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What is everything you should know about making w2’s when you recently opened anew business within...

What is everything you should know about making w2’s when you recently opened anew business within the past month. Also what to know so one won’t have to pay taxes.
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Answer #1

W-2 form formally called the "wage and tax statement" details that is made by the employer about compensation has been paid.

Some important point to be know about how to make w-2 form.

(1). W-2 contains all information about your taxes and huw much you earned in the previous year.

(2). It just not about employees earnings but it also how much you contribute in the different plan and fund of the employees such as life insurance and other retirement plan and how much employees paid.

(3). W-2 for not issued confidentially, its is required to send some state and local legal taxes authority.

(4). Employer generally need to send W-2 in the last period of the financial year. That is January and February.

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