Pay stubs play an important role in the payroll process. Pay stubs confirm that both the employer and employee agree on a pay structure. While there is no federal regulation on pay stubs, they are beneficial to both businesses and employees. If you are not generating pay stubs for your employees every pay period, you may end […]
Taxes can be a freelancer’s nightmare. The amount that a freelancer has to pay in taxes may seem like a guessing game until tax season. If you’re a freelance worker or self-employed, you must understand how to pay taxes early to avoid any surprises come April. When do Freelancers Pay Tax? As a freelancer, if […]
Every new employee needs to fill out a W-4 Employee’s Withholding Certificate, which provides information on how much of an employee’s pay an employer should withhold for tax purposes. Each state has a tax withholding form that employers must use to determine an employee’s tax deductions by their withholding tax allowances. Both employers and employees […]
Payday is every employee’s favorite day, but paychecks can often be confusing. Every employee has taxes taken out from their paycheck, but those taxes may differ depending on factors such as your marital status and what state you live in. You need to understand which taxes get taken out of your paycheck to avoid any […]
If you’ve ever started a new job, you have probably had to fill out a W-4 form. A W-4 Employee’s Withholding Certificate is a form employers give employees to fill out to determine the amount of income tax to withhold from their paychecks. Unfortunately, many people don’t know how to fill out this form, and […]
Successful businesses use technology to get more work done in less time. If you want to grow your business and control costs, automate the routine tasks you must complete. Many business owners use accounting software and other applications, but you may not be using a payment processor to work more efficiently. A payment processor sends […]
When you’re in the market to buy real estate, it can be challenging to understand the ins and outs. Regardless of your experience level, knowing how to turn a property that interests you into part of your portfolio is vital to success. Whether you are new to the industry or on your thousandth negotiation, understanding […]
The coronavirus has dramatically changed how businesses operate, and the pandemic has made it tougher to generate a profit. A WalletHub survey (conducted in April of 2020) reported that 87% of small business owners were struggling, due to the virus. Owners are reviewing every component of the business, and finding ways to adapt. If the […]
It’s important to follow accounting standards, so that your financial results are comparable with other businesses. Investors, lenders, and regulators need financial statements that conform to the accrual method of accounting. The accrual method presents a more accurate picture of company profitability. Let’s start with a definition. Accrual accounting defined Accrual accounting posts revenue when […]
The coronavirus has put a strain on businesses in every industry. As McKinsey explains: “The timeline for companies to react to the coronavirus has shrunk dramatically.” In order to adapt, you need accurate and timely information. Which information is most useful? The decision can be difficult, given the sheer volume of data you can generate […]
