Whether you are a contractor or an employer utilizing the services of an independent contractor, it is essential to pay attention to the way taxes are handled. While contractors are not by definition employees, an employer still needs to issue a 1099 MISC to all eligible contractors. If you are not sure who's a qualified contractor or how to issue a 1099 MISC, keep reading, and we will show you.
Who Needs a 1099 MISC?
Any ...
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What’s the Difference Between Salary and Hourly Paystubs?
You might be wondering if there is a difference between hourly and salary employees? There are advantages and disadvantages between hourly and salaried positions. Let's look at the differences between hourly vs salary.
Salary vs. Hourly Rights
As an hourly pay employee, you have rights given to you by the Fair Labor Standards Act (FLSA). These FLSA rules include mandatory overtime pay for hours over the 40 hours per week and a minimum wage that ...
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The Basics of Pay Stubs
Whether you’re an employee or an employer, you must know the basics of a pay stub. By understanding the different things that are on a paystub, you can catch accounting errors, and if you are an employer, help your employees decipher their paychecks.
What Are Paystubs?
A paystub is the itemized part of a paycheck. The paystub, also called a pay slip, shows the wages earned during a specific pay period and year-to-date. This will include your ...
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