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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.

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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

A 1099 is a form used to report non- employee compensation. 1099 workers also are not generally paid through regular payroll and do not typically have taxes withheld from their checks or deposits. If you are paying someone through your normal employee payroll process with income tax withholdings, you typically need to send them a W-2.

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Crypto’s creep into the workplace is creating concerns

BMT Office Administration

Cryptocurrencies aren’t legal tender. Neither you nor employees can evade withholding and reporting by paying in crypto. dollars) and reporting rules apply. State payday laws, on the other hand, do require employees to be paid in legal tender; they can’t be paid with script, tokens, or similar media.

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