December. Please be aware that the states, generally, do not inform ShaBro of these rates. We ask that you forward or fax to (239)236-1589 any rate updates to us upon receipt so that we can update your account accordingly. No January 2018 payroll will be processed without this notice being provided to ShaBro.
All clients will be rolled to the 2018 tax year immediately following their last payroll processing in December. We will also begin processing and printing quarterly and annual tax returns and W-2 forms. As a result, additional fees will be assessed to reopen the year for adjustments. We are aware that some of the items listed above may need to be processed in supplemental processing schedules or may not be provided to you until after your final payroll runs and we are sympathetic to that need. Under these circumstances, please notify us immediately of any special needs so that we can work with you individually.
To avoid incurring penalty and interest charges from tax agencies, we ask that you report supplemental 2017 payroll information to us no later than 12pm on Wednesday, December 27th. Due to certain tax filing deadlines that apply; there may be a need to file and amend returns if information is not provided within a reasonable timeframe.
Thank you for your business in 2017. We look forward to our continued relationship in 2018.
Shabro is a virtual back office for small companies that have less than 25 employees. We can handle all of your payroll activities so that you don't have to worry about getting that quarterly report done.
We handle bookkeeping and regular accounting work and we become the liaison between you, the business owner and your tax preparer. We also ensure your employee matters are handled and can help them understand how your business runs. We can also write your employee manual and help get it approved for the legal terminology.
Shabro is your right hand person with the back office experience you need so that you can focus on what you do best which is running your business and you can trust Shabro to handle the rest.