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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. . ” .

Filing 328
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Downsize and Organize Your Digital Clutter

Office Dynamics

If you’ve ever spent a morning trying to track down a lost file on your hard drive or searching through a decade of email, you know that digital disorder can also take a toll on your wellbeing. Do you usually rely on your search box to help you find files? Develop Naming Guidelines. Back up Important Files. Duplicates.

Filing 190
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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. For further assistance in thinking about which records to keep and for how long, see Business Management Daily’s Record Retention Schedule Guidelines for Every Office Document.

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. 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
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Stay organized and secure with electronic records management

BMT Office Administration

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. Their retention and deletion follow guidelines adhered to by everyone at the company. Access from outside the building.

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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. This reduces the risk of a document or file getting lost or damaged.

Payroll 52
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The Do’s And Don’ts Of Digital Document Management Systems (DMS)

Small Business CEO

If important files, such as client proposals, technical notes or legal NDAs for example, generated on laptops or Tablets belonging to outreach personnel are not backed up, then you could end up losing precious data if they are lost, stolen or tampered with. Image and video files, as an example, can be heavy on storage.