You constantly make payments to contractors, suppliers, vendors, and employees (if you have ‘em). It’s what you do as a business owner. Wouldn’t it be nice to skip cash and checks? Instead of using paper to pay people, you can make EFT payments.Read More Sending and Receiving EFT Payments: What You Need to Know
Most business owners are familiar with their minimum wage responsibilities. But if you take on a federal or state government contract, you also need to know about prevailing wages. What are prevailing wages?Read More What Are Prevailing Wages?
As an employer, you’re in charge of paying your employees … and handling those pesky employment taxes. One of the taxes you need to calculate and withhold is a payroll tax known as FICA. What is FICA tax?Read More What Is FICA Tax, and How Much Do You Need to Take Out of an Employee’s Paycheck for It?
As a small business owner, you may offer types of paid or unpaid time off to employees. But when election day rolls around, do you give employees time off to vote? Read on to learn about offering time off to vote, voting leave laws by state, and whether you can refuse voting leave.Read More Are You Required to Give Employees Time Off to Vote?
If you have nonexempt employees, you have to pay them overtime, or time and a half, for any hours worked over 40 during the workweek. Learn all about time and a half, who qualifies for overtime, and how to calculate it.Read More What Is Time and a Half, and Who Qualifies for It?
Flexible work arrangements are becoming more and more popular in the business world. One type of flexible option for employees is job sharing. So, what is job sharing?Read More Can Job Sharing Benefit Your Small Business?
When it comes to your small business, you don’t want to be in the dark. Your accounting books should reflect how much money you have at your business. If you use double-entry accounting, you also record the amount of money customers owe you. But, what happens if they don’t pay? To protect your business, you […]Read More Learn All About Allowance for Doubtful Accounts (Aka Bad Debt Reserve)
There are a number of paid sick leave laws by state. To stay compliant, some employers have turned to third parties to handle sick pay. Do your employees receive third-party sick pay?Read More What Is Third-party Sick Pay?
Let’s face it: everybody makes mistakes. So, if you make a mistake on an employee’s Form W-2, don’t panic. Instead, learn how to correct a W-2 form and take action.Read More How to Correct a W-2 Form If You Make a Mistake
A sole proprietorship is the most common type of business structure. A whopping 73% of businesses in the U.S. are sole proprietorships. If you’re considering starting your own venture and forming a sole proprietorship, weigh the pros and cons of a sole proprietorship before making a decision.Read More What Are the Pros and Cons of a Sole Proprietorship?