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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 From the implementation of SECURE 2.0

Payroll 52
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Business finance: The ultimate guide for non-finance people

BMT Office Administration

The beginner’s business finance glossary “Our P&L report shows that our revenue is now greatly exceeding our expenses, and we’re showing a considerable profit.” “In So whenever you hear someone talk about their fiscal year, they’re referring to the 12-month period they use for accounting and taxes. The good news?

Finance 105
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Employee Files: What to include, what to leave out, and what’s confidential

BMT Office Administration

Recruitment documents Human resources departments should retain documents related to the hiring process, especially if you need to refer back to them later. Confidential documents include medical files, tax documents, employee benefits , payroll records, and more. Here’s what you’ll need to include in your confidential employee files.

Filing 52
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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

Usually, when you hear about 1099s during tax season, people are referring to IRS form 1099-NEC, the tax form that is sent to independent contractors in place of a W-2 form. It can also help to look at whether the worker is reimbursed for expenses incurred while completing the work. What is a 1099? How to fill out a 1099 vs a W-2.

Payroll 52
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It’s time to review (or create) your document retention policy

BMT Office Administration

As a starting point, consider what these organizations say about some major types of records to keep and for what length of time: Per the Internal Revenue Service : The length of time you should keep a document depends on the action, expense, or event which the document records.

Policies 105
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Stay organized and secure with electronic records management

BMT Office Administration

Some need to be easily retrievable should a government agency such as the Department of Labor (DOL) want to check employment verification or the Occupational Safety and Health Administration (OSHA) need to investigate an environmental concern. Payroll information. Do not expect employees to inherently know what stays and what goes.

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Small Business Bootstrapping Techniques | THE SMALL BUSINESS BLOG

The Small Business Blog

Small Business Bootstrapping Techniques by Stefan Töpfer on Oct 01, 2007 I often refer to “ bootstrapping “, when I talk about small business, you may very well be asking “ What the hell is bootstrapping?&# PAYweb Small Business Payroll Said on February 23rd, 2009 at 6:29 pm Great article, and very interesting comments.

2007 100