Payroll Accounting: The Basics Payroll is an integral part of every business. The payroll accounting process involves paying wages, calculating hours, applying benefits, deducting taxes and collecting garnishments, all while staying in compliance with federal rules, state laws and...
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Is an Outsourced CFO Right for You? Outsourced chief financial officer firms provide you with an external expert to guide your company’s financial strategy, operations and planning on a part-time, contract or project basis. Leveraging this kind of external...
Employee vs. Freelancer: Tax and Financial Implications Let’s say you decide to onboard a freelancer, also known as an independent contractor. What should your next tax- and finance-related moves be? Let’s find out! What to expect when you onboard...
Tax Implications of Bonuses If you get pleasure from rewarding your team’s performance with bonuses, you are not alone. But it’s important to consider how those bonuses are given, along with the tax implications for both you and the...
Classifying Your Employees Correctly Employee classifications are based on job duties and responsibilities. The classifications impact compensation, benefits and work hours; they are also used by employers to maintain compliance with labor laws. The most common classifications are exempt and nonexempt. Exempt...