You know that little line at the bottom of your receipts and invoices that says Sales Tax? As a business owner, it’s not your responsibility to pay it out of pocket. But it is your responsibility to collect and remit sales tax. If you don’t know how to pay sales tax for small business to […]
Read More You’ve Collected it … Now What? How to Pay Sales Tax for Small BusinessPatriot Software Blog
HSA vs. FSA: What’s the Difference? (+ Quick Reference Chart)
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 between HSA vs. FSA?
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Jan 25, 2021
What Are the Different Types of 401(k) Plans to Choose from?
As an employer, you can offer small business retirement options, like 401(k) plans, to your employees. But when it comes to 401(k) options, it isn’t just a one and done type of deal. There are a few different types of 401(k) plans to choose from.
Read More What Are the Different Types of 401(k) Plans to Choose from?Jan 21, 2021
12 Must-know Questions to Ask an Accountant
As a business owner, you do it all. But when it comes to your finances, it may be a good idea to consult an accounting expert for help—especially if you’re just starting your venture. An accountant can assist with tracking and analyzing your finances and keeping your records up-to-date and accurate. But, it all starts […]
Read More 12 Must-know Questions to Ask an AccountantJan 20, 2021
What Is My State Unemployment Tax Rate?
Running payroll means staying on top of your employment tax responsibilities. In addition to withholding income and payroll taxes from employee wages, you must contribute employer taxes. Unlike some other taxes, state unemployment taxes do not have a standard rate. Read on to answer, What is my state unemployment tax rate?
Read More What Is My State Unemployment Tax Rate?Jan 20, 2021
What Are the Benefits of Direct Deposit?
There are a number of options when it comes to paying workers. Have you considered using direct deposit to pay your employees? A lot of other employers have. In fact, nearly 94% of employees receive their paycheck via direct deposit.
Read More What Are the Benefits of Direct Deposit?Jan 19, 2021
What’re the Differences Between Form 1099-MISC vs. 1099-NEC?
Before 2020, business owners used one universal form—Form 1099-MISC—to report nonemployee compensation and other types of payments (e.g., rent). But after a 38-year absence, Form 1099-NEC made a return in 2020. So, how do these forms differ? Read on to learn all about Form 1099-MISC vs. 1099-NEC and which form you need to use.
Read More What’re the Differences Between Form 1099-MISC vs. 1099-NEC?Jan 18, 2021
States With Paid Family Leave (+ Map & Chart)
In 2020, eligible employees in every state could receive paid family leave … temporarily, under the Families First Coronavirus Response Act. But outside of this expired emergency legislation, there are only a handful of states that require paid family leave.
Read More States With Paid Family Leave (+ Map & Chart)Jan 14, 2021
S Corp vs. LLC: Which Is Better for Your Business?
When you start a company, there are a number of business structures to choose from. Two popular types of business structures are an S corporation and LLC. If you’re thinking about choosing one of these structures, find out the key differences between S Corp vs. LLC and learn which one is best for you.
Read More S Corp vs. LLC: Which Is Better for Your Business?Jan 13, 2021
New W-4 Form: Withholding Allowances Still Out, Plus New Computational Bridge
In 2020, the IRS released the long-awaited new W-4 form, shaking up how employers handle income tax withholding. Because the IRS only made the new form mandatory for new hires and employees making Form W-4 changes, some employers might be unfamiliar with it.
Read More New W-4 Form: Withholding Allowances Still Out, Plus New Computational Bridge