With the inclusion of the 1099-NEC tax form, the Internal Revenue Service (IRS) has changed how business owners and other taxpayers file for certain types of income and taxes. In the past, the 1099-MISC form was used to report income for independent contractors. Now the 1099-NEC is the new kid on the block and has […]
Whether you’re a business that creates the pay stubs or an employee that receives them every month, the various YTD abbreviations on a paycheck can be confusing. We’ve put this article together to help you make sense of the YTD abbreviation and what it means for your monthly income. Understanding YTD amounts is an important […]
Whether you are an employer, formal employee, or independent contractor, there are many important reasons why you should hold on to your pay stubs. Not only can pay stubs streamline tax filing, but they also help businesses to avoid legal trouble in the event of an audit. Individuals can use pay stubs to open bank […]
There are over 800 different Internal Revenue Service (IRS) tax documents in the United States. At the end of the tax year, it’s essential that you understand which forms apply to you and how to fill them out correctly. Two of the most common tax documents are Forms W-9 and W-4. Due to their similarities, […]
So, you’ve received your monthly paycheck and now you’re stuck wondering what all of the abbreviations mean. Luckily, we’ve put this article together to help you make sense of common pay stub abbreviations and what they mean for your monthly income and deductions. Not only is this critical for ensuring that the amounts on your […]
If you’re not prepared, tax filing deadlines can catch you off guard. Missing important tax dates can be frustrating and even lead to late penalties. The easiest way to avoid this is to take some time and save each relevant tax filing deadline to your calendar. We’ve put this article together to make it easier […]
If you’re a small business owner with only a few employees, it may be worth processing payroll on your own instead of hiring a payroll company or an accountant. However, processing your own payroll can be challenging if you don’t know every component of the process and errors to watch for. If you ensure that you […]
It’s difficult for employers to know what their pay stub obligations are, as there are different state and federal laws. Knowing your pay stub requirements by state will help your business comply with Department of Labor requirements and avoid costly penalties. This guide will outline everything you need to know about pay stubs, including how […]
Most people who have received a paycheck know what a paycheck stub looks like; however, not everyone knows the details that should be included on a pay stub. When you become an employer, it becomes more important to understand what a pay stub should look like. Keep reading to discover what a payslip should look like and […]
Good bookkeeping involves keeping records of every employee’s pay and providing each of your employees a breakdown of their paychecks. You can accomplish both of these tasks by generating pay stubs. Although there is no federal regulation on pay stubs, generating pay stubs for your employees can still help your business. Read on to learn how pay […]
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