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It’s time to review (or create) your document retention policy

BMT Office Administration

Worried that your company might not have a particular document on hand if the IRS conducted an audit? They create a document retention policy that clarifies what needs to be saved, where, and for how long. Courts and government agencies frown upon individual employees selectively keeping or tossing important documents.

Policies 105
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Tax Planning for Freelancers: 5 Strategic Moves To Make Now To Avoid Tax Pain Next Year

Allwork

” In this form of business, the freelancer is personally responsible for all aspects of the business, including its debts and legal obligations. There is no legal distinction between the owner and the business. Firstly, it is the simplest and least expensive form of business to set up and maintain.

Legal 261
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5 Long-Term Financial Goals and How to Achieve Them

Success

Your long-term goals are an important aspect of your financial health. Opening a college savings fund for your child when they’re young can help you save for their future college expenses. However, most people get started by creating estate planning documents like a will and taking out life insurance policies.

Goals 234
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Employee Files: What to include, what to leave out, and what’s confidential

BMT Office Administration

While it’s clear that you need to keep a separate file for each employee, which documents should you include in it? After all, there are some documents that you’ll need to keep confidential , and there are some that you don’t even need to include in your personnel files.

Filing 52
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Stay organized and secure with electronic records management

BMT Office Administration

He put Laura in charge of going through a bunch of drawers with instructions to make folders to organize papers of current worth, box up other documents that somebody might need down the line, and toss insignificant and old material. Fires, floods, and even spilled cups of coffee can render physical copies of documents unreadable.

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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. It can also help to look at whether the worker is reimbursed for expenses incurred while completing the work. Here you will include the recipient’s full legal name or registered business name and their address. Medical and health care payments.

Payroll 52
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Did You Know Paper and Other Things in Your Office Hold Emotion?

Stephanie LH Calahan

Let Go of These Excuses "It was expensive and I can't stand to see it go to waste." Maintaining excellent health? A lot of folks are afraid to ever throw document away because they might need it again someday. Can I find a more current document? - What would you need it for? Is it easily replaceable?

Gifts 100