In 2020, COVID-19 took the world by storm. To provide relief during the pandemic, the IRS allowed eligible employees and self-employed individuals to defer Social Security tax temporarily. And now, it’s time for individuals (or their employers) to collect and pay back the deferred tax. But, how does the self-employed Social Security tax deferral work? […]Read More How Does the Self-employed Social Security Tax Deferral Work?
The Oregon Employer’s Guide to the New Metro Supportive Housing Services Tax
Oregon employers have a new tax to add to their payroll radar: the Metro Supportive Housing Services (SHS) tax. So, what is the Metro Supportive Housing Services tax? Who must pay the tax? And, what does it fund?
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- Updates to the Income Tax Withholding Tables and What You Need to Know
Stay up to date on the latest payroll tips and training
If a disaster impacts your business, you might need to make repairs or temporarily shut down. For some, the expenses associated with disaster recovery cause negative cash flow or even small business bankruptcy. SBA disaster assistance can provide you with the funding you need to protect and continue running your business.Read More SBA Disaster Assistance: Low-interest Loans to Help Get You Back to Business
All states except Montana are at-will employment states, meaning employers and employees can end their relationship whenever they want. Employees can leave at any time, and employers can terminate an employee for any legal reason. However, the rules change if there’s an employment contract in play.Read More Want it in Writing? What to Know About an Employment Contract
Has your business experienced a disaster (e.g., tornado, hurricane, etc.)? If so, you may be eligible for the employee retention credit. But to claim the credit, you need to fill out Form 5884-A. Read up on credit eligibility, how Form 5884-A works, and how to fill one out for your business when a qualified disaster […]Read More What Is IRS Form 5884-A for the Employee Retention Credit?
In accounting, you deal with a variety of accounts to balance and organize your books. One type of account you will likely run into is a real account. But, what are real accounts exactly? And, how does it differ from other accounts in accounting? Allow us to give you the scoop with an overview, examples, […]Read More Let’s Get Real: How Much Do You Know About Real Accounts?
As an employer, you want to see your employees succeed and grow along with your company. To reward employees for great performance, you may decide to give them variable pay. But, what is variable compensation exactly?Read More What Is Variable Pay, and How Exactly Does it Work?
The end of the year is a busy time for businesses. If you’re like most business owners, you’re probably juggling end-of-year accounting procedures in addition to heavier traffic and sales and payroll tasks. Instead of scrambling (or forgetting) to get your year-end processes complete, use a year-end accounting checklist to organize the way you wrap […]Read More 8 Tasks to Cross Off Your Year-end Accounting Checklist
When it comes to your small business, there are a number of financing options available. A couple of popular options include a business loan or credit card. But, which one is better for your business? Get to know the difference between business loan vs. credit card and learn how to decide between the two.Read More Business Loan vs. Credit Card: Which Is the Best Option?
If you’re an S corporation owner, you need to run payroll for yourself. Part of S Corp ownership is listing yourself as an employee to pay yourself a salary. But, how do you run S Corp payroll? And, what do you need to know about the process before you write yourself your first paycheck?Read More Running S Corp Payroll for an Employer’s Wages