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Employee personnel files — what should and shouldn’t be included

BMT Office Administration

Knowing what to keep and the location of each document is vital to easy retrieval and to maintaining compliance with government and industry regulations. Setting up employee personnel files is an important part of the recordkeeping process. Rather, understand that general personnel files serve a distinct purpose. Cover letter.

Filing 121
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Do I Need an Estate Plan?

Success

Understanding why you’re creating one and the documents you must include for your situation can make the process easier. Having a will and other estate planning documents are the best way to ensure that the people you want to inherit your money, investments and property actually do. I’m not rich; do I really need an estate plan?

Medical 246
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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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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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Do I Need to Buy Life Insurance?

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In addition to the length and amount of the policy affecting the cost, finalizing a life insurance quote may require a medical exam before the policy can be underwritten and implemented. The premium is generally calculated based on the age, gender and health of the person purchasing the policy, among other factors.

Policies 264
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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. Many serve as supporting evidence when the company files taxes or gives reports to other federal agencies.

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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