I need to create a pay stub for my employee, she is taking out a loan and they asked her for a recent pay stub with YTD earnings...I would like to know how to I go about creating one, what should be included in this pay stub, I just usually give her a personal check, so I have never done this before...I need help!!
2006-12-27 09:34:54 · 5 answers · asked by Heafelomins 1 in Business & Finance ➔ Small Business
Name , her soc #
your compant name
2006 pay to date
gross income to date
medicare to date
soc sec to date
state taxes to date
county taxes to date
fed taxes to date
other deduction to date
and than net pay to date
I just do it in an Excel spreadsheet
2006-12-27 09:39:32 · answer #1 · answered by G L 4 · 0⤊ 0⤋
I agree with the first person use your cancelled checks, and write a letter of employment. If this person does not pay taxes then you should not create this document for fraud issues. It is the employees responsibility to report all earned income. Your only job is to provide proof of employment, and or proof of how much the person gets paid.
I would not dummy up a document for the employee. Tell her there are books that she could but at Office Max that cost $4.00 and she can create her own pay stub, and you will provide the proof of employment.
This is legal on your end.
2006-12-27 17:43:33 · answer #2 · answered by Meko 2 · 1⤊ 0⤋
Is she a 1099? If so...then the only thing she would need to bring in is a copy of her 1099 and then submit all earnings...
But if you are doing this as an employee not a contractor...then you it bewilders me that you are doing something illegal of not properly taking out taxes. This could get yourself into alot of problems. I work in taxes and you could suffer large penalties.
However, from your question it sounds like you did not properly hire her or that you need to right away fill out a 1099 for her. And a bit of advice for her if she wants to take out a loan is provide two years of her 1040 or 1041. That is sufficient, however, some banks require more. I usually provide banks with at least 2 years worth of filed tax returns to them and that is sufficient.
2006-12-27 17:40:11 · answer #3 · answered by mailjunkie123 3 · 1⤊ 0⤋
They are using the term pay stub. What they need is an official record of their payroll. That would include the gross, the FICA, Federal tax withheld, State tax withheld, and the net payroll. If you provide that on your letterhead with a signature, that should do the trick.
2006-12-27 17:37:42 · answer #4 · answered by united9198 7 · 1⤊ 0⤋
Use your canceled personal checks or their images.
2006-12-27 17:37:05 · answer #5 · answered by Johnny Q. 3 · 0⤊ 0⤋