To kick off the year, make sure your payroll is up to date and ready for 2014.
For our friends in Canada, that means updating employee TD1 forms. A lot can happen in a year, so have your employees fill out a new TD1. This will ensure that any changes they’ve made are accurately captured in their 2014 tax withholdings.
In the U.S., you’ll need employees to fill out a new W-4 to reflect any changes they’ve made throughout the year. You can find the new forms for 2014 on the IRS website: Form W-4 2014.
Once you’ve collected the new forms, updating the information in Payroll by Wave is easy!
Just select an employee from the Employees tab, and click Taxes in the left menu. You will be able to update any changes easily from this screen.
Need help? No problem. Just send us a note at questions.waveapps.com.
The information and tips shared on this blog are meant to be used as learning and personal development tools as you launch, run and grow your business. While a good place to start, these articles should not take the place of personalized advice from professionals. As our lawyers would say: “All content on Wave’s blog is intended for informational purposes only. It should not be considered legal or financial advice.” Additionally, Wave is the legal copyright holder of all materials on the blog, and others cannot re-use or publish it without our written consent.