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    This addresses employment record retention & tax software.

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    1. What employment records are important to keep? Why?

    2. Taxpayers are responsible to file a tax return every year. Filling in the forms by hand, tax preparation software, tax preparers are a few of the methods of completing your income tax return. Compare and contrast two available tools. Which method will you/did you use this year? Why?

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    Solution Preview

    1. Employees should always keep all paperwork available to them - their W2s, payroll logs, record of miles driven if they receive mileage reimbursement, and records of training classes attended or times when they were called into work for additional hours. The employer should keep the same but to a greater level because the employer will retain more of the information in their files. They should keep payroll logs showing hours, which is one of the most important logs they can keep in ...

    Solution Summary

    This solution explains which employment records are important to keep, and also compares and contrasts available tax preparation tools.