Payroll is defined as the total amount of wages paid by a company to its employees and other workers. Your company's payroll may be your firm's largest business expense, and processing payroll is complicated. You must collect insurance premiums, retirement plan contributions and tax withholdings from employee pay.
The W-2 Form is the document an employer is required to send to each of their employees and the Internal Revenue Service (IRS) at the end of the year. The form reports the employee's annual wages and the amount of taxes withheld from his or her paychecks.
The Articles of Incorporation is a company formation filing applicable to corporate entities. This document records the creation of the corporation, and no business can occur prior to its filing.
A Tax Return is a form(s) filed with a taxing authority that reports income, expenses and other pertinent tax information. Tax returns allow taxpayers to calculate their tax liability, schedule tax payments, or request refunds for the over-payment of taxes.
The Credit Card Reconciliation process begins when credit card statements are initially received, or after the close of a financial period. Accountants go through each transaction on the credit card statement and match it to transactions in the company's internal systems.
Online Bill Payment is a secure electronic service that allows customers to pay bills without having to write checks and mail them.
Properly filing a Sales Tax Return can be a lot trickier than it would first appear. As with most things that are sales tax related, there are a number of different factors that you need to be aware of in order to do the job right.
Estimated Tax is the method used to pay Social Security and Medicare taxes and income tax, because you do not have an employer withholding these taxes for you.
The 1099 Form is a series of documents the Internal Revenue Service (IRS) refers to as "information returns." There are a number of different 1099 forms that report the various types of income you may receive throughout the year other than the salary your employer pays you.
A Start-Up is a company that is in the first stage of its operations. These companies are often initially bankrolled by their entrepreneurial founders as they attempt to capitalize on developing a product or service for which they believe there is a demand.
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business. Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation.