What is the W2 vs 1099 Tax Difference?

If you want to start a new business, spend time learning about the W2 vs 1099 tax difference. As an employer, making sure that you hire the right people will determine your company’s success. It might involve hiring full-time or part-time employees. Other times, you may look to hire some independent contractors. Your business will […]

When to Use Form W2 Versus W4

Knowing when to use Form W2 versus W4 is important for businesses of any size. You and your staff should understand the situations in which each form is necessary. For example, you should use Form W-4 to provide information about tax withholdings. These withholdings come from employees’ paychecks. Conversely, employers submit Form W-2 to report […]

How Small Businesses Can Avoid a W2 Late Filing Penalty

As an employer, always set reminders so that the federal government does not hit you with a w2 late filing penalty. All employers must meet the Jan. 31 deadline for Form W-2. That means, you must furnish copies to employees, paper file, or E-file to the Social Security Administration. For new employers, Form W-2 serves […]

Why You Need the Best Payroll Software for Small Business

Looking for the best payroll software for small business needs can take time. While you should carefully consider your options, you do not want to wait too long to get needed payroll software. That is why you should know the ins and outs of your small business’s payroll software requirements. Payroll can become complicated, especially […]

What the Best Payroll Companies Offer in 2022

When looking for payroll software, keep in mind that the best payroll companies offer many services. What may make sense for a large company, may not serve a small business well when running their payroll. Ultimately, these companies should help you with a few generic features. A business should be able to process payroll, calculate […]

What are the Tax Benefits of 1099 vs W2 Workers?

The tax benefits of 1099 vs w2 workers is the biggest distinction between independent contractors and employees. Employers and supervisors will treat you differently based primarily upon your work title. The reason for the different treatment is that employers navigate payroll taxes and withholding. Inversely, your supervisor as a 1099 worker will have their separate […]

Is There a W2 Self Employed Tax Form?

Employers sometimes think there is a W2 form they use for self employed workers, but the reality is that there is no W2 self employed tax form. A review of how self employed individuals pay taxes to the IRS may be useful for understanding how an employer handles reporting the wages they pay to people […]

W2 Record Retention Guidelines You Should Know for Tax Season

Employers need to follow W2 record retention guidelines to remain in good standing with the IRS. With tax season around the corner, you may be looking for a reminder of the retention guidelines for your tax forms. In the event that the IRS requests old tax records or you need to produce them for your […]

Why You Need a W2 Printing and Mailing System Ahead of Tax Season

Tax season involves many moving parts, so be sure to establish a plan for W2 printing and mailing so that you remain organized and efficient throughout. While the printing and mailing steps of the tax filing process may seem trivial, they are important steps for sending the right forms to the right parties. Without a […]

Differences in Filing Taxes 1099 vs W2

Questions about taxes 1099 vs W2 arise each year as employers prepare for tax season. Your business may have employed both employees and independent contractors in one tax year. If this is the case, you will need to know how to file taxes for each type of worker since the requirements differ. Employers can reference […]