Hire a contractor for your business this year!

Not every aspect of your business requires a permanent employee. For many business owners, hiring a contractor is a great way to execute tasks that require skilled labor or short-term support. Need a logo designed, a cleaner, a consultant, or someone to develop a marketing plan or decorate your store? The options for hiring a

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E-Filing Tax Forms with Wagefiling: Just How Much Will It Save You?

Since the time businesses began having to report employee and contractor wages to the IRS and SSA, filing has been a bit of a hassle. Let us paint you a picture here. In the beginning, business owners would have to order W-2/1099 forms and software from a catalog (using a fax machine. Oh the horror).

W-2 vs. 1099: What’s the Difference and Why Does It Matter?

Having just reached the start of November, tax season may still be the furthest thing from your mind. The truth is, it shouldn’t be. As a small business owner, taxes and specifically, the forms associated with them, are crucial to have on your radar all year long. Equally as important is having a comprehensive understanding

You Just Found Out You’re Being Audited, Now What?

  When you want to bounce back from an audit, there are some tips that you will need to keep in mind. Being audited by the IRS can be an incredibly scary situation, so it is incredibly important that you learn the best ways to proceed. By taking these points into consideration, you will have

Five Things You Should Know About Paying Your Employees Fairly

  While some businesses start out with a single person behind them, most people eventually wind up hiring a few employees. Of course, if you're going to bring on employees, you'll need to make sure you compensate them appropriately. If you don't know what you should pay your employees, keep on reading. You'll be able

How to file a 1099-misc with a missing contractor tax id

A 1099-MISC form is used to report all income made by a contractor, as long as it is $600 or more for one taxable year. The 1099-MISC form must be filled out by the employer or client who hired the contractor. One of the most important parts of the 1099-MISC form is the Taxpayer Identification

2015-09-26T20:16:59-04:00July 22nd, 2015|Tags: , |

The Differences between an Employee and a Contractor: Tax Forms

Knowing how to tell the difference between issuing a W-2 form and a 1099-MISC form can be a little confusing, especially if you are part of a company that deals with many different types of workers. However, knowing which worker is an employee and which one is a contractor is important for your business so