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Stay on track with this payroll compliance checklist

BMT Office Administration

Payroll compliance is no small task. Everyone knows that executing payroll accurately and on time is important, after all everyone wants to get paid for their world. However, there is also a lot more that goes into proper payroll processing including a large number of compliance functions and concerns.

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

BMT Office Administration

They create a document retention policy that clarifies what needs to be saved, where, and for how long. Sticking to a set record retention policy eliminates guesswork and promotes efficiency. Businesses and nonprofits of all sizes should possess a written-out document retention policy. Such action raises concern about cover-ups.

Policies 105
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4 Monumental Ways Banning Noncompete Clauses Will Transform The Future Of Work

Allwork

By barring companies from implementing such policies, workers would be able to seek greener pastures as they please. . Research from the Economic Policy Institute shows 49.4% The fight to keep and attract top candidates would also lead to higher salaries, and thus increased payroll costs. . Up the Ante .

Policies 331
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What Is The Impact Of Hybrid Working On Space Optimization?

Allwork

Real estate costs can be reduced by downsizing the amount of space needed and allowing for flexible desk booking policies. After all, commercial real estate is, on average, the second-highest expense for most businesses, only surpassed by payroll. Working policies. Part of the answer lies in your working policies. .

Policies 298
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Benefits of outsourcing HR for small businesses

BMT Office Administration

Most small businesses focus on their product/service team and sales staff in the early years, but someone still needs to run payroll and handle onboarding for new hires. This includes things like payroll administration, employee benefits , HR compliance, and talent acquisition. How does HR Outsourcing work for small businesses?

Payroll 52
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Employee personnel files — what should and shouldn’t be included

BMT Office Administration

Health insurance forms. Note that employers who are required to encourage applicants and employees to self-identify as an individual with a disability under Section 503 of the Rehabilitation Act must keep these self-identification forms separate from all other records, including other medical records. Pay authorization forms.

Filing 121
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Is it ever ethical to disclose tax information, and to whom?

BMT Office Administration

Lawyers have a code of ethics running to booklet form and so do doctors (a one-pager) and accountants. The American Payroll Association’s code of ethics includes eight points, but let’s stick to three of them: To strive for perfect compliance, accuracy, and timeliness of all payroll activities. No, according to the IRS.

Payroll 59