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  • Taxpayer Identification Number

    What Is a Taxpayer Identification Number?

    posted by Mike Kappel
    Newest Article
  • Create an employee referral program to that leads to more and better hires.

    How to Create a Successful Employee Referral Program

    posted by Mike Kappel
    Recent Article
  • What Is a Taxpayer Identification Number?

    Whether you’re submitting payroll or tax return forms, opening bank accounts, or establishing retirement plans, you need to identify your business. To run your business, you need a taxpayer identification number (TIN).

    Find out what a federal tax identification number is, types of tax ID numbers, and how to obtain them.

    How to Create a Successful Employee Referral Program

    It can be challenging to locate quality candidates. There are fewer employees to fill jobs, especially in specialized positions.

    You might find the candidates you’re looking for by tapping into your current employees’ networks. Your employees likely know someone who is searching for a job or has the skills you are looking for. If you set up an employee referral program at your business, you can give your employees an incentive to share their contacts.

    How to Handle Outstanding Paychecks

    Writing employees checks is one way you can pay them their wages. But if an employee takes too long to deposit their paycheck, you have to deal with the consequences. There are a few things you might have to do when paychecks are outstanding checks.

    How to Set Up Direct Deposit for Employees

    The benefits of direct deposit are numerous. You can easily pay employees no matter where they are located. Employees gain immediate access to their pay as soon as it’s deposited in their bank accounts.

    To start benefiting from direct deposit, learn how to set up direct deposit for employees at your business.

    A Closer Look at Medicare Tax

    If you have employees, you are responsible for handling and paying Medicare tax. Learn what Medicare tax is, what it funds, and how much it costs.

    What Is Social Security Tax?

    When you have employees, there are several taxes you must withhold from their wages or pay yourself. Social Security tax is one of these employment taxes.

    Is Paying Employees Cash Under the Table Legal?

    Some businesses prefer paying employees cash as opposed to other payment methods, like direct deposit or check. If you choose to pay cash wages you are still responsible for depositing and reporting employment taxes.

    Paying employees cash under the table, or off the record, means you fail to pay and report taxes. Learn whether cash under the table is legal and what to do when you pay employees in cash.

    Can a Sole Proprietor Have Employees?

    Many people picture sole proprietorships as tiny, single-person businesses. The owner is tucked away in a little home office, working long, odd hours to keep their business going.

    While this image might be true for some sole proprietorships, it’s certainly not true for all of them.

    Businesses, hopefully, grow. As your sole proprietorship grows, you might realize you need help to keep up with all the tasks. So, you decide to hire an employee. But can you have employees as a sole proprietor? Or, do you need to change your business structure?

    A Look at Deferred Compensation Plans

    For many employees, generous benefits are more important than pay raises. There are many benefits options you can offer to attract and retain employees, including deferred compensation plans.

    Learn what a deferred comp plan is, which types you might offer, how they benefit both employees and you, how deferred compensation tax works, and how to record deferred compensation in your books.

    What Is Pay as You Go Workers’ Comp?

    Having workers’ compensation insurance isn’t only a smart business move—in most cases, it’s a required one, too. But doling out lump sum payments for workers’ compensation premiums can take its toll on your business. Instead, opt for pay as you go workers’ comp.

    What Is a Taxpayer Identification Number?

    Whether you’re submitting payroll or tax return forms, opening bank accounts, or establishing retirement plans, you need to identify your business. To run your business, you need a taxpayer identification number (TIN).

    Find out what a federal tax identification number is, types of tax ID numbers, and how to obtain them.

    How to Create a Successful Employee Referral Program

    It can be challenging to locate quality candidates. There are fewer employees to fill jobs, especially in specialized positions.

    You might find the candidates you’re looking for by tapping into your current employees’ networks. Your employees likely know someone who is searching for a job or has the skills you are looking for. If you set up an employee referral program at your business, you can give your employees an incentive to share their contacts.

    How to Handle Outstanding Paychecks

    Writing employees checks is one way you can pay them their wages. But if an employee takes too long to deposit their paycheck, you have to deal with the consequences. There are a few things you might have to do when paychecks are outstanding checks.

    How to Set Up Direct Deposit for Employees

    The benefits of direct deposit are numerous. You can easily pay employees no matter where they are located. Employees gain immediate access to their pay as soon as it’s deposited in their bank accounts.

    To start benefiting from direct deposit, learn how to set up direct deposit for employees at your business.

    A Closer Look at Medicare Tax

    If you have employees, you are responsible for handling and paying Medicare tax. Learn what Medicare tax is, what it funds, and how much it costs.

    What Is Social Security Tax?

    When you have employees, there are several taxes you must withhold from their wages or pay yourself. Social Security tax is one of these employment taxes.

    Is Paying Employees Cash Under the Table Legal?

    Some businesses prefer paying employees cash as opposed to other payment methods, like direct deposit or check. If you choose to pay cash wages you are still responsible for depositing and reporting employment taxes.

    Paying employees cash under the table, or off the record, means you fail to pay and report taxes. Learn whether cash under the table is legal and what to do when you pay employees in cash.

    Can a Sole Proprietor Have Employees?

    Many people picture sole proprietorships as tiny, single-person businesses. The owner is tucked away in a little home office, working long, odd hours to keep their business going.

    While this image might be true for some sole proprietorships, it’s certainly not true for all of them.

    Businesses, hopefully, grow. As your sole proprietorship grows, you might realize you need help to keep up with all the tasks. So, you decide to hire an employee. But can you have employees as a sole proprietor? Or, do you need to change your business structure?

    A Look at Deferred Compensation Plans

    For many employees, generous benefits are more important than pay raises. There are many benefits options you can offer to attract and retain employees, including deferred compensation plans.

    Learn what a deferred comp plan is, which types you might offer, how they benefit both employees and you, how deferred compensation tax works, and how to record deferred compensation in your books.

    What Is Pay as You Go Workers’ Comp?

    Having workers’ compensation insurance isn’t only a smart business move—in most cases, it’s a required one, too. But doling out lump sum payments for workers’ compensation premiums can take its toll on your business. Instead, opt for pay as you go workers’ comp.

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