Being a freelance contractor in the United States, a small business owner with a couple of employees, or a long-term employee, understanding and managing your payroll documentation provides the groundwork to be legally compliant, financially secure, and for audit purposes.<\/p>\n
The pay stub, annual W-2 form<\/a>, and 1099<\/a>\u2019s which are now more common are all legally required forms of documentation to prove your income to creditors, potential landlords, and the IRS. Poor documentation can cost you a tax refund, mortgage denial, or even a tax audit.<\/p>\n To be compliant with the IRS regulations, organized, and financially empowered, all working Americans in all 50 states need to understand how to generate, access, and maintain these documents.<\/p>\n