Good bookkeeping involves keeping records of every employee’s pay and providing each of your employees a breakdown of their paychecks. You can accomplish both of these tasks by generating pay stubs. Although there is no federal regulation on pay stubs, generating pay stubs for your employees can still help your business. Read on to learn how pay […]
There are many benefits to being self-employed. But there are also a few challenges that traditional employees don’t experience. One of these challenges is keeping accurate records of your income to submit tax returns to the Internal Revenue Service (IRS). Luckily, the process of generating pay stubs doesn’t have to be complicated. Create Your Pay […]
It’s easy for full-time, contracted employees to show proof of employment. Usually all they need to do is ask the human resources department at their company. Self-employed (freelancer, for example) may experience more difficulty providing proof of employment. Verifying employment is important when applying for a home, car or personal loan. In this article, we […]
Payday is always a great day, but do you ever find yourself guessing how much each paycheck will be? This experience commonly happens to workers who don’t fully understand the deductions that come out of their paycheck each pay period including taxes, social security, and medicare. Keep reading to learn what’s included in your pay stub, […]
If you’re thinking of buying a new home or applying for a business loan, you will need pay stubs to provide proof of income and employment. Although many people try to keep their old pay stubs filed in a safe place, they often get lost, destroyed or accidentally thrown out. In this article, we provide […]
Many people don’t receive their check stubs or pay stubs in paper form anymore. Electronic check stubs are the norm, but they may not be the best type of check stub in all cases. Employers should consider their options and the needs of their employees when it comes to the different types of check stubs that can […]
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 […]
