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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. These incentives are fully taxable and are subject to W-2 reporting.

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5 things you should do now to prepare for year-end payroll reporting

BMT Office Administration

However, Payroll teams are busy preparing for a different season — year-end reporting. You can be penalized for filing W-2s, 1099s, and 1095s on which you report incorrect Social Security numbers. For 1095 reporting by self-insured group health plans, you can also be penalized for not reporting employees’ dependents’ SSNs.

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IRS releases details on how to withdraw ERC claims

BMT Office Administration

Your 941-X reports items not on your original 941, in addition to the ERC claim. How to withdraw an ERC claim How to withdraw your ERC claim depends on how far along the IRS got in processing your 941-X and whether your third-party payroll provider submitted it for you. You want to withdraw only a portion of your claim (i.e.,

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What does it take to be a successful office manager?

Page Personnel

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). He or she must oversee finances, payroll, and other administrative tasks.

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The best timeclock options for small businesses

BMT Office Administration

Some time clocks have monthly fees that you will need to pay in order to access the reporting, mobile apps, or remote clock-in features. If you only have one work location that employees report to, such as a retail store or office, choosing a time clock will be fairly simple. This can make payroll processing more efficient.

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