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4 important payroll issues to keep an eye on in 2023

BMT Office Administration

Nevertheless, 2023 is looking like another challenging year for Payroll as we get a few insights into what to expect. You don’t have to perform the equivalent of hunting around the sofa cushions for spare change if you furnish per diem allowances—flat daily allowances covering hotel, meal, and incidental expenses—to employees who travel.

Payroll 52
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Employee Files: What to include, what to leave out, and what’s confidential

BMT Office Administration

Besides that, your confidential medical records will let you know if any team members have disabilities that you need to consider when planning and assigning tasks. Confidential documents include medical files, tax documents, employee benefits , payroll records, and more. Instead, you need to keep them in a separate database.

Filing 52
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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. Medical and health care payments. Prizes and awards.

Payroll 52
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Counting the costs: What government funding for scientific research will cover?

The Small Business Blog

And if you’re working in scientific, technological, medical or engineering research, the government can end up giving you quite a lot of money, through a scheme called research and development tax credits. It can also include the proportion of supervisors’ and managers’ time spent overseeing work on the project.

Agencies 120
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It’s time to review (or create) your document retention policy

BMT Office Administration

As a starting point, consider what these organizations say about some major types of records to keep and for what length of time: Per the Internal Revenue Service : The length of time you should keep a document depends on the action, expense, or event which the document records. Per the U.S. Department of Labor. See website for specifics.)

Policies 105
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Stay organized and secure with electronic records management

BMT Office Administration

Requirements may prove surprising, such as certain employee medical records that OSHA wants retained for 30 years. provides small businesses and the self-employed with guidance about recordkeeping of supporting business documents such as gross receipts, purchases, expenses, and assets. Payroll information. OSHA forms.

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Should City Governments and other Businesses look to Virtual Services to Save Money?

Tips From T. Marie

But, he said, the city could use the payroll savings. Even the medical field , infamous for paperwork, is transitioning to electronic files. Many in-office employees are even willing to take a small reduction in pay due to the fact that they are saving money on transportation, work attire and other related expenses.