payroll tax, small business accounting and Start-ups

1099 vs W2: How Should You Pay Your People?

LyfeAccounting

NOVEMBER 2, 2020

So if you’re just getting started or trying to reevaluate your current infrastructure then this post is for you. Now I know a lot of guys out there, especially when you’re in the early stages of starting up, are wondering how to bring on their first employees. You’re expected to pay payroll taxes as an employer.

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Tax Credits You May Claim Now

MyIRSRelief

NOVEMBER 19, 2021

This credit is worth 50% of your startup costs up to $500 per year. Verify that you qualify, and if you don’t for the previous year, contact your EA, Attorney, CPA about starting up a retirement plan next year. You may claim this credit in the tax year before your plan goes into effect.

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1099 vs W2: How Should You Pay Your People?

Tax Credits You May Claim Now

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