Year-End Best Practices Guide to Help Tame the Chaos

 

Things to Check Off Your List

Because nothing feels as good as a

We like to feel accomplished, but sometimes a task like, "close payroll for the year" seems to have so many places where hiccups can occur (not just from the eggnog!)

The following resources are tools to help you close your year-end without much ado:

 

Three-Step Guide to a Successful Year-End
Thread Employee Add/Change Form
Thread YE Payroll Checklist
2021 Form W-4
Georgia State Withholding Form G-4
A pre-written email to copy and paste to your employees

COPY & PASTE CONTENTS AND SEND TO YOUR STAFF

It's year-end, and as we're closing the books, it's important to make sure everything is in order. Please review your paystubs and check for accuracy in the following areas:

  • Name Spelling: name changes due to marriage or divorce, etc. all need to be verified to match prior-year tax returns or you should have supporting documentation otherwise.
  • Mailing address: Especially if you have recently moved or are moving within the first six weeks of the year, please make sure to update your address ASAP.
  • Social Security Number: Login to your account or verify with HR - if your SSN is off by even one number there could be penalties!
  • Taxable state: Please make sure that state taxes are being taken out for the state in which you live, and not necessarily the location of your workplace. If you see an error here, please alert HR.
  • Exemptions: Verify the number of exemptions being withheld from your taxable rate. If you are taking too many exemptions you may owe taxes. With only a few paychecks left in the year, we can't quite reverse the damage, but we can help if you need that status changed.

Thank you so much for your cooperation!

Plus, remember to have your Year-End Survey Completed by the first week in December, and any additional documentation to Thread no later than December 21st.

Hear more from Scott in this year-end HR Health Check-Up webinar!

 

Need some extra help with HR? A lot is changing with the pandemic and the political shift. Is your company ready to tackle the new changes? Do you have enough knowledge and hours on your team? If you need some help, check out our HR Consulting service, Thread Engage!

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