The University Enterprises, Inc., or shortly referred to as UEI timekeeping online is a part of the payroll services for UEI employees and student assistants employed by the UEI. The UEI timekeeping can be done online through the payroll services provided on the web. A timekeeper should inspect the hours worked by every employee and … Read more
Idaho ST-101, Sales Tax Resale or Exemption Certificate is the tax form for retailers use to claim exemption on the resale of items. In Idaho, all retail sales are taxable if a specific exemption doesn’t apply to the state or federal government. The sales tax exemption can be claimed if the buyer is an organization … Read more
The US military has different military ranks for different branches that make it up. The military ranks as we refer them might be different but there is always an equivalent rank in another branch. The easiest way to understand which rank is higher up is to take a look at the pay grade of that … Read more
Comparing 1099-K and 1099-NEC What are the key differences between the 1099-K and 1099-NEC? A8: Here’s a comparison: Aspect 1099-K 1099-NEC Income Reporting Gross Earnings Non-Employee Compensation (e.g., referral fees) Threshold for Issuance $20,000 and 200 transactions $600 Tax Form 1099-K 1099-NEC Reporting Location Tax return (Schedule C) Tax return (Schedule C) How Do I … Read more
Work Opportunity Tax Credit or better known as the WOTC is the tax credit for employers that hired individuals from certain targeted groups that have significant barriers to employment. There are categories of eligible workers that can be hired to qualify for the credit. Generally, employers who hire veterans are eligible for the WOTC. In … Read more
Form W-3, Transmittal of Wage and Tax Statements is the tax form that reports the total amount of wages and taxes withheld from employees’ income to the Social Security Administration. The difference between Form W-2 and W-3 is that Form W-2 is filed for each employee and the W-3 is filed for all employees. The … Read more
Forms 2848 and 8821 are similar tax forms that serve different purposes. Form 2848, Power of Attorney and Declaration of Representative gives authorization to an individual to represent the person who filed it before the Internal Revenue Service. The authorized person must be an eligible person to practice before the IRS. Take note that this … Read more
Form 8995. Qualified Business Income Deduction Simplified Computation is the simplified version of qualified business income deductions. Taxpayers who are operating a business can file the 8995 and reduce taxable income. In this article, we will go over the 8995 and give you the instructions to file it, Line-by-Line Instructions to File – Form 8995 … Read more
Connecticut Department of Labor unemployment benefits can be filed online through the website of the department. File unemployment benefits online and get the extended benefits. You can also claim federal unemployment benefits or reopen a previous claim for unemployment benefits. All can be done through the Connecticut’s official DOL website. Here is what to do … Read more
Estimated Tax for Individuals or Form 1040-ES is the tax form used for assessing the quarterly federal estimated tax payments. As the title of the form suggests, it’s for individuals that are trying to figure out their tax liability for the quarter. This is not your federal income tax return. See Form 1040 for that. … Read more