Making wage reporting profitable
Reduce labor. Reduce time. Reduce costs.
Time vs. Money
As with most business decisions, there are often two prominent variables in wage reporting: time and money.
There are many software programs that will help you increase efficiency and decrease time this tax season, but what are the tradeoffs? Is it worth a few extra dollars to keep your sanity intact? With the hectic pace of business today, can you afford not to reduce the time you spend on tedious tasks? These are good questions that deserve some attention. It is well worth the thought to get it right this year. You'll set a good foundation that will make future wage filing easy for years to come.
Using the right tools is the key to increasing efficiency
No matter how you're filing W-2s and 1099s, there is at least one way to improve the process and save yourself some time. Some options are so efficient you'll be home relaxing on January 31!
W-2 & 1099 Software
Some software programs allow you to e-file with the IRS and SSA – no red forms needed
Use software programs that print and mail recipient copies for you, such as Winfiler
Use condensed forms to print all copies for one recipient on the same page; you won't need to separate and collate forms
Use self-seal envelopes
Printing a large volume of forms? Consider pressure seal. For a small investment in equipment you save hours of time.
Printing only a few forms? Consider an online service like FileTaxes.com. There's no hunting for forms or purchasing expensive software, everything is taken care of for you.
Reminder: The IRS and SSA are no longer accepting magnetic media disks for filing federal Copy A forms. Employers with 250 or more employees must e-file or upload W-2s and 1099s in 2007.
Whether you save time or money this year, filing W-2s and 1099s for clients can be profitable. The key is maximizing efficiency. Avoid keying data, stuffing envelopes and searching for forms and this tax season will be a little less stressful.
This article has been provided by Greatland Corporation. For more than 30 years, Greatland has developed compliant electronic and paper documents for small businesses and mortgage and financial institutions. Today, Greatland is an established leader in document innovation by offering forms technology, compliance expertise and software compatible products and services for various business management applications. Greatland's product lines include electronic document management tools, electronic forms, electronic filing services, printed wage and income reporting forms and supplies, printed mortgage and banking documents, checks, tax preparation software and supplies, and other business software applications. For more information about Greatland Corporation, call 800-968-1099, or visit www.greatland.com.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.