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

BMT Office Administration

Forms such as IRS Form W-2 and IRS Form 1099 need to be sent out by the end of January. Both forms provide end-of-year compensation information that employees and contractors need for tax purposes. A W-2 is a tax form that businesses send to their employees as well as the government. What is a W-2? What is a 1099?

Payroll 52
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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. In fact, ROBS is currently the most popular form of business financing in 2023. The catch is that a business’s fiscal year does not have to line up with the traditional calendar year. Why is that?

Finance 105