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Posting job listings and interviewing candidates are the first steps toward hiring a new employee. Before your new worker can be added to the payroll, state and federal law require you to have paperwork certifying their right to work and calculating their withholding tax. As soon as your new hire accepts the job offer, having them fill out the proper forms will make things easier for your business accountant and avoid potential problems with the IRS later on.

3 Critical Pieces of New Hire Paperwork

1. Form W-4

With this certificate, new employees designate their filing status and the number of exemptions they claim on their returns, allowing you to determine how much income tax to withhold from each paycheck. Some states, including North Carolina, require every business to report new hires by submitting a copy of their W-4, along with other identifying information. If you’re not sure about your state’s reporting requirements, your business accountant can help guide you through the process.

2. Form I-9

business accountantsBefore a new employee can begin working, employers are required to check their identification to ensure that they’re authorized to work in the U.S. Acceptable forms of identification are listed on the form, which doesn’t have to be submitted to the government. However, you should keep it in your records for at least three years after the employee’s start date or one year after their employment ended, whichever is later.

3. Job Application Form

Even if you have already reviewed the applicant’s resume and made a job offer, you should still have them fill out an application. This gives you access to their work history and other verifiable information and ensures that any privacy notices, non-compete agreements, and required notices are signed.

 

For over 40 years, the business accountants at Sharrard, McGee and Co., PA have provided their clients with detailed services in a wide range of areas, from tax preparation to new hire regulation compliance. With offices in High Point and Greensboro, they serve businesses throughout the Triad area, where they’ve established a reputation for individualized attention and customized solutions. Visit their website for an overview of their business services and get more advice on Facebook. To schedule an appointment at their High Point office, call (336) 884-0410, or contact their Greensboro location at (336) 272-9777.

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