Square Away Your End-of-Year Tax Forms

Posted on December 1, 2022

tax preparation ma

The end of the year is just a few weeks away, and for business owners, that means double checking your employees’ W-2s are all present and correct. The deadline for sending out your W-2s is January 31st of the year following the tax year. There are a few things you can’t do until the tax year is over, but you want to get as much out of the way as possible beforehand. If you need assistance with tax preparation in MA, you need ABC Payroll.


Here’s what you need to know to make tax preparation in MA easy.


Ensure your workers are classified correctly.

There are two primary types of workers: employees and independent contractors. Employees work directly for the employer. Independent contractors work for themselves or a third party and a business pays for their services. Before you send out tax documents, you need to ensure that all your workers are correctly classified in your records and on their forms.


Cross-check your W-4s.

When you initially hire an employee, they fill out a W-4. Before you issue W-2s, confirm that all the information on the W-4s is correct. For new employees, that is just a matter of double-checking that their address, social security number, date of birth, and other information is right. For long-time employees, you want to make sure that their address is still the same, they have not legally changed their name, or anything similar. Have your employees review their personal information and make any necessary corrections.


Get your payroll info together.

Finally, you need to collect all your payroll information. If you use payroll software, this should be easy to pull together. By you do need to make sure that you don’t miss anything. You need information about both your company and each of your employees. For your company, you need your employer ID number, the business address, and your state ID tax number, if applicable. For your employees, you need more information:

  • Gross pay
  • Federal income tax withheld
  • Social security wages
  • Medicare wages, tips, and tax withheld
  • Employee tips paid
  • Benefits paid, including to dependents
  • State wages and tips, and state income tax withheld


Get Tax Preparation in MA Done with ABC Payroll

Tax preparation in MA does have to be difficult when you have the help of ABC Payroll. Get in touch with our experts at 978-251-3003 to find out how we can help you and your business.