After-the-fact payroll is common necessity in micro-businesses doing late tax planning. There are a few points that complete the process easier.
- If this is the first time the company is setting up payroll, registration with federal and state government is required.
- The price of payroll software and service providers increased to more than $1000 per year. There are a few ways to reduce that cost for simple transactions.
- Penalties are triggered by late filing. These penalties can often be waived.