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What’s the Difference Between Payroll Tax & Income Tax?
The main distinction between payroll tax vs. income tax is that employers only pay payroll taxes, while employees pay both types of taxes.
What is a Cash Salary? How to Report it + Pros & Cons
Cash salary is a type of compensation given to employees, wherein the payment is given in the form of ready money.
How To Spot a Fake 1099 Form & What to Do About It?
The most essential step in spotting a fake 1099 form is to verify that the name, address, and income information reported are accurate.
What’s the Difference Between 1099 NEC & 1099 MISC Forms?
It is important to know when to use the 1099-NEC vs. 1099-MISC form to ensure payees receive the correct form needed to file their tax returns.
Payroll Codes Explained: How to Read Them From a Pay Stub
Payroll codes are abbreviations on pay stubs used to represent specific information about employee earnings, withheld taxes, and deductions.
How to Fill Out & File 1099 MISC Form: The Essential Guide
The key to understanding how to fill out a 1099-MISC form is to know the type of miscellaneous payment to report and the correct fields to fulfill.
How to Prove Income When Paid in Cash: 6 Valid Documents You Can Use
Creating pay stubs, depositing earnings, and requesting a proof of income letter are examples of how to prove income when paid in cash.
How to Create a Budget Using Your Pay Stubs: Full Guide
A pay stub budget is a money management strategy that uses pay stubs or paychecks as a guide in creating a workable budget plan.
What is an Earnings Statement: Definition, Components & Importance Explained
An earnings statement is a type of financial report that summarizes the gross and net wages paid to employees in a given pay period.
How to Prove Income as Self-Employed: 6 Methods Explained
The different types of acceptable self-employed proof of income are 1099 forms, bank statements, pay stubs, and profit and loss statements.
What is a Payroll Ledger? Full Guide on How to Use & Create it
A payroll ledger is a type of recordkeeping process that businesses use to track payments to employees, contractors, and other businesses.
What is a Check Number on a Pay Stub & Why It’s Important
A check number on a pay stub is a unique reference number assigned to each paycheck that helps the payroll management process.
What to Do With Multiple W-2 Forms From Different Employers?
Receiving multiple W-2 forms from different employers means all forms with complete and correct information need to be kept secure before the tax deadline.
How to Get Your W-2 Forms From Previous Employers
Sending a request email and contacting the payroll department or the IRS are some ways to get a W-2 form from your previous employer.
Full Guide on How to Get Pay Stubs from Previous Employers
The best way to get pay stubs from a previous employer is to email a request letter to HR or payroll personnel. Read to learn more.
How to Calculate W-2 Wages From a Pay Stub
To calculate W-2 wages from a paystub, get the values for gross pay, pre-tax deductions, non-taxable income, and annual tax withholding.
What Are Net Terms on an Invoice & How to Interpret Them
Net terms are deferred payments that highlight flexibility in helping customers settle their payments in a timely manner. Read to learn more.
How Many Pay Stubs Do You Need For a Car Loan?
The minimum number of pay stubs needed for a car loan is at least two to three months' worth of your most recent pay slips. Read to learn more.
What Happens if You Don’t File Your W-2 Form?
Read this helpful and detailed guide on what happens if you don't file your W-2 form to avoid penalties and keep your tax obligations in check.
Is Unemployment Taxable? Tax Treatment on Unemployment Benefits Explained
Unemployment is taxable federally, locally, and state-wise, with the tax rates for unemployment varying per state and locale. Read to learn more.
Different Types of Paystub Paper [& How to Create Your Own]
The three most common types of paystub paper are standard printer paper, software-friendly paper, and business checks. Read to learn more.
What is Income Tax in the US? Definition, Types & Calculation
Income tax is a direct tax levied by the US government on regular income. It is a major contributor to sustaining the government's budget.
The Differences Between a Pay Stub and a Pay Slip
The distinction between a pay stub vs. pay slip primarily lies in the preferred regional use and the scope of payroll information in each document.
Non-Exempt vs. Exempt Employees: Differences Explained
Between non-exempt vs. exempt employees, the former are entitled to overtime pay and the minimum wage, while the latter are not.
What is Gross Income & How to Calculate it (w/ Examples)
Gross income is the total earnings before taxes and deductions. Net income results from applying taxes and adjustments to gross pay.
What is Prorated Salary and How to Calculate it [Full Guide]
Prorated salary is a percentage of an employee's regular pay determined by the work days or hours completed in a pay period.
Outstanding Payment Meaning & Strategies for Collecting Them
Outstanding payment is any unsettled amount in a client's invoice. Read this article to learn how to manage outstanding balances effectively.
What is Proof of Income: When It’s Needed & How to Show it
Proof of income is any valid document affirming a debtor's income and financial capacity to repay loans, afford rent, and buy a car or home.
What Happens if You File Taxes Late & How to Avoid It
Read this article to discover what happens if you file taxes late, including the possible penalties and fees that you must potentially settle.
What is Retro Pay? How to Calculate and Distribute It
Retro pay is a type of supplemental compensation given to employees as a result of discrepancies in their last paycheck. Read to learn more.
