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Tax Planning for Freelancers: 5 Strategic Moves To Make Now To Avoid Tax Pain Next Year

Allwork

” In this form of business, the freelancer is personally responsible for all aspects of the business, including its debts and legal obligations. There is no legal distinction between the owner and the business. Firstly, it is the simplest and least expensive form of business to set up and maintain.

Legal 264
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Preparing to Move Overseas? Read This First

Success

Before you move, here’s what you need to know about everything from establishing residency abroad to health care, taxes, visas and costs. Health care. health insurance may not cover you. While many countries have free public health care provided by the government, don’t expect it to kick in for you as soon as you arrive.

Medical 264
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It’s time to review (or create) your document retention policy

BMT Office Administration

Legal consult proves especially helpful in matters involving the organization’s litigation hold policy. Their advice places a legal hold on physical and electronic records that should not be deleted because of potential future use. When constructing your policy, examine legal and regulatory guidelines.

Policies 105
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Employee Files: What to include, what to leave out, and what’s confidential

BMT Office Administration

Also, you’re legally obligated to retain these records for at least one year by the EEOC. Employee performance records While it’s essential to include performance records to monitor and analyze your employee’s productivity — there’s no legal obligation here. health insurance, dental, vision, etc.).

Filing 52
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Why Digital Nomads are Flocking to Mexico

Allwork

Holiday visas in Mexico can last up to 180 days, although some reports show that visas are not being granted for this long anymore. It’s unclear whether you’re legally allowed to work as a digital nomad in Mexico on a holiday visa. . Plus it can be quite expensive compared with other nearby places. . Los Amigos Coworking

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Stay organized and secure with electronic records management

BMT Office Administration

Jan bit her lip and hoped that Laura had not accidentally tossed evidence the legal department might need in a harassment lawsuit. Many serve as supporting evidence when the company files taxes or gives reports to other federal agencies. The second action opens up the company to potential legal and regulatory problems.

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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

A 1099 is a form used to report non- employee compensation. It can also help to look at whether the worker is reimbursed for expenses incurred while completing the work. Some expenses may be included on independent contractor invoices, but the basic tools or programs required to complete the work are often provided by the contractor.

Payroll 52