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What is a Self-Employment Ledger and Why It’s Important for You?

September 21, 2021

What is a self-employment ledger? Why is it essential for a self-employed individual such as yourself? How could you use it to verify your income and even document your expenses?One dilemma that many self-employed individuals face is the burden of proof of income, especially when applying for loans or claiming benefits, and even paying taxes. This ...

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What is LTD (Long-Term Disability) on my Paystub?

September 9, 2021

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 condi...

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S Corp vs C Corp - Detailed Comparison

August 30, 2021

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 structu...

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Pros and Cons of a Limited Liability Company (LLC)

August 30, 2021

Previously we made a thorough comparison between C corporation and S corporation. Now it's a turn of LLC.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 al...

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IRS Form 2553 Filing Instructions

August 27, 2021

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 is F...

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5 Business Accounting Mistakes That Business Owners Make

July 23, 2021

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 co...

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How Can I Get a Copy of My W2 If I Lost It?

July 19, 2021

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 Tax St...

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Top 13 Small Business Accounting Advice To Save Your Money

July 13, 2021

If you own a business or 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.While there is a ...

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What is Form 1099-NEC and Who Needs to File?

June 15, 2021

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.What is form 1099-NEC? What is a 1099-NEC form used for? Why an...

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Gross Pay vs Net Pay On Pay Stub - What's The Difference?

June 11, 2021

Gross pay vs net pay is one of the most common topics that employees, self-employed individuals, and sometimes freelancers need to understand on their paystub. Learning more about them could help you better comprehend your compensation, potential tax liabilities, and buying power.What Is Gross Pay?The gross pay on paystub is the total amount of mon...

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What Is FICA On My Paystub?

June 11, 2021

Every time you receive your check stub, you might ask yourself the questions, "What is FICA on my paystub?" "What are all the deductions listed, and are they necessary?" "What does FICA mean on my paystub?" You are not alone when asking yourself these questions. Many employees and self-employed individuals also wonder the same things.It is good to ...

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W-2 Wage and Tax Statement Form For Small Business

June 7, 2021

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 improper ente...

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Can You Trust An Online Real Check Stubs Generator?

May 19, 2021

Finding the right and trustworthy real check stub generator 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 ident...

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Pay Cycle, Pay Day, Pay Period - What’s The Difference Between Them?

May 12, 2021

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.Read on to...

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Best Payroll Advice For Small Businesses

May 5, 2021

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 this helpful advice for your small business, running payroll for your employees would be easier, faster, more accurate, and more reliable than ever before.Set Up a Payroll SystemS...

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Check Stubs For Renting Apartments – Why Is It Important

April 14, 2021

If you plan to rent out an apartment, there are a few ways for your future landlord to determine if you can pay rent on time. Checking your job status, credit history, and monthly and yearly income, they would be able to see if you are a viable candidate to fill their property. Many income verification documents could be used to assess renters.Here...

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