What to Know About Employer ID Numbers

In general, businesses need an EIN. There are various ways to apply for one, but the IRS is happy to let you know that you may now apply online. It’s a free service. You are urged to check your state to discover whether you need a state number or charter. The...

Can You Make Direct Deposit Mandatory?

In 2016, the National Automated Clearing House Association (NACHA) reported that 82 percent of U.S. employees are paid by direct deposit, jumping from 74 percent in 2011. Clearly, direct deposit is on the rise. But you may be surprised to learn that, according to the...

The Finances and Taxes of Car Leasing

 Both leasing and buying have advantages and disadvantages, just like renting or buying a house. The most obvious difference is that with a lease, you get a new car every few years and don’t have to deal with selling the car. If you like having the newest...

Know How to Handle Canceled Debt

We all understand that  all understand that when we borrow money, we’re legally obligated to repay it. What happens when you’re forgiven in part and don’t have to pay back the full amount? After many huzzahs, you discover that it’s not entirely...

Employers: Know Your Tax Forms

If you run a business, you need to know about the following forms. Form W-2  Employers must complete a Form W-2 for each employee. These wages and taxes are reported annually on the W-2. However, W-2s aren’t filed directly with the IRS. Instead, employers...

5 Things to Consider About Changing Payday

You may have a good reason to change your payday, but before you make your move, be sure to take into account various rules and implications. Fair Labor Standards Act The FLSA requires prompt payment of wages but does not specifically address pay frequency or payday...