S Corp Payroll Setup for 1-person S Corporation - Explained

"so if you're gonna choose gusto or QuickBooks I mean generally that's gonna be running you about 25 a month to $50 a month just depending on the service plan"

"you know the mid-tier version or the most expensive version I mean it depends on what point in time that you're watching this video but generally you're gonna be wanting to select the middle option that is not the most expenses but it's not the cheapest because that's gonna give you everything that you need without all the bells and whistles"

"my recommendation if it's just going to be you as the only employee of your S corp it's to run a monthly payroll because you don't want to be going into the software if you do bimonthly or bi-weekly I mean you don't want to be going into the software twice a month to run the payroll on yourself you might as well just do monthly so that you can just do a payroll just once a month"

"you need to get your registrations done with your state that's the Department of Revenue so what do I mean by that let's just say okay there are some states where there's no state taxes so you would not be holding state taxes as the employee nor as the employer so even if that's the case you still have the state unemployment tax reporting obligation payment obligations so you still need to complete your state registration setup with the Department of Revenue or unemployment or both so that you can have those account numbers and those tax rates linked up to your payroll software"

"so this eliminates the need for you to manually be sending in those tax deposits on a monthly basis and also they were it just eliminates the need for you to be filling out those PDFs and sending those in to those three agencies on a quarterly basis"

"so make sure you choose the option where it offers the payments option and the efiling option because those are obligations that you need to do along with your payroll"

"So if you're gonna choose gusto or QuickBooks I mean generally that's gonna be running you about 25 a month to $50 a month just depending on the service plan"

"The most popular softwares out there would be the quickbooks online payroll the QuickBooks payroll or gussto"

"my recommendation if it's just going to be you as the only employee of your S corp it's to run a monthly payroll"

"just make sure that you don't choose the very cheapest option that does not allow you to do the payment methods for the tax deposits nor the efiling methods weather reports"

"if you choose the more expensive options you know other pair of providers they could be charging you as much as $100 a month you know just for you one employee"