Hiring & Onboarding
A person who receives a W2
Employee
A person you pay for a specific task
1099 or Independent Contractor
a piece of paper given to an employee to show how much they have earned and any deductions
Payslip
Used to provide income to individuals who are disabled or retired
Social Security
Creates or forms business entity and performs tax filings
CPA, Accountants, EAs
Top Job Site Board in the USA
Indeed
person who receives a regular wage or salary for performing a role in your company
W2 employee
# used to identify a business entity.
Employer Identification Number (EIN) is also known as a Federal Tax Identification Number,
Money taken from an employee’s gross pay before taxes are withheld from the paycheck.
Pre- Tax Deduction
Sets up Business Insurance and Workers Compensation
P&C Agent
Ensures company rules and policies are understood
Employee Handbook
Tax paid by employers that are meant to cover unemployment benefits for employees who have lost their jobs.
SUI - State Unemployment Insurance
Filed every Quarter with the federal government if you have W2 employees.
Quarterlies or 941s
Lets you pay for qualified medical expenses and health care cost
HSA or FSA
Financial Institution where over 90% of direct deposits are received
Bank
A tax-processing number issued by the Internal Revenue Service (IRS) to ensure that people—including undocumented immigrants—pay taxes even if they do not have a Social Security number
ITIN
federal tax credit available to employers who invest in American job seekers who have consistently faced barriers to employment. Min $1,400 - Max $9,600 per employee
WOTC - Work Opportunity Tax Credit
The penalties for noncompliance can be as high as $2,000 for every 10-day period without coverage for your employee
Workers Compensation
Employees may choose to make salary reduction contributions and the employer is required to make either matching or nonelective contributions.
SIMPLE IRA
Required to be on any 401k retirement plan
Financial Advisor
Proves your allowed to work in the USA
I9 or Employment Eligibility Verification Form
The amount of time EEOC Regulations require that employers keep all personnel or employment records
Three Years
Court mandate for an employer to take money out of your check on behalf of a third party.
Garnishment
Individual Contribution Limit is $20,500 or if your older then 50 the limit $27,000
401k
Employment & Labor Attorney