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Accounting, Payroll & Pension Issues/payroll for sole proprietorship
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Question
hello ! my husband has a sole proprietory business he is the only person & i do the office work. we do not draw a regular salary, just what ever is needed. our health insurance (we live in New Jersey) is now asking for payroll verification (W-2 or Wr-30) since we do not draw a regular salary, we are not sure at all how to do this ? any help will be appreciated.
thanks,
June
Call the insurance carrier and tell them same thing. Ask what will pass as a substitute for a W2. I'm not sure about NJ regulation.
Check out http://www.state.nj.us/njbgs/formwr30.html
Another step might be to check with the state regulator at http://www.nj.gov/dobi/reform.htm
Good luck
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Accounting, Payroll & Pension Issues
Answers by Expert:
Ed McFarland
Expertise
Over 20 years of experience as a CFO, Controller and now Consultant to small businesses. Dealt with 401k, 403b, deferred comp plans, key man issues, disablity, business continuation plans, HSA plans and other benefit issues.
Experience
Management experience in Financial Services, Manufacturing, Media, Logistics. Taught graduate and undergraduate business courses.
Education/Credentials
MBA
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