by Maya Weinreb | Jan 28, 2021 | Corporations, Payroll
Understanding whether a business owner should be on payroll depends on your business structure, tax strategy, and federal and state requirements. This depends on your business structure: If the company is a sole proprietorship or a partnership, there is no need to be...
by Maya Weinreb | Jan 22, 2021 | Bookkeeping
Understanding the difference between an employee and a contractor is essential for proper payroll, tax withholding, and compliance with labor laws. An employee is someone who works for your business, and you pay them payroll and you pay payroll taxes on that money...
by Maya Weinreb | Jan 14, 2021 | Bookkeeping, Taxes
Because 1099s are due by January 31st, businesses should prepare early and verify recipient information to prevent costly IRS penalties. When you are paying an independent contractor (not an employee) and you paid them more than $600 in that calendar year, you are...
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