Doing payroll in Oklahoma involves more than paying employees. In addition to filing federal taxes, you must file state income and unemployment insurance taxes. There are exemptions for some workers, like military spouses, and the state has its own W-4 form (the document you’ll have new employees submit upon hire) with different withholdings than those…
How To
Can I Cash a Check Made Out to My Business Without a Business Bank Account?
The short answer to this question is no. Due to regulatory changes, this process has been refined over the years and generally requires a business relationship with a bank. Walking into a bank, endorsing the back of a business check, and requesting cash is not handled like it once was. Under certain circumstances, this may…
How To Fill Out Form 1120 for Tax Year 2024 (With Example)
All domestic C corporations (C-corps) must file IRS Form 1120, US Corporation Income Tax Return, every year they are in business—even if they don’t have any taxable income. The financial information in Form 1120 is pretty straightforward as long as you have your balance sheet and profit and loss (P&L) statement prepared before completing the…
How to Do Payroll in Tennessee: An Employer’s Guide
Learning how to do payroll in Tennessee is pretty simple since there are no state-specific regulations. Tennessee also does not have income taxes or any local taxes, and in turn, no state W-4 tax withholding form for you to process. Step-by-Step Guide to Running Payroll in Tennessee Tennessee follows federal guidelines for payroll, making the…
How to Create an Employee Survey to Boost Engagement
Creating an employee survey involves determining the survey goals, demographics, format, and questions; testing and analyzing the results; and, finally, creating an action plan. An employee survey should measure and improve engagement, evaluate the success of onboarding, or monitor reaction to a specific issue. It should also provide relevant and valuable insights into the employee…
How to Do Payroll in Louisiana: An Employer’s Guide
Processing payroll in Louisiana is relatively straightforward. Louisiana has only one state-specific payroll form and no local taxes. Its income tax system is progressive, with rates ranging from 1.85% to 4.25%—so the more an employee makes, the more they will pay in taxes. Step-by-Step Guide to Running Payroll in Louisiana Processing Louisiana payroll is not…
How To Complete Form 1120S & Schedule K-1 (+Free Checklist)
The filing of Form 1120S is required annually for every S corporation (S-corp). The return includes a combination of financial data and questions about the nature and operations of the business. We’ll cover how to enter the financial information and do an in-depth dive into the questions required on Schedule B. Step 1: Gather the…
How to Change Business Bank Accounts (And When to Switch)
The process of changing business banks requires you to determine your banking needs, research options, prepare required documents, set up automatic payments again, and even close your old bank account. However, in the end, picking the right business bank is rewarding. It’s normal for small business owners to want to change business bank accounts when…