Set up a Payroll System

As a new online store owner, you’ll likely be a one-person show. However, maybe you’ll hire a part-time employee to help you out, or a freelancer to design your logo. Right away, you need to establish whether that individual is or For employees, you’ll need to decide on a payroll schedule and ensure that you’re withholding the correct taxes; there are lots of that can help with this. For independent contractors, be sure to track how much you’re paying each person. American business owners may be required to file 1099s for each contractor at year end (you’ll also need to keep their name and address on file for this!).