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Business finance: The ultimate guide for non-finance people

BMT Office Administration

That trend continued in 2021, with only 34% of small businesses applying for bank loans. The catch is that a business’s fiscal year does not have to line up with the traditional calendar year. However, to avoid confusion, most companies ensure that their fiscal year aligns with the current calendar year. Why is that?

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

BMT Office Administration

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. The IRS used to give automatic 30-day extensions to file, but they phased that out in 2021 so be sure to file on time this year. Prizes and awards.

Payroll 52