Frequently Asked Bookkeeping Questions

EIN, TIN, DUA ID number - what are they?

EIN : Employer Identification Number - you should request one from the IRS if you have employees, or your business is a corporation or partnership. You can apply by phone, fax or mail. Go to this…

How do I get a free copy of my credit report?

You are entitled to one free copy of your credit report each year from each of the three major credit reporting companies. Since the information from each company should be very similar, you can…

How many hours does someone need to work before I have to have workers comp insurance?

As soon as you have ANY employees, for ANY number of hours, you are required to have workers compensation insurance. The first quarter after you have any payroll, you will also be required to pay…

I don't have a credit card. Why do I need to check my credit report?

Identity theft is a huge problem. Even if you've never applied for a loan or a credit card, you should check your credit report to make sure no one else has applied for anything in your name, and to…

I've been laid off - does my company have to continue my health insurance?

If your company had more than 20 employees on its group health plan, they may be required to offer COBRA (smaller companies may voluntarily participate but are not required to). COBRA allows you to…