A Power of Attorney (POA) is a legal document giving one individual the power to act on behalf of another individual under certain circumstances. A POA ensures that administration of your financial or personal affairs continues, even if you are incapacitated or unavailable. You should recognize when they may require a power of attorney, understand how POA’s […]
If you’re looking for a new place to rent, you will most likely be required to show proof of income to your potential landlords. There are many ways that you can show proof of income. Your landlord may request a specific method for proving your income before accepting you as a tenant, so you must stay aware […]
If you own a small business or are a freelancer, you are probably familiar with IRS 1099 forms. In 2020, the IRS released a new 1099-NEC based on adjustments to the 1099-MISC form, which is now used to report miscellaneous income, such as rent or legal settlements. Small business owners who employ independent contractors must be informed […]
As an employee, you can expect your employer to provide you with your W-2 form at the beginning of every year, which will detail the income from your previous year’s employment. However, there may be times when you need a copy of an old W-2 form from a previous job. As much as we know that we […]
Starting a business is exciting, but it can also be confusing and daunting. If you’re unsure if you should create an operating agreement for your limited liability company (LLC), the answer is yes. Do you need one? 100%. Absolutely. Every business that registers an LLC should create the operating agreement while in the very early […]
Most people borrow money or take out a loan at some point in their life. A car loan, a mortgage to finance a home purchase, a student loan to cover tuition and other education fees, or a short-term bank loan to cover any number of planned or unexpected expenses, we all borrow money at some […]
To avoid unwanted Internal Revenue Service (IRS) penalties, it’s important that employers complete W-4 and W-2 forms at the end of each tax year. However, knowing what each form’s requirements are and the differences between them can be challenging. This is especially true for a small business without a large payroll department. This article will […]
If you’re looking for a new place to rent, you will most likely be required to show proof of income to your potential landlords. There are many ways you can demonstrate this proof of income, pay stubs being the most common. Keep reading to learn how to get pay stubs as proof of income for a new […]
As a small business owner, calculating payroll yourself can be challenging and complex. Payroll not only involves paying your employees, but it also requires you to keep up with the latest labor and tax laws. To prevent serious problems when running payroll, you must understand how to set up an accurate payroll system and the […]
If you are in the market for a new car, you may be considering applying for an auto loan. Not everyone understands how auto loans work, including how banks verify income for an auto loan. If you have a less than impressive credit score, your income is the first thing that banks look at when […]
