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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 ...

As the deadline for the annual filing of Form W-2 comes near, all employees need to prepare their tax returns before the income tax due date. You should be aware of where your tax documents are stored and if you have received them from your employer. When filling out Form 1040 (Individual Income Tax Return Form), you need a Form W-2 (Wage and Ta...

If you own a business or are just about to start one, you may have probably realized rather quickly that there are tons of details to consider. Most small business owners do not have a background in accounting, making it overwhelming for them. However, they still have to learn its ins and outs if they want to succeed in their business. Whi...

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...

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...

Receiving direct deposits of your salary to your bank account or making automated payments is a useful and convenient payroll feature. It eliminates mistakes from repeated writing of your information on checks. This is where a voided check comes in handy. Employers using pay stub generators to create their payroll may request a voide...

Pay stubs contain essential information such as net and gross wages, taxes and deductions, benefits, and work hours. They also include essential data such as the names of employees, their employers, and addresses. With that said, let us look at the answers to the questions on why and how long should you keep pay stubs. 5 Reasons for Savin...
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