Our article provides Form 8027 instructions by section, from basic business information to the amounts of tips to be allocated. The form is used to report food and beverage sales, report tips declared by employees, and identify any additional allocation of tips by the employer. It must be completed by large food or beverage establishments,…
How To
Step-by-Step IRS Form 8846 Instructions
The steps below are designed to help you make sense of the IRS Form 8846 instructions for claiming the FICA tip credit. Examples of the completed form have been provided for reference. To prepare the form, you’ll need to have the company’s legal name, EIN, and total tips paid to employees during the year. Form…
How to Create a Wix Website in 10 Easy Steps (+ Video)
Wix is one of the top website builders I always recommend to small businesses. It’s simple, free to start, and has hundreds of templates you can easily customize. It also lets you build an online store and, on the marketing side, boasts some of the best SEO capabilities. Below, we’ll go through how to build…
How to Manage Customers & Create Invoices in Xero
In this guide, we’ll go over how to create and manage customers in Xero by navigating to the Contact page and completing the contact creation form. Additionally, we’ll cover how to create an invoice in Xero—which involves navigating to the Invoice page and providing the information requested in the invoicing form. Furthermore, you’ll learn how…
How to Terminate a ROBS 401(k) Plan
Terminating a Rollover for Business Startups (ROBS) 401(k) plan can lead to hefty fines and penalties from the IRS if done incorrectly. These types of plans are heavily regulated, so it’s important that you understand the steps involved to ensure you don’t incur unnecessary fines or other expenses. If you have a ROBS provider or…
How to Manage Generation Z in the Workplace: Tips for Success
Generation Z, born roughly between 1997 and 2012, is the first generation to have grown up entirely in a digital world, with technology deeply embedded in their everyday lives. This digital immersion has shaped their behavior, preferences, and expectations. To effectively manage Generation Z, it is crucial to capitalize on that love and appreciation for…
How to Calculate Gross Pay for Employers + Free Calculator
Gross pay is the amount of money you pay an employee before any deductions are withheld, such as for taxes. It’s the basis for figuring everything from Federal Insurance Contributions Act (FICA) withholdings to overtime wages. Learning how to calculate gross pay is simple; the most important thing is that you understand the types of…
Social Recruiting: A Small Business Guide
Social recruiting is the process of finding new employees by advertising on and reaching out through social media, personal networks, and job search websites. It is increasingly a strategy that companies of all sizes employ, as it helps employers connect quickly and easily with potential applicants and candidates. This article covers the benefits of social…