Remove Forms Remove Industry Remove Management Remove Payroll
article thumbnail

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
article thumbnail

IRS update: digital communication and payroll

BMT Office Administration

It’s more challenging with business and payroll returns, because of the power of attorney; the IRS is beginning a POA initiative, he added. Zoom in for the payroll picture The IRS calls withholding voluntary, although your employees may beg to differ. Payroll is compliance-oriented; there’s very little wiggle room to be creative.

Payroll 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

4 Monumental Ways Banning Noncompete Clauses Will Transform The Future Of Work

Allwork

The FTC announced earlier this month that it is seeking to ban noncompete clauses, a stipulation that prohibits employees at a company from job hopping within their industry or sharing company insights, and often much more. . How and why noncompete clauses might be banned . Loss of Intellectual Property and Proprietary Information .

Policies 329
article thumbnail

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

BMT Office Administration

As any human resources professional will attest, managing every employee’s employment life cycle involves a good deal of paperwork. Knowing what to keep and the location of each document is vital to easy retrieval and to maintaining compliance with government and industry regulations. Health insurance forms.

Filing 121
article thumbnail

What Is The Impact Of Hybrid Working On Space Optimization?

Allwork

This shift has many benefits, but it also leaves facility managers, CFOs, and business owners wondering what will happen with their office real estate. While this shift has many benefits, it also leaves facility managers, CFOs, and business owners with a dangling question: what will happen with our office real estate?

Policies 291
article thumbnail

In-Depth Guide to the Timesheet Approval Process

BMT Office Administration

It’s up to each department manager to review the timesheets their employees submit to ensure accuracy. Time theft is a very real issue that affects organizations from all industries. Timesheet approval provides a way for managers to double-check their employee’s time punches to ensure there are no mistakes or missed punches.

Payroll 52
article thumbnail

How long do employers keep employee records?

BMT Office Administration

Payroll files. Your payroll files should include W-4s, W-2s, timesheets, direct deposits, and wage rates. ADEA (Age Discrimination in Employment Act) record requirements state you must retain payroll records for three years. The Fair Labor Standards Act (FLSA) states employees must hold onto payroll records for three years.

Payroll 98