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8 Crucial Tax Filing Tips For Freelancers

Allwork

who earn freelance income face confusing tax guidelines and difficult requirements for filing your own taxes. . There are many tax breaks that freelancers may get, which can include costs related to: . Partial cost of a vehicle used for your business . Retirement contributions . An office in the home .

Filing 321
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Dry promotions: Definition, considerations, and guidelines for employers

BMT Office Administration

Quiet promotions are often a gradual form of dry promotion where the employee’s role keeps expanding to add new responsibilities, but a pay raise or title increase is not provided. The downsides of dry promotions Dry promotions may seem like a solid way to save money and better utilize your existing staff, but they usually come at a cost.

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Stay on track with this payroll compliance checklist

BMT Office Administration

The Fair Labor Standards Act ( FLSA ) provides clear guidelines on which employees may be classified as exempt vs. non-exempt. If you are unsure of how to classify someone for payment, refer to the Department of Labor’s guidelines on qualifying exemptions. Collect the required forms. Misclassifying an employee as exempt.

Payroll 52
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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

Forms such as IRS Form W-2 and IRS Form 1099 need to be sent out by the end of January. Both forms provide end-of-year compensation information that employees and contractors need for tax purposes. A W-2 is a tax form that businesses send to their employees as well as the government. What is a W-2? What is a 1099?

Payroll 52
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Free Blog Posts | Men With Pens

Men With Pens

Time to think about the retirement fund.&# “We get to retire? No one ever told me that…&# We both know there’s no retirement fund in what we do. It was free because it was idle; it wasn’t supposed to be the sort of business expertise that many companies would shell out good money for in the form of a consultant.

2009 40
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Which Person Would You Talk To?

Men With Pens

Here’s your retirement cheque, go build your house, put in a pool, and stay with your girlfriend for the rest of your life,&# then I would probably kill myself. was that Kevin seems to believe in what he does as a form of expression. As Kevin mentioned, it’s a form of control. Pay per view.

2009 40