Blog Category: Accounting, Payroll, & Taxes
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W2 vs W4 – Discover the Different Types of IRS Tax Forms
For the majority of Americans, tax season begins at the end of January. At this time, tens of millions of people are receiving a Form W-2 from their employer. Receipt of the W-2 form and other documentation allows individuals and businesses to file their income taxes for the year. The U.S. Internal Revenue Service (IRS) […]
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What Is Payroll and How Can I Find Funding for It?
When your business is experiencing cash flow problems, payroll is not one of the expenses you should compromise. If you skip out on paying employees, there can be severe consequences. Not only are you interrupting the livelihood of your employees who depend on their paychecks, but you could face some legal issues as well. So […]
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What Is an Open Invoice?
At the inception of any small business, there’s the expectation that an open invoice will be a regular part of a business’s life cycle. After all, once business graduates from the status of cash-only (if it ever started as one), it immediately transitions into creating invoices for your services provided or products sold. The core […]
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Is Accounts Receivable an Asset?
Accounts receivable can be a frustrating area. With 48% of customers delaying payments, it can often feel like accounts receivable is a liability rather than an asset. If accounts receivable turns into bad debt, then this becomes a company loss. However, before that happens, accounts receivable should not be considered a liability. Which begs the […]
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7 Tips for Choosing Payroll Services for Your Small Business
Is your small business looking for a new payroll service provider? Deciding to outsource your payroll or switching payroll companies can be a big change. This helpful guide has 7 tips for choosing payroll services for your small business that will help you successfully make the switch. 1. Consider the Timing Before you look at […]
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How to Manage Payroll Effectively: A Step-By-Step Guide
Did you know that if you do not manage payroll correctly and it is not in order, the IRS can fine you up to 15% of any outstanding withholding taxes? However, besides potential IRS fines and penalties, mismanaged payroll can have a lot of other adverse effects. These include disgruntled employees, increased costs, administrative inefficiencies, non-compliance around […]
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Earnings Before Interest and Taxes – How to Calculate EBIT
These are uncertain times for stock market investors. All three major stock market indices are in the midst of a correction. Adding more risk to the global economy is the ongoing coronavirus pandemic. In fact, Wall Street’s fear index hit its apex of 83 during March. This was even higher than the peak during the […]
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FUTA Tax Rate: Discover What It Is and How It Works
As an employer, you have to deal with a lot of different taxes, from income tax to Social Security, and Medicare. Now, you probably already know the basics of those tax rates. But you shouldn’t forget about the FUTA tax rate, especially if you have multiple employees. FUTA tax is just as important as other taxes, but […]
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7 Staffing Agency Payroll Funding Ideas You Need to Know
It may seem like businesses have come to a grinding halt due to the coronavirus epidemic. While that’s true for some industries, others are overwhelmed and need to hire thousands of employees which is where payroll funding comes into play. This presents a huge opportunity for staffing agencies. These companies need to hire staff quickly, […]
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What Is an Invoice?
An invoice is one of the most basic business documents. However, you may have questions if you’re new to running a business. You may also have questions about its details. Or, wondering if there’s anything to do with them besides filing them away and later forgotten. What is an invoice? What’s it used for? How […]
