Whether you are a contractor or an employer utilizing the services of an independent contractor, it is essential to pay attention to the way taxes are handled. While contractors are not by definition employees, an employer still needs to issue a 1099 MISC to all eligible contractors. If you are not sure who's a qualified contractor or how to issue a 1099 MISC, keep reading, and we will show you.
Who Needs a 1099 MISC?
Any contractor ...
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What’s the Difference Between Salary and Hourly Paystubs?
You might be wondering if there is a difference in paystubs between salaried and hourly employees. This article gives a point by point comparison of the two.
Salary vs. Hourly Rights
As an hourly employee, you have rights given to you by the Fair Labor Standards Act (FLSA). These include mandatory overtime pay for hours over the 40 hours per week and a minimum wage that you must be paid, which is determined by your state. The majority of salaried ...
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The Basics of Pay Stubs
Whether you’re are an employee or an employer, you must know the basics of a pays stub. By understanding the different things that are on a paystub, you can catch accounting errors, and if you are an employer, help your employees decipher their paychecks.
What Are Paystubs?
But exactly, what is a pay stub?
A paystub is the part of a paycheck that itemizes the wages earned during a specific pay period and year-to-date. The total amount of ...
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