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IRS releases new FAQs on Form W-2c

BMT Office Administration

The IRS has released a new round of FAQs in two fact sheets, both of which clarify the circumstances under which you must provide employees with Forms W-2c if you took the payroll credits for providing them with pandemic-related paid sick or family leave during 2020 and/or 2021. 31, 2021, for leave taken before Sept. 30, 2021.

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10 Ways Small Businesses Can Come Out Ahead In 2021

Small Business CEO

This can be in the form of minor restructurings, new customers, tax filing, and so much more. Read on to find out how small businesses can come out ahead in 2021. Your Sales Tax Filing. We can’t structure you here for the changes in 2021. photo credit: Artem Podrez / Pexels. This is important.

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Common mistakes made on Forms 1094-C and 1095-C — ACA reporting

BMT Office Administration

The IRS released Forms 1095-C and 1094-C for 2022 healthcare information reporting last week. These forms are required reporting under the Affordable Care Act for employers required to offer health insurance coverage. The instructions are still in draft form , however not much has changed from the 2021 reporting.

Forms 52
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Tax Planning for Freelancers: 5 Strategic Moves To Make Now To Avoid Tax Pain Next Year

Allwork

While the dust from the 2023 tax filing season has long since settled, if you are a freelance worker, independent contractor , or digital nomad, now isn’t the time to forget about your taxes. ” In this form of business, the freelancer is personally responsible for all aspects of the business, including its debts and legal obligations.

Legal 264
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Why You Should Start Your Own Business Today

Success

According to the Census Bureau , over 420,000 business applications were filed in May 2022 alone. in 2021, nearly 13 million more than the year prior. The major investment in most self-owned businesses is the investment of one’s self in the form of time, focus and persistence. 6 benefits of entrepreneurship.

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8 tips for completing your first-quarter 941

BMT Office Administration

Your first-quarter Form 941 is due Monday, May 2. So you have two more days to ensure your form is correct (yay!). Ensure the EIN you enter on the form exactly matches the EIN the IRS assigned to your business. You can’t use your Social Security number on Form 941. A valid EIN is required if you’re e-filing.

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The Perils Of Ignoring Sexual Harassment Training

Allwork

Currently, 36% of organizations do not provide any form of anti-harassment training, despite all the evidence that sexual harassment can seriously harm a company’s reputation (let alone the harm it causes to the victims). . As of 2021 , only 17 U.S. Sexual harassment at work can include bullying, coercion and unwanted physical contact.

Training 264