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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

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

BMT Office Administration

Employees need this document in order to file their personal income taxes each year. Does the business provide all necessary tools or equipment or does the worker provide their own tools? 1099 workers also are not generally paid through regular payroll and do not typically have taxes withheld from their checks or deposits.

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Standard Operating Procedures: Tips for Creating Business Systems | Office Organization & Office Efficiency | OfficeArrow

www.officearrow.com

Plus, well-documented business systems are a useful tool for training someone new or for meeting regulatory compliance. How will you document your procedures and what resources or tools are you going to use? Every job and procedure is documented. Step One: Start at the End. Step Three: Train Others to Use It.