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Small business tax credits and deductions you should know about

BMT Office Administration

Unused credits may be carried back one year and forward for up to 20 years. IRC § 179 deduction for depreciable business assets Normally, when you buy a piece of office equipment, you must depreciate it over the number of years of its useful life. For 2023, you can deduct up to $1.16 In 2023, this amount is $2.89

Payroll 98
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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. Does the business provide all necessary tools or equipment or does the worker provide their own tools? It is the end of the year, and that means that tax season is approaching.

Payroll 52
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What does it take to be a successful office manager?

Page Personnel

simonewu 24/01/2023 Office managers are responsible for making sure everything runs smoothly in the office. Time management skills A person who doesn't manage their time properly will be overwhelmed by the amount of work that piles up. He or she must oversee finances, payroll, and other administrative tasks.

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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 catch is that a business’s fiscal year does not have to line up with the traditional calendar year. While this may seem complicated at first glance, it becomes easier to grasp when you understand a few key concepts about financial management.

Finance 105
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How to handle remote employee time tracking

BMT Office Administration

After the COVID-19 pandemic, that number jumped up to 13% and only continued to rise. Now in 2023, it’s projected that 25% of the workforce will engage in remote work in one form or another. In particular, higher-ups need a reliable way to monitor the productivity & work hours of their remote workers. Frees up office space.

Payroll 52