Tax filing season is just around the corner, and with it comes the need for employers and employees to review their paychecks and ensure they’re paying the right taxes.
It’s not surprising that many don’t understand how to review their paychecks and determine whether their taxes, deductions and monthly pay is correct. However, it’s important to know how to do this, as even small errors can lead to you owing the taxman money or falling foul of a tax-related penalty.
ThePayStubs was created to help both employers and employees make check stubs online with incredible ease. In just under two minutes, you can input salary and company information and pick a design, and the pay stub generator will do the hard work for you, calculating the figures and providing you with a printable pay stub.
Below, we look at how the paystub maker from ThePayStubs is helping companies and their employees efficiently keep track of their finances:
- For employers, it’s a brilliantly easy way to generate pay stubs for your employees
Historically, creating pay stubs for employees can be very time consuming. Often a manual task, companies find it difficult to pull in employee details, calculate the correct pay, taxes, and deductions, and present this in an easy-to-view format.
Employers can use the generator and create individual paystubs in just minutes. Enter information such as company name, work schedules and salary details, choose a design that suits your company, and generate a printable paystub.
- Keep track of salary information, taxes paid, overtime pay and more, and review for mistakes or inconsistencies
Employers and employees choose to use the paystub generator as a way to evaluate and keep track of earnings, taxes, and deductions. Anybody can use the tool, but it’s of particular benefit to employees whose earnings differ from month to month, or for companies that pay individuals varying rates.
Simply input earning details and the paystub creator will take care of the calculations. This saves companies time and effort, while ensuring they are paying and deducting correctly.
If you’re an employee who has a company-generated paycheck, you can use the tool to create your own paystub and stay in control of your earnings and taxes, while checking it against the company-generated paycheck for mistakes or inconsistences.
- Keep a sophisticated paper trail of proof of income
One of the best uses of this paystub creator is that it allows you to print out pay stubs. This means companies have s sophisticated paper trail of their salary payments, while also providing the employee a way to manage their proof of income.
Many financial products or services, such as bank loans, credit cards or mortgages, require you to provide proof of income in order to be approved. Creating a printable pay stub ensures that you can provide this as and when required. Whether you’re creating a pay stub for a direct deposit or any other form of income received, ThePayStubs helps you easily create and print the required proof of income.
- Breeze through tax filing season
The implications of not paying the correct tax can be pretty vast. At best, you may owe the taxman money the following year, and at worst, you could be in line for large financial penalties. As such, it’s critical that companies ensure their employees pay the correct tax, and that the employees themselves have the tools and knowledge to review and confirm that their earnings and taxes are correct.
The pay stub generator is a vital tool that makes tax filing season a breeze. Not only can it be used to calculate the correct taxes each month, but the printed pay stubs can be routinely used to document taxes, providing you with a physical document to look back on and review.
Ready to generate instant online paystubs?
There are a tremendous number of benefits to generating paystubs through ThePayStubs. Not only do they allow employers and employees to stay in control of payments and earnings, particularly when it comes to tax, but the check stub maker is incredibly easy to use. Get started today ahead of tax filing season.
ThePayStubs is also number one source of other financial documents like W2 Form and 1099-MISC.
More Information:
ThePayStubs is a national accounting firm based in California, United States. With the help of our experienced accountants, we created this tool to help our clients who own small businesses, generate check stubs for their own employees without having to purchase expensive and complicated software.
About ThePayStubs
The Paystubs is an online check stub generator, created by a professional accounting firm.