- Set up payroll right as soon as you incorporate. The number one no-no as a startup founder is thinking you can just take care of payroll later. WARNING: attempting to retroactively report your payroll and payroll tax as a startup is expensive, time-consuming, and painful. So after you’ve incorporated and set up a bank account… set up payroll with Gusto. It’s super easy to DIY. Even if you don’t use it, the $45/month is pocket change compared to how much you’ll have to pay a payroll expert to fix it later.
- If you didn’t… then contact scott@payrollmatters.com. He can get you caught up but it isn’t cheap. It is, however, absolutely worth it and 100% necessary. Your ordinary bookkeeper or CPA won’t be able to do these payroll tax filings as it requires very bespoke expertise. My firm has managed the books/taxes for over 1000+ startups and we won’t touch payroll tax. It’s so sensitive and important that it truly requires the help of an expert.
- Going forward, use **Gusto**
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About the authors
Vanessa KruzeFounder & CEO
Vanessa Kruze, a seasoned CPA, has an impressive track record prior to establishing Kruze Consulting. Her experience includes pivotal roles at Deloitte Tax and as a controller for a substantial startup with over 120 employees and $20 million in revenue. Under her leadership, Kruze Consulting has emerged as a distinguished CPA firm, recognized on the Inc 5000 list for five consecutive years, illustrating rapid growth and success in the competitive accounting landscape. Vanessa's unique approach, combining deep industry knowledge with advanced automation and software solutions, has positioned her firm as a leader in providing comprehensive accounting services to startups across the United States.
