My business is in Rhode Island. I know that you don't file taxes in Rhode Island, but does the monthly fee include Wave paying monthly and annual federal taxes?
Also, if I already paid an employee using a different payroll service earlier this year, will I be able to include these payroll taxes in the annual W-2 that would be issued at the end of the year?
Hi @CEW In any state where Wave doesn't offer Payroll Tax Services, including Rhode Island, the subscription fee will include these services:
Enable direct deposit to your employees
Calculate your taxes owing and tax payment reminders (viewable in Wave from "Payroll > Taxes")
W2/W3 Forms and 1099-NEC Form generation at year end (downloadable under "Payroll > Tax Forms")
However your business will be responsible for making your payroll tax payments, as well as generating and filing your federal 941/940/944 and state forms manually outside of Wave.
If you're switching to Wave Payroll mid-year, you can absolutely enter your employee's prior wages and tax deducted at the time of setting up your account under Payroll History Import. The information entered there will be included in their W-2 at year end
Comments
My business is in Rhode Island. I know that you don't file taxes in Rhode Island, but does the monthly fee include Wave paying monthly and annual federal taxes?
Also, if I already paid an employee using a different payroll service earlier this year, will I be able to include these payroll taxes in the annual W-2 that would be issued at the end of the year?
Hi @CEW In any state where Wave doesn't offer Payroll Tax Services, including Rhode Island, the subscription fee will include these services:
However your business will be responsible for making your payroll tax payments, as well as generating and filing your federal 941/940/944 and state forms manually outside of Wave.
If you're switching to Wave Payroll mid-year, you can absolutely enter your employee's prior wages and tax deducted at the time of setting up your account under Payroll History Import. The information entered there will be included in their W-2 at year end
Please refer to guide on setting up your Wave Payroll account: Welcome to Wave Payroll
Does the $20/month base fee include your first employee? Or is the minimum amount required to actually use the service $26/mo?