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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

Examples of nonemployees are contract workers, freelancers, or sole proprietors that you have done business with. Does the business provide all necessary tools or equipment or does the worker provide their own tools? Employers also need to report and deposit payroll taxes to the internal revenue service (IRS) every quarter.

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

www.officearrow.com

Thats especially important for tasks that you handle less frequently - quarterly or annually, for example - or for when youve just come back from a long absence or vacation. They ensure consistency of work results by creating a step-by-step process (a road map, if you will) of your responsibilities so that you are more productive.