It is definitely a big decision to hire a new employee. Starting with a contractor, or a 1099 employee can be a great way to expand your business, but it is very important to take all things into consideration to avoid misclassifying your future employees. In this weeks #TuesdayTip, we will be comparing W-2 and […]
Everyone likes a bonus, right? Whether it’s for quarterly performance, cost-of-living, or to reward a good deed, bonuses show company appreciation and boost morale. But what is the best way to deliver that bonus? With Gusto’s payroll software, it is always easy to give your employees a bonus at any point throughout the year. Many of our […]
Remember When? When you started your business you may have had to make a decision…are your employees going to be W2 and 1099? It’s not a small matter, but one with long-lasting impact on how you do your business and whether the IRS comes to visit you on the issue. It can also help protect […]
Up until about 40 days ago (give or take), federal law required “third party settlement organizations” (you may know them better as PayPal, Venmo, or CashApp) to report transactions to the IRS only if they exceeded $20,000. While many people benefited from the stimulus portions of the American Rescue Plan in 2021, one provision in […]
The Paycheck Protection Program (PPP) recently received an extension bill July 4th, offering business owners and self-employed individuals an additional 5 weeks to apply for a PPP forgivable loan (ending August 8th). Roughly 5 million businesses have already received funding; however, there are a large number of people who have still not applied. To date, […]
As the PPP deadline of June 30th looms less than a week away, we felt it was important to provide some context for the self-employed individuals looking to take advantage of the nearly $120B still remaining. Background: the Paycheck Protection Program (PPP) is a $660 billion dollar loan program. It was implemented by Congress specifically […]
So, you’re looking to hire your first employee? Congrats! This a huge step for any business owner, but it also begs the question, ‘Is my new-hire a W2 employee, or a 1099 independent contractor?’ With many business owners, they have no clue what the difference is between W2 or 1099, which is not at all […]
