Yes! Wrapbook and TakeOne are one entity. We updated our name on May 1st, 2019.
Signing up for Wrapbook takes ~120 seconds. You only need to pay a small setup fee and enter your business information including your EIN.
If you are signing up for Wrapbook complete, it will then take 2-3 business days to approve you for workers compensation insurance.
In order to get the most out of your Wrapbook experience, please email us once you have completed your signup so that we can set up an onboarding call and walk you through the product!
A loan-out typically means an individual has formed a business and has an EIN. When paying a loan-out, they will be classified as a contractor, receive a 1099-MISC against their EIN, and no employer payroll withholdings will be owed.
It is also worth noting that minors who are actors in NY, CA, LA and NM who also have a loan out will be expected to make their own deposits to their Coogan Trust accounts.
When one pays an employee, states and the federal government require employers and employees to pay taxes.
For instance, if an employer pays an employee $1,000 in gross wages - the employer may owe $150 in employer taxes and the employee may owe $100 in employee taxes. This means that the employer will pay out $1,150 and the employee will receive $900. Then, all the taxes are sent to state and federal governments.
We recommend estimating your payroll to get a precise idea of how much employer tax to expect.
Currently Wrapbook supports SAG-AFTRA, DGA, IATSE, and Teamsters. Please email us if you have questions on support for other unions.
Wrapbook supports customers either wiring funds to Wrapbook or having Wrapbook pull funds from your account via ACH.
Yes! Wrapbook automatically handles all state and federal payroll reporting on your behalf including, but not limited to, state unemployment, W2s, and 1099s.
The setup fee is a one time fee per company. Once you pay the fee and signup your company, you will not owe any additional fees until processing payroll or purchasing other services.
No, Wrapbook does not require a payroll bond.
You only pay processing fees based on what you process. If you don’t use Wrapbook for a month, year, etc. then you won’t owe any processing fees.
We support direct deposit to US bank accounts and mail paper-based checks within the USA.
For the vast majority of new users, they are excited that it only takes ~120 seconds to onboard. They love being able to track the status of their payments and ultimately get paid quickly.
It takes 2-4 business days for someone to receive payment from the time the payroll is processed by employer. If someone elects to receive a paper check, it will take longer for the check to be received through the mail.
Wrapbook does support international production payroll for US based employers bringing US based employees working overseas. Employees must have US addresses and US bank accounts.