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Business finance: The ultimate guide for non-finance people

BMT Office Administration

In particular, traditional business financing options like bank loans have been declining since 2020 — where they fell 6% from 2019 (43% to 37%, respectively). In fact, ROBS is currently the most popular form of business financing in 2023. Primarily, if your business venture fails, you’ll lose your entire retirement fund/401k.

Finance 105
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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

While individuals have until April 18, 2023, to file their personal income taxes, businesses have to start thinking about tax requirements a bit sooner. Employers must send Copy A of Form W-2 to the Social Security Administration (SSA) to report the wages paid and taxes collected for their employees during the previous calendar year.

Payroll 52