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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.

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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. IRC § 41 refundable research credit IRC § 41 allows you to claim a tax credit for qualified research expenses above a base amount.

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5 SOP examples for your business

BMT Office Administration

Conduct the HR orientation to orient the new employee with the timekeeping and payroll software , necessary paperwork, and internal resources. The finance department is responsible for approving high-value office supply purchases and reconciling expense purchases. Expense policy. Example 5 – Payroll processing.

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

BMT Office Administration

It can also help to look at whether the worker is reimbursed for expenses incurred while completing the work. Some expenses may be included on independent contractor invoices, but the basic tools or programs required to complete the work are often provided by the contractor. Type of Relationship. How to fill out a 1099 vs a W-2.

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