If you’ve never ran payroll for an employee before, you might never have heard of this type of payroll tax because it’s paid by the employer only.

It’s an abbreviation for the Federal Insurance Contributions Act. This is a U.S. federal payroll tax that is deducted from every paycheck.

FICA is actually two different kinds of tax combined: Social Security tax and Medicare tax.

So you’re ready to hire help in your business, but not sure whether to hire a contractor or an employee. Let’s talk about the similarities and differences so you can decide which is the best option for your business.

We’ve all been to a restaurant and seen those stacks of daily sales receipts stabbed through the center with a nail (or is that only a thing in the greasy spoons of North Carolina?).

A business tax deduction is expenses for your business that lower your taxable income.

Tax deductions are also commonly called tax write-offs as well.

As a coach you are charging your clients for sessions with you, so why are they sending you a W-9 form to fill out and what is it?

I remember the first time I heard someone mention an EIN back when I was a Virtual Assistant and had no bookkeeping knowledge. I was like, “What is that?”