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4 important payroll issues to keep an eye on in 2023

BMT Office Administration

Nevertheless, 2023 is looking like another challenging year for Payroll as we get a few insights into what to expect. The IRS punted on its final regulations , dropping the mandatory e-filing threshold for information returns for 2021 and 2022 W-2s, 1099s, and 1095s. These regs will scoop up smaller employers into the e-filing net.

Payroll 52
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Navigating the IRS’ Interactive Tax Assistant

BMT Office Administration

Once I got the hang of loading the tax-prep software onto my almost-brand-new Windows 10 laptop and ran through sometimes deliberately vague set-up questions, I discovered several blatant errors. Probably, but I’m not owning up to it yet. It’s payroll -friendly, too! You’re first asked what your marital status was on Dec.

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. The beginner’s business finance glossary “Our P&L report shows that our revenue is now greatly exceeding our expenses, and we’re showing a considerable profit.” “In Why is that?

Finance 105
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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

It can also help to look at whether the worker is reimbursed for expenses incurred while completing the work. Some expenses may be included on independent contractor invoices, but the basic tools or programs required to complete the work are often provided by the contractor. Booth copies must be sent out by January 31.

Payroll 52
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The Blended Role of Executive Personal Assistants

C-Suite Assistants

In 2021, that number has skyrocketed to 40 percent! You don’t have to worry about their chores falling outside of their job description (for example, asking an executive assistant to shop for your spouse’s anniversary gift, or pick up their dry cleaning). This role is gaining in popularity. An EA/PA manages the executive’s entire life.

Payroll 74