Remove 2020 Remove Calendars Remove Equipment Remove Retirement
article thumbnail

Business finance: The ultimate guide for non-finance people

BMT Office Administration

In particular, traditional business financing options like bank loans have been declining since 2020 — where they fell 6% from 2019 (43% to 37%, respectively). The catch is that a business’s fiscal year does not have to line up with the traditional calendar year. Why is that? What is a ROB? What’s that?

Finance 105
article thumbnail

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

BMT Office Administration

Does the business provide all necessary tools or equipment or does the worker provide their own tools? Employers must send Copy A of Form W-2 to the Social Security Administration (SSA) to report the wages paid and taxes collected for their employees during the previous calendar year. Form W-2 filing requirements. Prizes and awards.

Payroll 52