How to confirm your 2023 tax information

Through October – December, you’ll see various requests on your admin dashboard to review and update tax-related info. This will help make sure W-2s, 1099s and other tax forms are accurate.

As part of your dashboard to-dos, we'll ask you to make sure your 2023 tax information is accurate, and update team member information so that employees and contractors who need W-2s and 1099s receive them.

1. Make sure every employee and contractor (current and dismissed) who was paid this year has been added to Gusto
   • To check, click the People section and select Team members. To add anyone who’s missing, click Add a team member.
2. Make sure you’ve reported any payrolls run outside of Gusto (including dismissal payrolls, and if you’re new to Gusto this year, any payrolls processed prior to joining Gusto).
   • Download your 2023 payroll journal report to check. If you know something’s missing, enter a non-Gusto payroll.
3. Make sure you’ve added all your contractor payments to Gusto 
   • To add any missing payments, follow these instructions.
4. Make sure you’ve added any fringe benefits you offered employees in 2023 to Gusto 
   • Examples include use of a company car, gym stipends/memberships, relocation reimbursements, etc. To add fringe benefits retroactively to Gusto, follow these instructions.
5. Make sure you’ve added all your employees’ 2023 retirement deductions and contributions to Gusto
   • To check, run a benefits report and select “401(k) costs.” To add deductions or contributions retroactively to Gusto, follow these instructions.
6. Make sure all your benefit deductions and contributions are correct
   • To check, run a benefits report. To fix mistakes or add missing amounts, submit a benefit correction.
7. Make sure your employees’ work addresses are up-to-date (including anyone working from home)
   • To check, run a custom report showing home address and work address. To learn more about paying out-of-state employees, read this article. 

You'll also be prompted to let us know about special compensation your employees received in 2023.

Special compensation often doesn’t appear on paystubs, but we need to record it on your employees’ W-2s. In the Taxes & Compliance section, let us know if you offered any of these. We’ll ask for the specific amounts later on. 

• Relocation expenses
  • This is money paid to an employee to cover relocating for work.
• Child and dependent care
  • This is money paid to an employee to take care of any dependents. 
• Allocated tips
  • These are tips paid to your employees in addition to the tips reported on their paystubs.
• Simple Employee Pensions (SEP)
  • This is separate from any other IRA or 401(k) that’s processed as a regular benefit.
• Untracked health insurance
  • If your company offers group health insurance and makes pre-tax contributions to your employees’ premiums, we need to record those amounts. Check this box if those contributions aren’t set up in Gusto. 
• Non-statutory stock options
  • Sometimes called "non-qualified stock options" (NSOs), these are different from "incentive stock options" (ISOs), and are generally granted to employees, contractors, board members, etc. NSOs include income from exercising stock options.
    • Note: Reporting amounts in this field doesn’t adjust reported wages and taxes. Follow the steps in this Help Center if the wages haven’t been reported yet.
• Small Employer Health Reimbursement Arrangements (QSEHRA)
  • If you offered to reimburse your employees for medical expenses outside of Gusto, check this box.
  • Reminder: Gusto does not administer QSEHRA plans.
• Minister housing reimbursements
  • If you provided money to employees who are members of the clergy or religious orders for housing, enter each minister or clergy member's total housing allowance for the year (either money paid or the fair market rental value for housing in kind). This will appear on your employee's W-2 in Box 14.
• Third party sick pay
  • If you used a third party sick policy to pay employees and the policy requires you to report it on payroll.