Both parties are obligated to contribute a set percentage of the employee’s gross income. As of 2023, this rate is 6.2% for Social Security and 1.45% for Medicare from both the employer and the employee, making it a combined contribution rate of 15.3%. Employers have the responsibility of withholding these contributions from employee paychecks and …
Federal Insurance Contributions Act FICA Definition Read More »
Remember, taking a few extra moments to verify your information can save you time and hassle in the long run. For example, imagine you’re depositing two checks, one for $1,500 and another for $2,500, and you want $200 in cash back. You would list each check separately, add them for a subtotal of $4,000, then …
Deposit Slip: What It Is, How It Works, Benefits Read More »
With these tools, you’ll always know which construction materials you have on hand and in what quantities. This way, you can continue serving your clients without the tedious work of manually checking your stock counts. All businesses, including construction firms, should regularly review their incoming and outgoing cash to assess their financial health. This process …
The Best Accounting Software Services for Contractors Read More »
Through this approach to accounting, you’ll estimate a project’s end date and calculate your revenue based on how much work your team has done. Paying your suppliers on time and tracking the money your employees spend on your company’s behalf is key to managing your cash outflows. Accounting software platforms include bill pay and expense …
Bookkeeping & Accountant for General Contractors & Builders Read More »
Analyze business goals for sales, profit or variable costs while your fixed costs remain constant. The scenario of this calculator assumes that you are maximizing your current fixed costs and other elements of your business such as pricing will stay the same through your target. Unit variable costs and production volume will remain constant and …
You can set a target profit for your business and find out what that means in terms of projected sales and required variable costs to reach your goal. Likewise, you can set a target for your sales or variable costs and calculate what that means in terms of the other two variables. Aside from the determination …
I’m happy to lend a hand with your payroll liabilities. When dealing with benefit premiums, you might need to pull the related invoice to see who you were charged for and how much. You’ll also need to take a deep dive into the payroll deductions you received for the period. Support This will enable you …
How To Adjust Payroll Liabilities In Quickbooks Online Read More »
I have just spent 1 1/2 hours on the phone with a QBO Payroll “Specialist” who had no idea how to fix this issue. Since QBO has many many non profits one would think that they would make this an easy fix. I now have a case number and am waiting for someone to call …
How to Reconcile Payroll Liabilities in QuickBooks Payroll in 6 Easy Steps Read More »
Instant Payout is an additional service currency translation adjustments offered by Wave subject to user and payment eligibility criteria. A 1% fee is applied to the amount you withdraw from your available balance, in addition to regular processing fees. Deposits are sent to the debit card linked to your account in up to 30 minutes. …
Want to look more polished, save more time, and conquer cash flow? Wave has helped over 2,000,000 North American small business owners take control of their finances. “It’s not just a cool piece of software, it is giving peace of mind to people.” You deserve to know your taxes aren’t something you have to sweat …
Wave Financial: Financial Software for Small Businesses Read More »
