When payday rolls around, employees receive their wages for hours worked. They may also receive a digital or paper pay stub, which breaks down their earnings and deductions. As an employer, you must know how to generate pay stubs.
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How to Fill Out Form 941 (2024): Step-by-step Instructions to Fill Out Form 941
If you have employees, you likely need to fill out and file Form 941 each quarter. Form 941 is jam-packed with different sections and calculations, which leaves room for errors. Need Form 941 instructions? Avoid major Form 941 mistakes and here learn how to fill out Form 941 line by line here.
Read More How to Fill Out Form 941 (2024): Step-by-step Instructions to Fill Out Form 941How to Correct a W-2 Form If You Make a Mistake (Amend Your W-2)
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 (Amend Your W-2)How to Fill Out Form W-2: Box-by-box Breakdown
Once you send Forms W-2 to your employees, you don’t have to worry about the annual form until next year. Or, do you? If you don’t know how to fill out Form W-2, you may run into problems.
Read More How to Fill Out Form W-2: Box-by-box BreakdownWhat Is Certified Payroll? What to Know If You Land a Federal Contract
Step 1: Land the contract for a federal government-funded job. Step 2: Comply with your certified payroll reporting requirements. What is certified payroll?
Read More What Is Certified Payroll? What to Know If You Land a Federal ContractERC Voluntary Disclosure Program Gives Businesses a Discount on Questionable Claims
Aggressive promotion, scams, and ERC mills—that’s the drama surrounding the employee retention credit (ERC). The ERC was a lifeline for small businesses struggling to stay open during the pandemic. But bad actors quickly pounced on the opportunity. “ERC mills” began aggressive marketing campaigns advising employers to apply (even if they didn’t qualify) and collecting hefty […]
Read More ERC Voluntary Disclosure Program Gives Businesses a Discount on Questionable ClaimsForm W-2 Box 1: Why Are Box 1 Earnings Less than Boxes 3 and 5?
You’ve finished distributing Forms W-2. Just when you think you’re done, an employee comes up to you, hands you their form, and asks, Why are my W-2 Box 1 earnings less than my Box 3 and Box 5 earnings?
Read More Form W-2 Box 1: Why Are Box 1 Earnings Less than Boxes 3 and 5?How to Fill Out Form 944: Step-by-step Guide
All employers are responsible for reporting employee wage and tax information to the IRS. Many employers use Form 941 to report this information each quarter. But, some eligible small business owners use Form 944 to report wages and taxes annually instead. Are you one of them? If so, you need to learn how to fill […]
Read More How to Fill Out Form 944: Step-by-step GuideWhat’s Your Deposit Schedule for 2024? Look At Your Lookback Period for Forms 941 and 944
Do you know how often you need to deposit federal income, Social Security, and Medicare taxes? You can’t deposit the taxes whenever you feel like. Your deposit frequency is based on a lookback period. So, what is a lookback period?
Read More What’s Your Deposit Schedule for 2024? Look At Your Lookback Period for Forms 941 and 944A Year-end Payroll Checklist to Finish the Year Strong
As the year comes to a close, you might be gung-ho about all the goals you want to achieve next year. But before you can get the ball rolling in the new year, you must wrap up some things in the current year—including your payroll.
Read More A Year-end Payroll Checklist to Finish the Year Strong