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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. You can also fax e-filing waiver requests to 877-477-0575.

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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?

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W-2 E-filing guide: Brush up before you file

BMT Office Administration

Most employers are probably familiar with the e-filing process. However, mistakes can be expensive and draw unwanted attention from the IRS. With that in mind, even if you’ve e-filed your W-2s before, it’s still a good idea to review the process and ensure you’re following the right steps.

Filing 52
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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. What is a W-2?

Payroll 52
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12 Last-Minute Gift Ideas For Digital Nomads

Allwork

It also includes powerful analytics about performance, and tips on how to optimize reach and other rankings. . Another digital tool that almost every digital nomad needs is an accounting software package so they can track their income and expenses. . Accounting software subscription .

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Make Procedures Development a Habit, Not a Project

All Things Admin

Or you may have set days of the week where you do certain reports or perform routine tasks like expense reporting or payroll. Here are three quick tips from Davis’s book that can help you think differently about how to document your procedures. Even if you only have five minutes, just starting a procedure is better than nothing.

2024 52
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Income taxes explained in 7 simple concepts

BMT Office Administration

Employees file their W-4s and then forget about them. It includes wages, salaries and tips; interest and dividends; capital gains; and pensions and annuities. Examples : the credit for child and dependent care expenses. Each of the following income tax terms has an impact on employees’ withholding. Total (gross) income.

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