Payroll

Payroll from Scratch: How to Set Up and Run Your First Payroll

You've hired your first employee, congratulations! Now comes the big question: how do you actually pay them? Setting up payroll from scratch can seem intimidating, with its mix of tax forms, calculations, and deadlines. This guide is designed for the absolute beginner, breaking down the entire process into simple, manageable steps.

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The Takeaways

  • Getting the necessary federal and state tax ID numbers for your business.
  • Collecting the right information from your new employee (like their W-4).
  • A simple breakdown of how to calculate a paycheck, including withholdings.
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, legal or tax advice. If you have any legal or tax questions regarding this content or related issues, then you should consult with your professional legal or tax advisor.
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