What is Form 1040-ES?

Unlike taxpayers who earn a salary and have taxes withheld—that is, taken out of their paychecks—taxpayers who are self-employed need to make estimated tax payments to…

What is a CP-575 Letter?

Form CP-575 is an IRS notice confirming that you have been granted an EIN (Employer Identification Number). The EIN is sometimes also referred to as FEIN,…

What is a DBA?

A DBA stands for “Doing Business As” and it allows you or your business to do business under different name than your legal entity name. As…

What is SDI?

SDI stands for “State Disability Insurance” and it’s a payroll tax that is required in some, but not all states. The tax is paid by employees,…

What is back pay?

Back pay is past wages or benefits that is paid to an employee retroactively. Back pay is often added to a regular-cycle paycheck or given in…