Gusto Year-End Spot Check details

Click on the Complete your 2017 Spot Check sticky-note that appears on your Dashboard to answer some questions about your payroll. This info helps Gusto gather everything we need to do your year-end filings correctly. 

People, Paystubs, and Benefits

Not all of these questions will apply to your unique situation.

  1. Have you added all of your current employees to Gusto?
    • We need all of your employees to be added to your account so your W-2s are prepared correctly.
    • Please add any current employees that are missing into your account. We recommend that you skip employee self-onboarding. Also, gather all paystubs for these employees in 2017 so you can provide them to our Care team, who can assist with entering that data.
  2. Have you added all of your employees who were dismissed in 2017?
    • We need all of your dismissed employees to be added to your account so your W-2s are prepared correctly.
    • Please add any dismissed employees that are missing into your account. Next, dismiss each employee with their correct termination date. Also, gather all the paystubs for these employees from 2017 so you can provide them to our Care team, who can assist with entering that data.
  3. Have you added all payroll, bonuses, and commissions paid earlier this year?
    • We need to make sure we have a record of all payrolls you have run in 2017.
    • If you haven't recorded every 2017 payroll in Gusto, please gather the amounts, dates, and recipients that are missing. Our Care team can assist with entering this info.
  4. Have you added all of your fringe benefits?
  5. Have you added all of your independent contractors to Gusto? 
    • We need info for all of your contractors so we can file 1099 forms.
      • This question will only appear if you have one or more contractors added to your Gusto account. 
    • Please add all missing contractors to Gusto and add any historical payments from 2017. If you don't want us to file a 1099 for any of your contractors, let us know.
  6. Have you added all of your dismissed employees' paystubs to Gusto?
    • We need all info about dismissed employees so your year-end tax forms are correct.
      • This question will only appear if you have one or more dismissed employees in your Gusto account. 
    • Please add any dismissed employees that are missing into Gusto now. Next, dismiss each employee with their correct termination date. Also, gather all of the paystubs for these employees from 2017 so you can provide them to our Care team, who can assist with entering that info.
  7. None of your employees relocated for work in 2017 before you switched to Gusto. Is that correct?
    • We need to know if anybody moved so we can verify their state taxes are correct.
      • This question will only appear if no changes have been made to work and home addresses for all employees.
    • If any addresses have changed in 2017, please ensure that the correct addresses are in Gusto.

Special Employee Compensation

If any of the following apply to your company, we will follow-up with a questionnaire to gather information about the values. 

  1. Relocation Expenses
    • This is money your company paid for an employee relocation. These moving expenses have to meet a certain set of criteria to be considered non-taxable. Check out IRS publication 521 for more details. 
    • Provide us with the year-end excludable moving expenses if this applies to you.
    • These amounts will appear in Box 12 on Form W-2.
  2. Child & Dependent Care
    • This is money you gave your employee to use to take care of their dependents, like infants or the elderly. Amounts under $5,000 that meet IRS criteria are non-taxable.
    • Provide us with the year-end dependent care benefit amount if this applies to you and these are only company contributions.
    • These amounts will appear in Box 10 on Form W-2
  3. Allocated tips
  4. Untracked Health Insurance
    • Gusto tracks health insurance and automatically records the information on employee W-2s. However, if you have any company health contributions which are not tracked within Gusto, then they will need to be added separately.
    • Provide us with the year-end untracked health insurance amount if this applies to you and if these are only company contributions.
    • These amounts will appear in Box 12, Code DD, on Form W-2.
  5. Nonstatutory Stock Options (NSO)
    • For each employee or former employee that exercised an NSO in this calendar year, please enter the amount by which the fair market value of the stock underlying the NSO, on the date the NSO was exercised, exceeds the exercise price of the NSO. If the employee had multiple NSO exercises, aggregate the amounts of each exercise.
    • The amounts entered will be included on the W-2 forms of the respective employees (or former employees). 
      • If you're uncertain about the exact amounts to enter, please consult your CPA.
    • Example: John Smith exercised an NSO for common stock of a company in this calendar year. John’s NSO exercise was for 100 shares and the exercise price was $1 per share. On the date that John exercised his NSO, the fair market value of the company’s common stock was $2.50 per share. In this case, $150 ($2.50 fair market value - $1 exercise price = $1.50 x 100 shares) would be included on John's W-2 form for the NSO exercise.
  6. Small Employer Health Reimbursements
    • If you have a Health Reimbursement Arrangement (HRA) please enter the amount of your qualified reimbursements for the year. Learn more in IRS Publication 969.
    •  These amounts will appear in Box 12, Code FF, on Form W-2.

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