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Tax Planning for Freelancers: 5 Strategic Moves To Make Now To Avoid Tax Pain Next Year

Allwork

According to the Internal Revenue Service (IRS), “a sole proprietor is someone who owns an unincorporated business by himself or herself.” ” In this form of business, the freelancer is personally responsible for all aspects of the business, including its debts and legal obligations. taxation.”

Legal 261
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AI Probably Won’t Take Your Job In 2024

Allwork

Gartner, a management consulting company known for its research into workforce trends, estimates that by 2028 50% of employees will have a “robo-assistant.” Analysts at Gartner, a management consulting company known for its research into workforce trends, share this positive outlook. How might we use AI at work?

2024 260
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Preparing to Move Overseas? Read This First

Success

Medical expenses abroad aren’t covered by Medicare or Medicaid either, says Anna Sosdian, the co-founder of StartAbroad , a relocation specialist company based in Costa Rica. Once you become a legal resident, you can sign up for the national health care in your new country. You can (or may need to) purchase international insurance.

Medical 264
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It’s time to review (or create) your document retention policy

BMT Office Administration

Worried that your company might not have a particular document on hand if the IRS conducted an audit? Creating an effective documentation retention policy involves reviewing company and human resources requirements, state law, federal law, industry and governmental regulatory requirements, and insurance policies.

Policies 105
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Benefits of outsourcing HR for small businesses

BMT Office Administration

HR outsourcing takes complex or time-consuming tasks off of small business owners’ plates so that they can focus on leading and growing their companies. Small businesses can outsource all of their HR operations, or just specific HR tasks that they don’t have the bandwidth to manage internally.

Payroll 52
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4 Smart Money Moves to Plan for Financial Security

Success

The recommended emergency fund amount to save for is three to five months of living expenses (think rent, utilities, phone bills, and so forth) in some form of cash. If your company doesn’t offer a 401(k) for whatever reason, you can open a Roth IRA on your own and max out your contributions—as long as you’re under the IRS income limit.

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Employee Records: End of year review & preparing for next year

BMT Office Administration

Yet, even the most seasoned HR employees occasionally need clarification about specific recordkeeping requirements, such as how long they should hold on to personnel records after an employee leaves the company. Some companies hold on to hiring documents such as resumes, job applications, and job descriptions. Hiring documents.

Medical 52