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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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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. What is a ROB? What’s that?

Finance 105
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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