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8 Crucial Tax Filing Tips For Freelancers

Allwork

who earn freelance income face confusing tax guidelines and difficult requirements for filing your own taxes. . It’s confusing and difficult, for most people, to know how you’re supposed to file your own taxes when freelance income has been earned from one-time jobs or contract work. . ” .

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

BMT Office Administration

When constructing your policy, examine legal and regulatory guidelines. Keep copies of your filed tax returns permanently. Never dispose of a current employee’s Form I-9; you must keep it for as long as the employee works for you, and for a certain amount of time after they stop working for you. Per the U.S. Department of Labor.

Policies 105
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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. Forms such as IRS Form W-2 and IRS Form 1099 need to be sent out by the end of January. A 1099 is a form used to report non- employee compensation. What is a W-2?

Payroll 52
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Stay organized and secure with electronic records management

BMT Office Administration

Such a management system utilizes information technology to organize and store records in electronic form. Many serve as supporting evidence when the company files taxes or gives reports to other federal agencies. Electronic files allow approved people to get what they need regardless of where they are at.

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Stay on track with this payroll compliance checklist

BMT Office Administration

The Fair Labor Standards Act ( FLSA ) provides clear guidelines on which employees may be classified as exempt vs. non-exempt. If you are unsure of how to classify someone for payment, refer to the Department of Labor’s guidelines on qualifying exemptions. Collect the required forms. Misclassifying an employee as exempt.

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Do you like what you do?

Laughing all the Way to Work

If you know what works best for you and if your job is 80/20 on what you like then you can put up with the small stuff like filing and filling out expense forms. Business Writing Guidelines for 2008 C or cc or copy? This is an important thing to know.

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Do Clients Need to Like You to Buy? | Men With Pens

Men With Pens

Listening to Experts is Expensive When new business owners believe faulty information they find on the web, it costs them a great deal. Over time, however, the business failed and the professor had to file for bankruptcy and lost his credibility. But trust comes in many forms, both short- and long term.

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