Remove blog how-to-get-an-employer-identification-number-ein-for-your-business
article thumbnail

Last Week in Payroll: Backup Withholding

ThomsonReuters

BWH may be required if the payee failed to provide a correct taxpayer identification number (TIN) to the payer for reporting on the required information return. A TIN can either be the payee’s Social Security Number (SSN), employer identification number (EIN) or individual taxpayer identification number (ITIN).

payroll 98
article thumbnail

Do You Need an EIN For Shopify?

Snyder

Tax calculations can be tedious and complicated, and if you’re not careful, your Shopify store might run into legal troubles. To prevent that from happening, we’re here to answer another popular question asked by many new Shopify store owners–do you need an EIN for Shopify? What Is an EIN? Let’s dive in!

payroll 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

A Guide on How to Hire Your Kids and Pay Less in Taxes

LyfeAccounting

If you have kids under age 18 and a business, then you have a huge opportunity to save on taxes. And that is by hiring them in your business and placing them on the payroll. And we mean why not involve your kids in your business, show them the ropes, and teach entrepreneurship? It’s simple.

Tax 52
article thumbnail

How to Pay Your Employees in a Small Business

LyfeAccounting

?. Paying employees in any business is a difficult task. Mostly because there are 3 sides to paying your employees: 1. Determining how much to pay your employees. Designing your comp plan to actually motivate them to work hard for you and retain them. And, I’ve suffered the consequences of getting this wrong.

payroll 52