If you’ve accidentally filed an inaccurate Form 941, Form 941-X is what you need to set things right. As a business owner, the last thing you want to do is run afoul of the IRS. Unfortunately, with all of the…
There’s more than one pay schedule you can use to pay an employee? But which one is right for you? In this article, we’ll talk about one of the most commonly used pay schedules, biweekly pay. What Is Biweekly Pay?…
A W-2 form, or wage and tax statement, is required by the IRS for tax purposes. Companies must issue a W-2 no later than January 31 to provide time to file your tax return and complete the verification process. If…
We live in a very carefully documented society, and few things are as closely measured and cataloged as finances. From tracking revenue and expenditures for measuring profitability, to identifying financial trends and potential business opportunities, to ensuring that everything is…
Investors and business owners alike care a lot about retained earnings.But what are they?In this article, we’ll explain what retained earnings are, what a statement of retained earnings shows you, and how to use those earnings to improve your business.…
There are many advantages to self-employment; being your own boss means the freedom to set your own goals, work the hours you want to work, and reap all of the rewards for your own effort. However, with self-employment comes other…
No matter how dedicated or passionate they are about their work, the reality is that your employees are probably in it for the money. And there’s nothing wrong with that; it’s only natural that a worker should want compensation for…
Whether you’re a small business owner or just curious to know what the IRS form 2553 is, you’re at the right place. What is form 2553? Form 2553 is a tax form that businesses can file. Form 2553 is targeted…
Using paper checks has become less and less common over time. This is due to the fact that most people prefer to manage their finances online. The majority of Americans are paid with direct deposit instead of a check. However,…
What is the difference between gross pay and net pay? When it comes to paychecks and paystubs, two of the most important terms to know are gross pay and net pay. Someone may make $60,000 a year, but this doesn’t…
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