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When you look at your paystub, you might wonder what the LTD under the benefits section means. LTD stands for "Long-Term Disability." It is a type of disability insurance that protects your ability to earn an income in the event you incur an injury or severe illness. Disability insurance provides income coverage after an elimination period for con...

A Limited Liability Company, also known as LLC, is a much easier business structure to set up compared to corporations, such as an S and a C corporation. It provides flexibility and protection for the owners and shareholders. However, as with all business structures, you should consider all pros and cons of an LLC before deciding to form one. Here...

Trying to decide between an S corp vs. a C corp when incorporating your business could be tricky without knowing the two business-type entities properly. If you also want to know more about a limited liability company, check our devoted article - Pros and Cons of an LLC. There is no one right solution for what is better when considering what struc...

When you consider changing the status of your corporation into an S corporation, you would need to familiarize yourself with IRS Form 2553. Becoming an S corporation allows you to enjoy tax benefits and returns and shareholder dividends. Use this guide to learn more about IRS form 2553 filing instructions on how and when to submit it.  What ...

As a small business proprietor, it is essential that you are involved in all aspects of your company, and thanks to available accounting applications and software, it is easier than ever to keep track of your business progress and growth. While accounting software has made recording and bookkeeping faster and easier for small business owners, you ...

Form 1099-NEC or nonemployee compensation 1099 makes a comeback in 2020 after a 38-year hiatus. Employers and business owners used Form 1099-MISC for the past few decades to report nonemployee compensation. This time around, they could now welcome the revived and revamped 1099-NEC form.   This article gives you knowledge about the IRS requi...

One factor that every small business owner should not overlook and treat as important as others is the wage and tax statement form, also known as the W-2 form. Each year by January 31, employers must send to employees these forms to file their income tax returns.W-2 tax forms demand attention when filing. Failure to submit on time and improperly en...

Finding the right and trustworthy real check stub maker is an essential element of processing or running payroll for your employees. For small businesses without a partner payroll processing company, you might find yourself doing payroll manually. This includes accurately calculating employee hours and pay, providing employee and employer identific...

Setting up a sound payroll system benefitting both employers and employees is an essential step in starting any business or company. Determining how and when your employees would receive their payments for work done is a necessity to handle your own payroll. This means that it is essential for you to understand basic paycheck terminology.   ...

For some, doing payroll for a small business is the least enjoyable part of the job. It could become tedious and costly if not done properly and efficiently.   Luckily, with these helpful 9 tips for your small business, running payroll for your employees would be easier, faster, more accurate, and more reliable than ever before. Set Up a Pa...

Are you wondering, what does a paystub look like? A pay stub is a slip given to the employee and contains all the details of their gross pay, tax deductions, net pay, and voluntary and involuntary deductions. These basic details help an employee their net pay amount by the employer. You must provide proof of your income while seeking a mortgage or...

Pay stubs hold great pieces of information. This information serves as proof as well as a document for income details.  You will often find a pay stub law in most states that necessitate employers to provide pay stubs. Keeping your pay stubs is a great thing that makes future financial endeavors less complicated.  Whether you are an hou...

Doing payroll manually can be time-consuming and frustrating, even if you run a small business. An analysis conducted a couple of years ago shows small business owners spend up to 5 hours every pay time. This is why opting for more efficient online payroll tools is important. What is Paperless Pay? Paperless pay is using an electronic payroll sys...

Both employers and employees have to make important calculations when it comes to payroll. After all, everybody wants to know how much they’re spending on salaries or how much they’re getting paid. And while these financials are very, very important, being accurate in calculating payments is far from easy. Whether you’re an empl...

It is good to understand how much taxes and deductions are, how they are calculated, and where they are going. While there are many deductions listed, one of the best places to start is by identifying the FICA on a paycheck stub.Here is everything you would need to help you understand what the FICA tax is for, why your employer withholds them and w...

Are you in the process of looking for a new apartment? Have you recently come across a place that you’d really like to call your new home? If that’s the case, you’ll have to go through a number of administrative steps with your potential new landlord. Landlords have the right to request numerous kinds of information before figuri...