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Small business tax credits and deductions you should know about

BMT Office Administration

And now is the time to think about them, since the tax-filing deadlines for calendar-year corporate returns are fast approaching—March 15 for S corps and April 18 for C corps. For 2023, you can deduct up to $1.16 In 2023, this amount is $2.89 Congress routinely showers small businesses with tax preferences. Your taxable income.

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Business finance: The ultimate guide for non-finance people

BMT Office Administration

In fact, ROBS is currently the most popular form of business financing in 2023. 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 If you have to pay back the loan for more than a year, it’s a long-term liability.

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Ensuring payroll compliance in 2024: What’s new?

BMT Office Administration

Maintaining payroll compliance is a must for accounting departments, but it’s often easier said than done. That’s especially true whenever new changes come about, and 2023 was a year rife with new payroll regulations, trends, and initiatives. From the implementation of SECURE 2.0

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

BMT Office Administration

While individuals have until April 18, 2023, to file their personal income taxes, businesses have to start thinking about tax requirements a bit sooner. It can also help to look at whether the worker is reimbursed for expenses incurred while completing the work. It is the end of the year, and that means that tax season is approaching.

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