Information on how to file payroll taxes for your business
With nearly 51 million independent contractors working in the U.S. today, chances are your company or small business is paying a 1099 worker. And those payments—whether to a consultant, freelancer or gig worker—need to be reported to the Internal Revenue Service (IRS) using 1099 forms. This post will review the most common 1099 forms, worker […]
While many businesses use payroll solutions to pay W2 employees, they often rely on other apps to pay independent contractors and 1099 workers. Due to their ease of use and popularity among consumers, it comes as no surprise that business owners and managers are drawn to peer-to-peer (P2P) payment solutions like Venmo, PayPal, Zelle, and […]
In early August, President Trump signed an executive order to defer employee contributions to payroll taxes from September 1 through the end of 2020. Few details were initially available on how the payroll tax deferral would work and if taxes would be forgiven. On Friday, the IRS issued guidance that provided details on who’s eligible […]
Most employees fill out a W-4 form when they first start a job and never think of it again. But the start of the new year is a good time for them to review their tax status and decide if it makes sense for them to submit a new 2020 W-4 form. This year, the […]