How to Report Bonus on Tax Return: A Guide

Many employers issue annual bonuses to their employees and must know how to report bonus on tax return forms. Reporting bonuses requires all parties to understand their role. An employer typically reports bonuses that they paid to an employee in Box 1 of a W-2 form. Keep in mind that employers may issue bonuses in […]

The Benefits of W-2 Maker Software

Employers must take certain steps before they invest in W-2 maker software. You have already sought out employee consent and provided IRS-mandated disclosures. You informed all parties about key deadlines. It is only after taking these steps that employers can truly start considering what software meets their business’s needs. Going electronic for W-2 forms is […]

Who Needs 1095-C Software?

Employers must prioritize knowing if they need 1095-C software support. Remind yourself of the purpose of Form 1095-C. You will have a much easier time as you determine your business’s software needs moving forward. As a refresher — Form 1095-C includes the health insurance coverage information that an employer offered and if each employee enrolled […]

What Makes the Best Payroll for Bookkeepers?

Utilizing the best payroll for bookkeepers is essential for all businesses. Managing the books not only helps keep businesses afloat but fully on track. Knowing that the business’s numbers are up-to-date and accurate helps employers ensure payroll tax compliance. Some employers will choose to outsource for bookkeeping services. Yet they can choose to invest in […]

How to Calculate Medicare Tax with Payroll Software

Learning how to calculate Medicare tax and additional deductions is simpler when you invest in automated processing tools. Knowing which taxes make up the Federal Insurance Contributions Act (FICA) is the first step. Different rates apply for old-age, survivors, and disability insurance taxes. The Medicare tax rate remains consistent unless the government decides to alter […]

What is a C2C Contract?

Establishing a relationship between your business and a corporation is the basis for what is a C2C contract agreement. Small businesses entering into a corp-to-corp arrangement often want to recruit people without worrying about hiring longevity. Focusing on employee retention or a long-lasting relationship is not the purpose of establishing these contracts. It is primarily […]

Best Software Tools for 1099 Vs C2C Workers

Many businesses need to distinguish their worker classifications, which may include how they pay their 1099 vs C2C hires. Completing 1099 and Corp-to-Corp paperwork is similar in a few ways, but make sure to not get overly confident in your ability to distinguish and properly classify all of the workers that you hire. The key […]

What to Look for in 1099 Electronic Filing Software

Using 1099 electronic filing software all year helps small businesses reduce their manual errors and processing times. Employers no longer need to worry about aligning tax forms or printing each form. Independent contractors can also expect their annual Form 1099-NEC in a timely manner. An intuitive, user-friendly tax filing software is simpler for all parties […]

Is Cheap Payroll Software for Accountants Reliable?

Finding affordable tools with cheap payroll software for accountants helps make running client payroll more manageable. You may find that the process requires some patience. Perhaps you currently possess comprehensive software, but you have too many extra tools that you do not need. Maybe your software is affordable, but it lacks the fundamental payroll management […]

What Determines an Employer’s Payroll Tax Deposit Schedule?

Understanding what determines an employer’s payroll tax deposit schedule is crucial for small business owners. Depositing your federal payroll taxes by the established deadline helps make sure that your business meets the Internal Revenue Service’s expectations. First things first, determine your payroll tax deposit schedule based on the size of your company’s payroll. There are […]