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Small business tax credits and deductions you should know about

BMT Office Administration

And now is the time to think about them, since the tax-filing deadlines for calendar-year corporate returns are fast approaching—March 15 for S corps and April 18 for C corps. For 2023, you can deduct up to $1.16 In 2023, this amount is $2.89 Congress routinely showers small businesses with tax preferences. Your taxable income.

Payroll 98
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IRS releases e-filing waiver guidance

BMT Office Administration

Since the bulk of the returns counted to determine whether you’re a mandatory e-filer are information and payroll returns, you need to take the lead and inform other departments of their new e-filing mandate. The TFA also includes a knock-on provision, which requires you to e-file other returns.

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Ensuring payroll compliance in 2024: What’s new?

BMT Office Administration

Maintaining payroll compliance is a must for accounting departments, but it’s often easier said than done. That’s especially true whenever new changes come about, and 2023 was a year rife with new payroll regulations, trends, and initiatives. From the implementation of SECURE 2.0

Payroll 52
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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. 1099 workers also are not generally paid through regular payroll and do not typically have taxes withheld from their checks or deposits. Booth copies must be sent out by January 31.

Payroll 52
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What does it take to be a successful office manager?

Page Personnel

simonewu 24/01/2023 Office managers are responsible for making sure everything runs smoothly in the office. Office managers may also draft documents, help with payroll, keep an organised office environment and communicate via phone, email and fax (yes, some companies are still using fax machines).

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Business finance: The ultimate guide for non-finance people

BMT Office Administration

In fact, ROBS is currently the most popular form of business financing in 2023. 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.

Finance 105
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How to handle remote employee time tracking

BMT Office Administration

Now in 2023, it’s projected that 25% of the workforce will engage in remote work in one form or another. While time clock software offers no way to track progress on individual tasks, it does provide an organized way to track your team’s billable hours for payroll purposes. #5: Prior to 2020, only 6% of all employees worked remotely.

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