When you run a business, the word taxes might fill you with dread—especially if you have employees. You pay some employment taxes (e.g., unemployment), while others are taxes you deduct from your employees’ wages and pay on their behalf. One of the taxes you must withhold is federal income tax. So, what is it, and […]
Read More The Employer’s Guide to Federal Income Tax WithholdingMike Kappel
What Is E-Verify, and How Do You Use it?
As an employer, you’re responsible for collecting certain forms from new hires, like Form I-9. Form I-9 is a form that confirms your employees are legally allowed to work in the U.S. To help confirm the eligibility of your new employees, you can use E-Verify. So, what is E-Verify exactly?
Read More What Is E-Verify, and How Do You Use it?Hiring Teens This Summer? Here’s Your Homework on Labor Laws for Minors
The closer summer gets, the more teens begin looking for jobs—and, they might be applying to work for you. The Fair Labor Standards Act (FLSA) sets specific rules for hiring teens and children. Know the minor employment laws before you take on a minor employee. To learn more about the labor laws for minors seeking […]
Read More Hiring Teens This Summer? Here’s Your Homework on Labor Laws for MinorsWhat Is FMLA? The Rundown You Need to Know as a Small Business Owner
As a small business owner, you may have a lot of questions about FMLA, starting with, What is FMLA? To help you better understand FMLA and your roles and responsibilities as an employer, here are the basics of the law, eligibility requirements, and how to remain compliant as an employer.
Read More What Is FMLA? The Rundown You Need to Know as a Small Business OwnerHSA vs. FSA: What’s the Difference? (+ Quick Reference Chart)
This article has been updated to include 2022 information. When it comes to health coverage, there are a lot of options out there. FSAs and HSAs are healthcare plans that cover medically-related expenses not included under a traditional health plan. Do you know the difference or if you are FSA or HSA eligible?
Read More HSA vs. FSA: What’s the Difference? (+ Quick Reference Chart)What Is Profit Sharing, and How Can it Benefit Your Business?
This article has been updated to include 2022 information. Looking to offer your employees an additional benefit? Consider creating a profit-sharing plan. But before you run off and create a plan, you need to know what is profit sharing. Read on to learn all about profit sharing, including how it works and steps for creating […]
Read More What Is Profit Sharing, and How Can it Benefit Your Business?What Is a DUNS Number?
Dun, dun, dun! If you’re unfamiliar with what is a DUNS number, now might be the time for a quick overview. Otherwise, you might not know if you need one for your business.
Read More What Is a DUNS Number?What Is a Chart of Accounts?
You know what they say, “For every minute spent organizing, an hour is earned.” And when it comes to accounting, taking time to get organized can save you a number of hours later … not to mention, money. That’s why you need your trusted organizational accounting tool, aka your chart of accounts (COA). What is […]
Read More What Is a Chart of Accounts?What Is Sick Pay?
Your alarm clock goes off, you roll over to get ready for work, but then … ugh. You just can’t do it because you’re too sick. Ever have one of those days? Your employees have, too.
Read More What Is Sick Pay?What Are Pre-tax Deductions?
Do you need to withhold money from employee wages beyond taxes (e.g., garnishments or benefits)? Then you might be wondering when exactly you deduct the employee’s contributions—before or after taxes. Well, it depends. For accurate withholding, understand what are pre-tax deductions.
Read More What Are Pre-tax Deductions?