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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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The What, Who and How of Outsourcing… So You Can Let Go

Success

When Harry Hecht, an Orlando, Florida-based mentor with SCORE—originally named the Service Corps of Retired Executives—encounters business owners who are reluctant to outsource, he has them track their time. “I based virtual assistant is $10 to $20; an overseas assistant will probably cost less. Tax laws change.

Elance 290
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Business finance: The ultimate guide for non-finance people

BMT Office Administration

So whenever you hear someone talk about their fiscal year, they’re referring to the 12-month period they use for accounting and taxes. Equity (net worth) What does it mean when someone refers to their business’s equity? Equity refers to the total value of a company’s assets minus the cost of its debts. What is a ROB?

Finance 105
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Ensuring payroll compliance in 2024: What’s new?

BMT Office Administration

Maintaining payroll compliance is a must for accounting departments, but it’s often easier said than done. That’s especially true whenever new changes come about, and 2023 was a year rife with new payroll regulations, trends, and initiatives. From the implementation of SECURE 2.0 From the implementation of SECURE 2.0

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

BMT Office Administration

Usually, when you hear about 1099s during tax season, people are referring to IRS form 1099-NEC, the tax form that is sent to independent contractors in place of a W-2 form. 1099 workers also are not generally paid through regular payroll and do not typically have taxes withheld from their checks or deposits. What is a 1099?

Payroll 52