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Your paycheck stub serves as proof of income and government agencies, lenders and landlords often request them to verify your earnings.
How you're classified as an employee will affect you file your taxes. So, does that mean you're a W-2 or a 1099 employee? If you're an employee, you'll receive a W-2.
Form 1099 is also used to report interest (1099-INT), dividends (1099-DIV), sales proceeds (1099-B) and some kinds of miscellaneous income (1099-MISC). Blank 1099 forms and the related instructions can be downloaded from the IRS website.
Payroll. Handling payroll typically involves sending out payslips to employees. A payroll is a list of employees of a company who are entitled to receive compensation as well as other work benefits, as well as the amounts that each should obtain. [1]
A salary statement, commonly called a payslip, pay stub, paystub, pay advice, or sometimes paycheck stub or wage slip, is a document received by an employee that either includes a notice that the direct deposit transaction has gone through or that is attached to the paycheck.
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Form 1099-MISC or Form W-2. The IRS is very strict on how you classify your employees and subcontractors. If you mistakely classify a service provider as a contractor that should have been on...
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