article thumbnail

Payroll update: Student loans, free tax filing, and more

BMT Office Administration

You should inform employees of this development. In addition to state tax agencies, the IRS sends information to a wide array of state social service agencies. And yes, some very prominent payroll questions are included. Just for reference, only 11.8% Just for reference, only 11.8% Don’t be overconfident.

Payroll 52
article thumbnail

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
Insiders

Sign Up for our Newsletter

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

article thumbnail

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

BMT Office Administration

These documents tend to be ones containing sensitive or confidential information. For instance, employers cannot include medical information in an employee’s general personnel file due to the Americans with Disabilities Act (ADA). Beneficiary information. Confidential files for records with information such as: Date of birth.

Filing 121
article thumbnail

IRS Whistleblower Office is hard at work, extra caution advised

BMT Office Administration

Recently, we discussed Payroll ethics and whether you’d break any ethical rules if you revealed someone’s tax information. The Whistleblower Office is authorized to pay monetary awards in proportion to the value of the information provided. And corporate audits often lead to payroll audits. In your own company?

Payroll 59
article thumbnail

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

BMT Office Administration

That’s not even mentioning all the paperwork involved in the onboarding process, such as employee handbooks , contact information, and direct deposit/banking information — just to name a few. These types of violations can cost your organization $75,000+ , so keeping confidential information separate is a must.

Filing 52
article thumbnail

5 SOP examples for your business

BMT Office Administration

New hire refers to any new employees beginning employment at the company. Conduct the HR orientation to orient the new employee with the timekeeping and payroll software , necessary paperwork, and internal resources. Example 5 – Payroll processing. Payroll refers to the payment process for all W2 employees.

Payroll 72
article thumbnail

The What, Who and How of Outsourcing… So You Can Let Go

Success

From the moment she opened Ditto Boutique, a luxury consignment store in Dallas, Jane DeNike outsourced the complex tasks of payroll and paying taxes to a bookkeeper and accountant. What about the confidentiality of your business information? Tax laws change. Ask about the contract before you see it: Is there a cancellation clause?

Elance 290