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Employee personnel files — what should and shouldn’t be included

BMT Office Administration

Setting up employee personnel files is an important part of the recordkeeping process. However, sometimes people mistakenly think of these files as a catch-all for an individual’s paperwork. Rather, understand that general personnel files serve a distinct purpose. What to include in an employee’s personnel file.

Filing 121
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6 Commonly Overlooked Tax Deductions to Maximize Your Return

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“Can a dead person deduct medical expenses?” “Can Additionally, self-employed individuals can leverage deductions for home office expenditures and health insurance premiums. Even though medical marijuana is legal in many states, you can’t deduct it as a medical expense or pay for it with your HSA. 223(d)(2)(D).

Expenses 226
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Preparing to Move Overseas? Read This First

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Before you move, here’s what you need to know about everything from establishing residency abroad to health care, taxes, visas and costs. Health care. health insurance may not cover you. medical insurance may only provide minimal coverage for urgent situations outside the country. You have to file U.S.

Medical 264
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Employee Files: What to include, what to leave out, and what’s confidential

BMT Office Administration

While dealing with lots of paperwork doesn’t rank as most HR professionals’ favorite task, proper recordkeeping for employee personnel files is a must for any organization. In addition, if an employee is involuntarily let go, their employee file must be kept for one year following the termination date. Why is that?

Filing 52
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Do I Need an Estate Plan?

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The other purpose of a will, and in some cases, a trust, is to designate guardianship of your minor children or other people you are legally responsible for. The executor you name will handle your bequests and filing pertinent information with the court. An estate plan will provide for young children.

Medical 229
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4 Smart Money Moves to Plan for Financial Security

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A survey by Insider and Morning Consult from 2019 showed that millennials were more likely to put off buying houses, making career moves, undergoing medical procedures and even getting hitched—all because of cash-related reasons. In 2021, that limit is $140,000 for individuals and $208,000 for married people who file their taxes jointly.

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

BMT Office Administration

Legal consult proves especially helpful in matters involving the organization’s litigation hold policy. Their advice places a legal hold on physical and electronic records that should not be deleted because of potential future use. When constructing your policy, examine legal and regulatory guidelines. Per the U.S.

Policies 105