A 1099-MISC form is a tax form used in the United States to report certain types of income received by an individual or a business that is not considered wages, salaries, or tips.
A 1099-NEC form is a tax form used to report non-employee compensation to the Internal Revenue Service (IRS) in the United States.
The United States government levies federal income tax on the income of individuals, businesses, and other entities. It is a progressive tax, meaning the tax rate increases as income increases.
An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service (IRS) in the United States for individuals who are not eligible to obtain a Social Security Number (SSN).
The Internal Revenue Service (IRS) is the revenue service of the US federal government responsible for administering and enforcing federal tax laws.
Employees, companies, and self-employed individuals contribute to Medicare by paying a tax equal to a percentage of their gross salaries.
A pay stub calculator is a tool that helps employees calculate their net pay, also known as take-home pay, after deductions have been made from their gross pay.
Employers often use pay stub templates, which are pre-made documents or forms, to give their workers a detailed breakdown of their income and deductions for each pay period.