Does GoCo capture State, Federal, and Local taxes?

GoCo houses all of your payment information, but what about tax information?

Depending on your company's settings GoCo can capture both federal & state taxes and generate the necessary forms for your employees. Keep reading to learn more and skip around in this article by using the navigation tabs below.

• Adding Tax Documents to Hiring Workflows
• Tax Witholding
• FAQ

Adding Tax Documents to Your Hiring Workflows

When hiring you collect federal & state tax withholdings by sending an employee a W-4. To add the W-4 to your hiring workflow simply navigate to your Workflows app.

Under Hiring Workflows click on the ellipses to the right of the workflow you wish to add the W-4 form to and click "Edit Template". 

Then click on "Customize" on the Documents card in the hiring section of the workflow.

Then Add Documents (by default GoCo will have it listed under Government Forms).

 When you are finished, simply hit "+Add Document"!

Tax Withholding 

You have the option to choose whether to collect State & Federal tax withholdings in the hiring workflow. By default, this feature is turned on and can be managed in the Tax Withholdings card under the onboarding section.

If you choose not to collect certain withholdings GoCo will provide you with a warning like so.

Gusto & GoCo

When it comes to local taxes, GoCo will capture and host them. Go to your payment and tax card on your employee profile to adjust.

Step 1: Expand payment and tax card

Step 2: Make adjustments

 

GoCo uses state and federal W-4 forms to collect employee withholding information for payroll purposes only and does not necessarily collect all the information required by a particular state. Thus W-4 forms downloaded from GoCo, may not be complete from a tax compliance perspective and should not be used for tax purposes or submitted to tax agencies.

For any follow-up questions please contact your payroll specialist or email us at help@goco.io! 💚

 

Published 12.20.2023