- quote -

You need one NOW, not later. Now one can help you plan;
later one can only give you bad news and try to help you
unlearn some bad habits.

Carol

My mind not only wanders, sometimes it leaves completely.

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"Cognition LLC" <cognition.llc[at]gmail.com> wrote

- quote -

Required expenses:
Salary or wages
Payroll tax (matching FICA and Medicare)
Payroll tax (Federal Unemployment Tax)
Payroll tax (State Unemployment Tax)

Maybe required by state/local law
Workers Comp Insurance
Disability Insurance

Mostly optional
Health Insurance
Pension plan
Other benefits

Please note there are lots of other expenses that "tick up"
as you add employees.

--
Paul A. Thomas, CPA
Athens, Georgia
taxman at negia.net

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Cognition LLC wrote:

- quote -

Others will be able to give you better information about the
specific costs you will incur.

As a small business the additional paperwork getting it all
done can be expensive, too. There are companies that are
set up to do all the payroll work, and often can do it for
significantly less than if you were to bring that work in
house.

There may also be employee leasing companies around, who
will in essence hire your employees and then lease them back
to you. The benefit of that is the employees may be able to
get better benefits (e.g. health insurance) for a better
price than if you were to be the actual employer.

Stu

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I've a small business recently started. So far we have no
employees, mostly contractors. Now we would like to start
employing directly.

We have no CPA yet, would like to go for one in future.

Mean while we would like to know what are the expenses one
should expect to employ a person. I appriceate your help.
The company is registered in Denver, CO.

TIA,
Raj

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