The COVID-19 pandemic put a new spotlight on insurance: who is entitled to it and who isn't when an employee departs. The answer lies in the Consolidated Omnibus...
The IRS is encouraging taxpayers to make sure they're well-informed about their tax situation as the filing deadline approaches. The key topics include special...
Partnerships are considered pass-through entities by the IRS — they are not separate from their owners. All profits and losses pass through the business to the...
Form W-4 helps employers determine how much federal income tax to take out of their employees' wages. On the form, employees state their withholding conditions,...
The vast majority of states require employers to carry workers' compensation insurance, which helps pay lost wages, medical expenses, and rehabilitation costs for employees who are injured while doing a work-related activity.
Once you have at least one person working for your business, you're an employer. Being an employer comes with a wide range of responsibilities, including withholding, depositing, and paying employment taxes.
The IRS says, "All taxpayers should review their federal withholding each year to make sure they're not having too little or too much tax withheld." However, employees may not be aware of the IRS' suggestion, which is why employers should tell them about it.