A whopping 65% of the U.S. population lives paycheck to paycheck. These employees (and likely all employees) count on receiving their wages on their scheduled pay date. But, bank holidays might pose a slight hiccup. What happens if payday falls on a bank holiday?
Read More What Happens If Payday Falls on a Bank Holiday? Mark Your CalendarPatriot Software's Blog
Most popular blog categories
Common Tax Scams in 2024: IRS “Dirty Dozen” Highlights
Although the 2024 “Tax Day” is over, tax scams live on. The IRS compiles an annual list of common scams known as the “Dirty Dozen” list.
Read More Common Tax Scams in 2024: IRS “Dirty Dozen” HighlightsHow to Calculate a Salary Raise Percentage for Your Employees
Fewer employers plan to give pay raises in 2024 than in 2023, according to SHRM. Even so, 79% of businesses plan to dole out pay raises. To avoid losing your top employees, you might consider offering pay raises. Learn about criteria for raises, when to give salary raises, and how to calculate a pay raise […]
Read More How to Calculate a Salary Raise Percentage for Your EmployeesWhat Is the Corporate Tax Rate? [Federal & State Guide]
Your company’s tax liability largely depends on the business structure you choose. And if you structure your business as a corporation, you’re responsible for paying the corporate income tax rate on company earnings. So, what is the corporate tax rate?
Read More What Is the Corporate Tax Rate? [Federal & State Guide]How to Calculate Profit Margin for Your Small Business in 3 Simple Steps [Formula]
To grow your business, you need to track financial information and measure performance. One metric you should be keeping an eye on is your business’s profit margin. Read on to learn how to calculate profit margin for your company and ways to improve your margins.
Read More How to Calculate Profit Margin for Your Small Business in 3 Simple Steps [Formula]How to Manage and Record Cash Receipts in Your Small Business
If you’re a small business owner, you likely receive cash payments from your customers. And if you receive cash payments, you need to know about recording cash receipts in your books. So, how do you record cash receipts?
Read More How to Manage and Record Cash Receipts in Your Small BusinessHow to Fill Out a 1099-MISC Form: 1099-MISC Instructions [The Ultimate Guide]
How do you fill out the most recent version of the 1099-MISC form? Learn how to fill out Form 1099-MISC and where to send completed forms.
Read More How to Fill Out a 1099-MISC Form: 1099-MISC Instructions [The Ultimate Guide]How to Create a Prepaid Expenses Journal Entry
Do you ever pay for business goods and services before you use them? If so, these types of prepaid expenses require special attention in your books. You need to create a prepaid expenses journal entry.
Read More How to Create a Prepaid Expenses Journal EntryMargin vs. Markup: Chart, Infographic, & More
Business owners often confuse margin and markup. After all, they both deal with sales, help you set prices, and measure productivity. But, there’s a key difference between margin vs. markup—and knowing this difference is how you can set prices that lead to profits.
Read More Margin vs. Markup: Chart, Infographic, & MoreTypes of Audits: Breaking Down 9 Different Audits
As a small business owner, you need to conduct regular audits to ensure your records are accurate. Although many business owners dislike the idea of auditing, audits can be beneficial to your company. Learn more about the different types of audit below.
Read More Types of Audits: Breaking Down 9 Different Audits