TL;DR Accounting

My Business Is Growing, HELP! (AKA: “When to Outsource”)

30

Jan

Bookkeeping, Employees, TaxesGrowing

My Business Is Growing, HELP! (AKA: “When to Outsource”)

https://youtu.be/RypwFWrHtyM First of all, congratulations! We here at TL;DR are well aware that running a small business can be very challenging, and if your business is growing then it means you’re doing something right. So please, just take a quick moment to give yourself a pat on the back — we’ll wait. Oftentimes it can feel like it took such a long time to get that boulder-of-a-business moving, and then sometimes it feels like it’s rolling downhill too fast and you wish you could slow it down. However, turning down business can be a very bad thing if it isn’t…

Remember: W-2s and 1099s Are Due in January

https://youtu.be/MuBt9iDn4vo Do you have employees? Then don’t forget to file W-2s in January! Do you hire contractors? Then remember that 1099s are due in January! What’s a W-2? You might already know what a W-2 is, but let’s start with a quick refresher: a W-2 is the document that you, the employer, use to report each employee’s earnings to the Federal Government as well as the employee. It shows gross earnings less deductible items like medical premiums, payroll taxes like social security, and other important annual items. A W-2 is not to be confused with a W-4, which is that…

FYI: Washington Paid Family and Medical Leave

The WPFML is a new mandatory insurance program administered by the Employment Security Department. The program gives eligible employees access to up to 12 weeks of paid leave to recover from a serious illness or injury, bond with a new child, or care for an aging parent or ill or injured family member. They may receive up to 16 weeks if they have events covered under both family and medical leave in the same qualifying period. What do the benefits cover? Paid Family and Medical Leave benefits can only be disbursed to those who have a qualifying family or medical…