Remove 2021 Remove Calendars Remove Equipment Remove Retirement
article thumbnail

Business finance: The ultimate guide for non-finance people

BMT Office Administration

That trend continued in 2021, with only 34% of small businesses applying for bank loans. The catch is that a business’s fiscal year does not have to line up with the traditional calendar year. However, to avoid confusion, most companies ensure that their fiscal year aligns with the current calendar year. Why is 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.

Payroll 52