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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...

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...

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 ...

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...