As the January deadline for issuing W-2s to your employees approaches, you may be interested in a few tips on preparing W-2s and the summary W-3 form. This information applies regardless of what system you use to produce your W-2s.
If your accountant is doing W-2s for you or you’re doing them by hand, you’ll need some payroll reports showing both the taxable earnings for each employee as well as the amounts withheld. Using Daycare Payroll Software from Procare, this information appears on the “Employee Earning / Withholding Summary” with all the detail you’ll need in a one-page-per-person format. If you don’t need that much detail, there’s also a single page report that includes all employees called the “Simple Withholdings Summary”. Continue reading