Escheatment (often called “escheat” or “unclaimed property”) is the legal process by which assets or property that have been abandoned or left unclaimed by their rightful owner are transferred to the custody of a state government. In the U.S., states act as custodians — not permanent owners — holding assets until the rightful owner or …
When you hire employees, one of your key responsibilities as an employer is managing payroll taxes. Among these is the State Unemployment Tax Act (SUTA) tax—a crucial component of your state and federal unemployment insurance obligations. This guide explains what SUTA tax is, how it works, how much it costs, and how to pay it. …
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When it comes to payroll reporting in the United States, employers often find themselves juggling several important tax documents. Among them is the Form W-3, a companion document to the Form W-2. While most business owners and HR professionals are familiar with W-2s, fewer understand what W-3 forms are, who needs to file them, and …
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California has some of the most employee-friendly labor laws in the United States. Among them is the Private Attorneys General Act (PAGA), which gives workers the power to act as private attorneys general to enforce labor laws when the state is unable to do so directly. PAGA lawsuits have been on the rise in recent …
The Form I-9, officially called the Employment Eligibility Verification Form, is a crucial document required by the U.S. Citizenship and Immigration Services (USCIS). Every employer in the United States must ensure that employees hired after November 6, 1986, complete this form. The purpose is simple: to confirm the identity and employment authorization of every individual …
Continue reading “Form I-9 Instructions 2025: A Complete Guide for Employers and Employees”
When it comes to taxes and employment status, understanding the difference between IRS forms W-2 vs. W-9 is essential. Whether you’re an employer, employee, freelancer, or independent contractor, knowing when to use each form can help you stay compliant with IRS regulations and avoid costly mistakes. In this article, we break down the key differences …
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Payroll taxes are an essential responsibility for every business owner in the United States. Navigating them properly ensures compliance with federal and state laws while avoiding costly penalties. This employer’s guide to payroll taxes breaks down the fundamentals, from what payroll tax is to the steps you need to take to stay compliant and avoid …
As a business owner, one of the most common questions you’ll face is: “How do I pay myself?” Should it be through an owner’s draw, or should you set up a salary like a regular employee? The answer depends on several factors—your business structure, your role in the company, tax considerations, and how much you …
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Choosing the right business structure is crucial for small business owners and entrepreneurs. Among the most common corporate structures in the U.S. are S Corporation (S Corps) and C Corporation (C Corps). While both offer limited liability and corporate benefits, their differences in taxation, ownership, and compliance can significantly impact your business. This guide compares …
The recent rulings regarding Beneficial Ownership Information (BOI) reporting requirements have sparked interest and confusion among small business owners across the United States. In this article, we will break down what these rulings mean for small businesses and why many are not required to file BOI reports. We’ll also cover insights from CPA organizations and …
