Remove Expenses Remove International Remove Payroll Remove Retirement
article thumbnail

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

BMT Office Administration

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. Booth copies must be sent out by January 31.

Payroll 52
article thumbnail

Navigating the IRS’ Interactive Tax Assistant

BMT Office Administration

Categories in the assistant include Filing Requirement, Form to Use, Due Date; Filing Status and Dependents; Retirement: Pensions, IRAs, Social Security; Other Income (e.g., scholarships); Deductions; Credits; International; and Additional Topics. It’s payroll -friendly, too! I stuck to the top—Do I Need to File a Tax Return?

Payroll 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Do You Know Your Lifestyle Ratios?

Stephanie LH Calahan

  Revenue, net income, total expenses, and payroll costs are just a few of the items that you may be monitoring on your profit and loss statement.  In the example below, this person is well on their way to retiring. Today I asked my friend Linda Siniscal talk about life beyond the profit and loss statement.

Lifestyle 100
article thumbnail

Income taxes explained in 7 simple concepts

BMT Office Administration

It’s all taxable income recognized by the Internal Revenue Code. Examples: employer contributions for health insurance and to retirement benefits. Examples : the credit for child and dependent care expenses. Total income is the broadest measure of income. Gross income doesn’t include income excluded from tax.

Filing 52