It's almost that time of year; tax season is nearly here. But with all the forms and applications you need to fill out, it's easy to get confused. No matter if it's your first time or you've been ...

Payroll accruals are sums that your business owes to workers for hours they have worked. Because few companies pay employees immediately, there is usually a lag time between the end of a pay period ...

If your employee punches a time clock, it saves you monitoring when they check in and out of the job. When it comes time to calculate payroll, figuring the hours for a 9 a.m. to 5 p.m. workday with an ...

We are a team of writers, experimenters and researchers providing you with the best advice with zero bias or partiality. The crux of the payroll function is to pay employee’s wages accurately. Payroll ...

Business News Daily provides resources, advice and product reviews to drive business growth. Our mission is to equip business owners with the knowledge and confidence to make informed decisions. As ...

Subtract standard deduction and pre-tax contributions to determine taxable income. Use tax tables to estimate federal tax; add state, Social Security, and Medicare taxes. After taxes, subtract ...

If an hourly employee works beyond 40 hours in a week, they are entitled to overtime pay. However, if that employee performs different roles at different pay rates, you may have to use a “blended rate ...

How to calculate what you owe the federal and state governments Lea Uradu, J.D., is a Maryland state registered tax preparer, state-certified notary public, certified VITA tax preparer, IRS annual ...

(Updated April 15, 2020: The SBA has provided additional guidance on how individuals with self-employment income who file a Schedule C, with and without employee. If you would like additional ...

Knowing your effective tax rate can help you understand how well you’ve been managing your tax situation throughout the year.