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Tax Planning for Freelancers: 5 Strategic Moves To Make Now To Avoid Tax Pain Next Year

Allwork

While the dust from the 2023 tax filing season has long since settled, if you are a freelance worker, independent contractor , or digital nomad, now isn’t the time to forget about your taxes. ” In this form of business, the freelancer is personally responsible for all aspects of the business, including its debts and legal obligations.

Legal 264
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Preparing to Move Overseas? Read This First

Success

Before you move, here’s what you need to know about everything from establishing residency abroad to health care, taxes, visas and costs. Health care. health insurance may not cover you. While many countries have free public health care provided by the government, don’t expect it to kick in for you as soon as you arrive.

Medical 265
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Employee Files: What to include, what to leave out, and what’s confidential

BMT Office Administration

While dealing with lots of paperwork doesn’t rank as most HR professionals’ favorite task, proper recordkeeping for employee personnel files is a must for any organization. In addition, if an employee is involuntarily let go, their employee file must be kept for one year following the termination date. Why is that?

Filing 52
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The Perils Of Ignoring Sexual Harassment Training

Allwork

Equal Employment Opportunity Commission (EEOC) defines workplace harassment as “unwelcome or offensive conduct that is detrimental to an employer’s work performance, professional advancement, and/or mental health.”. What does effective anti-harassment training look like?

Training 264
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4 Smart Money Moves to Plan for Financial Security

Success

If you’ve taken any kind of personal finance course, you probably know about the importance of an emergency fund to your overall financial health. In 2021, that limit is $140,000 for individuals and $208,000 for married people who file their taxes jointly. You should consult your own tax, legal, and accounting advisors.

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Benefits of outsourcing HR for small businesses

BMT Office Administration

HR service providers will have well-crafted, legally tested policy recommendations that can be customized for your business. Reducing HR costs While some of the more premium full-service HR outsourcing providers can get a bit pricey, outsourcing HR is typically cheaper than hiring an in-house team. With an in-house team.

Payroll 52
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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. If you’re not quite sure about the differences between a 1099 and a W-2, keep reading to learn which form to send and how to fill out and file them. Form W-2 filing requirements.

Payroll 52