Remove 2021 Remove Forms Remove Health Remove Payroll
article thumbnail

MBO Partners 10 Future of Work Predictions for 2021

Small Business Labs

Virtual corporations and related new forms of organizational structures have long been forecast to replace traditional corporate structures.   Last week MBO Partners released their annual future of work predictions for the coming year.     Obviously, this didn't happen - or at least hasn't happened yet. 

2021 199
article thumbnail

5 things you should do now to prepare for year-end payroll reporting

BMT Office Administration

However, Payroll teams are busy preparing for a different season — year-end reporting. The e-filing mandate applies to all information returns, including Forms 1099-DIV, which are often filed by Shareholder Services. Send independent contractors Form W-9 to capture their SSNs and addresses. With this in mind: 3.

Payroll 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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
article thumbnail

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. 1, 2021, complete Line 5a. Use consistent EINs.

2021 52
article thumbnail

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
article thumbnail

Celebrating New Talent: Emerging Entrepreneurs Shines a Light on Up-and-Coming Entrepreneurs

Success

And I think that’s good advice if you know you’re on the path you’re supposed to be on,” Kern Lima told SUCCESS in 2021. He told SUCCESS that, “in 20 years, he expects there will be dozens of what he calls ‘world-class, game-changing companies’ that were formed in the aftermath of 2020.” Is there something you see that others can’t?

UPS 246
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. In fact, ROBS is currently the most popular form of business financing in 2023. It also depends on the health of the economy, as banks are less willing to give out business loans during recessions. Why is that?

Finance 105