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5 Tips to Make Filing Taxes Easier for Freelancers in 2023

Success

With a traditional job, all you need to file your taxes is your W-2 tax form at the end of the year, showing what you made and how much you had withheld for federal and state taxes. With freelancing, you’ll likely have multiple clients, each sending you a 1099-NEC form (previously a 1099-MISC) showing what they paid you.

Filing 278
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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. A business can choose to liquidate (selling something to convert it into cash) physical business assets, such as real estate, equipment, computers, and vehicles — in order to pay off debts. What’s that?

Finance 105
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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. Forms such as IRS Form W-2 and IRS Form 1099 need to be sent out by the end of January. A 1099 is a form used to report non- employee compensation. What is a W-2?

Payroll 52
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The UK workplace sector reacts to the Spring Budget 2023

Workplace Insight

We need to equip the workforce with the new skills that the economy needs. 7 in 10 businesses that prioritise these ‘power skills’ alongside technical skills in their workforce experienced consistent project success in the past year, according to our Pulse of the Profession 2023 study.”

Budget 98
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Ensuring payroll compliance in 2024: What’s new?

BMT Office Administration

That’s especially true whenever new changes come about, and 2023 was a year rife with new payroll regulations, trends, and initiatives. It provides provisions aimed at improving employee retirement outcomes and makes starting 401(k) plans more attractive and beneficial for employers – even those with 50 or fewer employees.

Payroll 52