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Sorting out taxes and reporting for a deceased employee

BMT Office Administration

While fortunately a rare circumstance, dealing with payroll for a recently deceased employee can be tricky. Hopefully this isn’t an issue that comes up for your payroll department often, but it’s important to know what to do, and get it right, in the event that it does happen. What pay is taxable?

Payroll 52
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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 From the implementation of SECURE 2.0

Payroll 52
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Want to Reach Your Potential? Be a Learner

Success

The same is increasingly true in many fields, whether you’re freelance or on the payroll. Weston couldn’t agree more. The granddaddy of how-to guides, Wiley’s For Dummies series, has published over 2,500 titles on topics ranging from hacking to carpentry to forensic psychology to running a food truck. Allen, Ph.D.,

Skills 284
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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

However, there is sometimes some confusion on which to send — and you don’t want to get it wrong. 1099 workers also are not generally paid through regular payroll and do not typically have taxes withheld from their checks or deposits. What is a W-2? Are the business aspects of the worker’s job controlled by the business?

Payroll 52
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Business finance: The ultimate guide for non-finance people

BMT Office Administration

Businesses have to incur lots of expenditures just to operate, including payroll , acquiring assets like vehicles & real estate, and day-to-day expenses (like a restaurant maintaining their inventory of condiments, food ingredients, and beverages). In fact, ROBS is currently the most popular form of business financing in 2023.

Finance 105
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Should City Governments and other Businesses look to Virtual Services to Save Money?

Tips From T. Marie

The article discussed how the City of Hickory, NC proposed offering early retirement to 84 of their employees. Reading the details of what would be offered in exchange for taking the early retirement deal didn’t really strike me as a wonderful option for those 84 people., especially in the current economy.