In today’s working world, it’s vital to grasp the distinctions between “W2 vs. 1099,” whether you’re an employee or an employer. This article will clarify the main differences and offer insights to help you make informed choices for your business. W2 Employee: The Conventional Path Definition: A W2 employee is a vital part of a company’s…
Article Highlights: Infrastructure Investment and Jobs Act (IIJA) Signed into Law Employee Retention Credit Terminated Early Problem for Some Employers No Relief Included for Employers Already Claiming the Credit in the 4th Quarter Recovery Startup Businesses Still Qualify President Biden signed the Infrastructure Investment and Jobs Act (IIJA) on November 15, 2021. One of the…
Article Highlights: Paycheck Protection Program (PPP) Loan Terms Loan Amount PPP Loan Forgiveness Reduction in Pay Decrease in Employees Qualified Expenses Limitation Documenting Forgiveness Now that you have gotten a Paycheck Protection Program loan (PPP), it is time to start planning how to spend the loan proceeds so some portion of the loan will be forgiven.…
Hiring the right payroll service can not only help you avoid these costly mistakes, but it can save you money in the long run.
Employers have several tax obligations related to their employees. The government expects employers to withhold income taxes and social security and Medicare taxes from their employees’ pay in addition to paying unemployment tax on their wages. On the other hand, employers have no tax obligations on payments they make to independent contractors. Whether or not…
Today’s lesson is about “how to think”. The focus of the exercise is to describe the process of developing a growth philosophy (a habitual pattern of thinking that yields a desired result). The desired outcome we are reaching for is for you to reach toward becoming the best you can be. It all begins in…
To whom do I have to pay overtime? Is this a question you have asked before? Small business owners have a lot on their plates, so this can often be an unanswered question. It is critical to the success of your business that you have a clear understanding of the current laws. If you make…
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