Payroll Processing
Payroll processing can be done daily, weekly, bi-weekly (every other week), semi-monthly (twice a month) or monthly as well as bonuses too. We can process the payroll for you in house so all you have to do is sign checks and hand them out. We will also prepare your federal and state tax deposits to ensure they are done on time to avoid any interest and penalties to help save you money and headache. You can rest assured that you'll be in compliance with the ever changing tax rates, minimum wage laws as well as any other changes that occur throughout the year. Direct deposit is also available for an additional fee

Quarterly and Annual Reports
We can prepare all of you federal and state quarterly and annual payroll reports along with your payroll or just your quarterly and annual reports if you want to prepare payroll yourself. There are very strict time frames associated with your mandatory reporting so you want to make sure you always file on time. You can be confident knowing that your obligations are being met accurately and timely.

W-2's
Information coming soon...

Corporate Auto Use
A limited liability company (LLC) may write off 100% of a vehicle's cost using a Section 179 deduction.

S. Corp Health Insurance
A shareholder may claim an above-the-line deduction, the health insurance premiums must ultimately be paid by the S corporation and must be reported as taxable compensation in the shareholder's W-2.

Retirement Plan
Retirement Plans recommended to S Corp Shareholders Traditional IRA: A tax-advantaged personal savings plan where contributions may be tax-deductible. ROTH IRA: Tax-advantaged personal savings plan where contributions are not deductible but qualified distributions may be tax-free.

Cafeteria Plan (Section 125)
A Section 125 plan Health Flexible Spending Account (FSA) allows employees to use up $3,050 (2023 plan year) in pre-tax dollars to pay for eligible out-of-pocket medical, dental and vision care expenses not covered by other insurance.

Dependent Care
The Dependent Care FSA (DCFSA) maximum annual contribution limit did not change for 2023. It remains at $5,000 per household or $2,500 if married, filing separately. The minimum annual election for each FSA remains unchanged at $100.

phone: 541.733.5578  |  fax: 866.602.6492  |  info@BizzyBeeBookkeeping.com  |  PO Box 141  Post Falls, ID 83877
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