Before Hiring Your First Employee

Making the decision to hire your first employee is a celebratory milestone for your wedding business. Especially if business is booming and you could use a hand with the workload, then hiring some assistance makes sense. Before starting the hiring process, ensure that you are compliant with your state and federal regulations. Read on for tips on what to do before hiring your first employee.

Get an Employee Identification Number

According to Sba.gov, it is advised for businesses hiring employees to attain an employee identification number or EIN from the Internal Revenue Service. The EIN is necessary for tax and administration purposes for the IRS and state agencies. Form SS-4 is used to apply for the Employer Identification Number. You can apply for an EIN online or by contacting the IRS.

Employee Eligibility

Verify employee eligibility to work in the United States by checking for documents that confirm citizenship or eligibility to work in the United States. After hiring an employee, you must within three days complete a Form I-9 to indicate you have examined and confirm the appropriate documents. A list of approved employee eligibility documents is listed on the I-9 form. Obtain a Form I-9 online or from most state or government offices.

Withholding Taxes Records

Record keeping is vital; the IRS requires that all businesses must keep records of employment taxes for at least four years. There are three types of withholding taxes: Federal Income Tax Withholding, Federal Wage and Tax Statement and State Taxes, depending on the state’s income tax requirements.

Worker’s Compensation Insurance

Businesses with employees are required to obtain worker’s compensation coverage. The insurance may be attained through a commercial carrier, self-insured basis or via your state’s worker compensation insurance program.

New Hire Reporting Requirements

Report newly hired employees to your state directory within 20 days of the hire date. Each state offers specific requirements regarding mandatory forms and records that need to be completed, check with your individual state for more information.

Tax Filing Requirements

Take the time to understand the tax filing requirements for employers who pay wages. This instructional information may be obtained by consulting the Employer’s Tax Guide also known as Publication 15 found on the IRS website and certain government offices.

Workplace Posters

All employers are required to display certain posters in the workplace for the purpose of informing employees of their rights and responsibilities under labor laws.

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Request Exhibitor Information Here

References

Hiring Employees
SBA.gov: Hire Your First Employee
Employer’s Tax Guide
Apply for an Employer Identification Number
Workplace Posters