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Stay on track with this payroll compliance checklist

BMT Office Administration

Payroll compliance is no small task. Everyone knows that executing payroll accurately and on time is important, after all everyone wants to get paid for their world. However, there is also a lot more that goes into proper payroll processing including a large number of compliance functions and concerns.

Payroll 52
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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. Remaining costs are written off using the appropriate depreciation schedule. Congress routinely showers small businesses with tax preferences.

Payroll 98
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IRS releases e-filing waiver guidance

BMT Office Administration

You may qualify for a hardship waiver if the cost of e-filing exceeds the cost of filing on paper. Since the bulk of the returns counted to determine whether you’re a mandatory e-filer are information and payroll returns, you need to take the lead and inform other departments of their new e-filing mandate.

Filing 52
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Time management tools to help you get ahead at work

BMT Office Administration

If you’re looking for a no-cost timekeeping option, Clockify is a great alternative to traditional time clocks or paid time and attendance software. If you use QuickBooks for payroll processing , the integration is convenient. It works well for individuals who want an application to manage their calendar and create to-do lists.

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

BMT Office Administration

1099 workers also are not generally paid through regular payroll and do not typically have taxes withheld from their checks or deposits. If you are paying someone through your normal employee payroll process with income tax withholdings, you typically need to send them a W-2. This can result in a lot of cost savings.

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

BMT Office Administration

The catch is that a business’s fiscal year does not have to line up with the traditional calendar year. However, to avoid confusion, most companies ensure that their fiscal year aligns with the current calendar year. Equity refers to the total value of a company’s assets minus the cost of its debts.

Finance 105
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What does it take to be a successful office manager?

Page Personnel

Office managers may also draft documents, help with payroll, keep an organised office environment and communicate via phone, email and fax (yes, some companies are still using fax machines). They are proficient use of all Microsoft tools and have great calendar management experience. Low-cost training courses are available online.