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 […]
#TuesdayTips: How to Use Gusto to Distribute Employee W-2’s
Well, it’s that time of the year again… tax season! We know the time to send out W-2’s or 1099’s to your employees has passed, but we have gotten so many questions from our clients on how and where to access their W-2’s. We thought, why not explain how for next year! As an employer, […]
#TuesdayTips: The Importance of Tracking Your Mileage
Do you or any of your employees use a vehicle owned by your company? Mileage as well as additional auto-related expenses such as gas, oil, maintenance, repairs, tires, registration fees, and more can be considered when filing your business taxes. Paying attention to detail and taking time to track mileage is more important than you […]
Spreading Holiday Cheer: Sending Bonuses in 5 Easy Steps!
Owning a business can be hard.. we all have those employees that make every hard day just a little bit easier! Put on your Santa hat– Saint Nick won’t be the only one delivering presents this year! Are you planning to spread some holiday cheer among your employees by giving a Christmas bonus? Running a […]
The Ongoing Debate…. Independent Contractor? Or W-2 Employee?
If you own a small business and have sought professional assistance in the area of bookkeeping and payroll (if you haven’t…we know some people!), you may very well have encountered the question of whether to pay someone as a regular employee (W-2) or independent contractor (1099). If so, you should have been counseled on the differences […]
Employee and Employer Payroll Taxes – What’s The Difference?
Even though payroll taxes are paid by both employers and employees, there’s one major difference. Payroll taxes paid by employees affect employees’ net pay, but payroll taxes paid by employers don’t. Taxes that employees pay are subtracted out of an employee’s gross pay, which lowers the net pay for that paycheck. However, payroll taxes paid by the employers do not affect […]
Importance of Employee Time Tracking
Successful businesses often rely on time tracking software to help stay in compliance with their employees and the law. Far too often, businesses not accurately tracking employee time are forced to deal with devastating repercussions. In June of 2020, a local plumbing company in Tennessee violated Federal Wage and Child Labor laws. The owners did […]