If you’re becoming an employer or already have employees, you must learn how to do payroll. Handling payroll is an important employer responsibility with many steps. Familiarize yourself on how to do payroll by learning about what payroll information you need to gather and the steps you need to follow to pay employees.Read More How to Do Payroll: Your Step-by-step Guide on Paying Employees
What Employers Need to Know About Taxable Wages
Part of being an employer is withholding taxes from your employees’ wages before giving them their paychecks. That’s why you need to understand taxable wages before you run payroll.Read More What Employers Need to Know About Taxable Wages
Get to Know Social Security Tax Inside and Out Before Writing That Paycheck
Employers are responsible for withholding, remitting, and filing payroll taxes on behalf of their employees. And, there are some taxes you contribute on behalf of your employees. Social Security tax is one of those essential taxes that impacts both the employer and the employee.Read More Get to Know Social Security Tax Inside and Out Before Writing That Paycheck
What Is State Income Tax?
Tax withholding may not be the most glamorous part of being a business owner. But if you have employees, it’s part of the job. In addition to federal income tax withholding, you may also need to handle state income tax withholding. Unlike federal income tax, state income tax rules and rates vary by state. So, […]Read More What Is State Income Tax?
What Is an NSF Check? | How to Handle
So you’ve brought your product or service to market and are generating revenue. You’re well on your way to creating the business that you dreamed about. However, there could still be bumps in the road that keep you from collecting your receivables. Such as an NSF check from a customer. Not familiar? Let’s consider the […]Read More What Is an NSF Check? | How to Handle
What Is Excise Tax?
As a small business owner, you have a lot of government documents and tax forms for small business to keep up with. You might be responsible for filing and paying excise tax if you sell certain products or services at your company. What is excise tax?Read More What Is Excise Tax?
What Is Business Collateral?
If you’re a small business owner, you might want a loan to help finance your company. Securing a business loan is not easy. You might need to offer collateral to get the loan application approved. What is collateral?Read More What Is Business Collateral?
Your Go-to Guide to Understanding Tangible Assets
Business assets are items of value that significantly contribute to your small business net worth. You need to properly calculate, take care of, and record your business’s tangible assets. Learn about tangible assets below.Read More Your Go-to Guide to Understanding Tangible Assets
What Is a Business Tax Lien?
Are you struggling to pay your business or employment tax liabilities? If you fail to pay, you might face a tax lien. For a small business owner, a tax lien can have devastating effects. That’s why you must understand tax liens to prevent them.Read More What Is a Business Tax Lien?
What Is a Fiduciary?
When you own a small business, you make decisions to protect your company. Throughout the life of your business, you might need to seek advice or help from professionals. In some cases, you might entrust a fiduciary to manage assets or provide business advice.Read More What Is a Fiduciary?