Now that 2022 is coming to an end, there are a few important tasks for you to take care of to start the new year on the right foot.
Encourage your workers to access their Forms 1099 and W-2 electronically. Forms will be provided to your employees and contractors electronically via Homebase. If employees select to receive a paper copy, you can print out these forms yourself and provide those to your team.
W-2/1099-NEC Paper Delivery for Employees
See W-2s before they are finalized. We now provide the ability for you to review W-2s before they are filed by Homebase.
Tell us about any state unemployment insurance (UI) rate updates. State UI rate changes commonly come out between November and March. If your business experiences a rate change, you must inform us before we file your Quarter 1(Q1) taxes in April.
Be sure to check your 2022 payrolls for accuracy. Some common things to check are:
- Be sure that all of your employee and contractor information is up to date. Check every person's legal name, home address, and last 4 of their Social Security Number.
- Each person’s legal name must match what is printed on their Social Security card.
- If your employees/contractors worked from home or another remote location for part of the year, it’s important that you let us know before December 31st so we can make sure taxes are calculated and paid correctly.
- Check that all payrolls and contractor payments have been entered into Homebase. If you made any payments outside of Homebase with a pay date in 2022, you must let us know about those payments before the end of the year.
How to Add Unreported Manual Checks
How to Add 1099 Contractor Payments
3. Make sure that all benefits have been entered into Homebase. This includes employee deductions and employer contributions for all benefits. Some examples of benefits you may have: health insurance, group term life insurance, and third party sick pay.
How to Add Third Party Sick Pay (disability payments)
Adding Fringe Benefits and Special Earnings
4. If you are paying out bonuses or maxing out retirement plan contributions, make sure they are paid out in a payroll with a pay date in 2022.
Gross Up Bonuses/Commissions (Net to Gross)
Need more help? Read the articles below for more year-end helpful hints and additional resources.
Year-End Calendar for 2022-2023
How to add an employee to payroll
Correction payrolls after December 30th
Accessing and Distributing W-2s/1099s
Still have questions? Feel free to reach out and we’d be glad to help!
To contact support, click here to log in or email us at payroll@joinhomebase.com