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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. Forms such as IRS Form W-2 and IRS Form 1099 need to be sent out by the end of January. A 1099 is a form used to report non- employee compensation. What is a W-2?

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

BMT Office Administration

Keep copies of your filed tax returns permanently. Never dispose of a current employee’s Form I-9; you must keep it for as long as the employee works for you, and for a certain amount of time after they stop working for you. Only when an employee stops working for you should you calculate how much longer you must keep their Form I-9.

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Stay organized and secure with electronic records management

BMT Office Administration

Such a management system utilizes information technology to organize and store records in electronic form. 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. OSHA forms.

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Registering your business – Start Up Guides – Part 5 | THE SMALL.

The Small Business Blog

Other Great Business Blogs Social Media for Business WinWeb Pitch of the Week – Martin Everard Benefits Of Building A Home Business Is There More Financial Hardship To Come? If you are operating through a limited company the form you use is CT41G. To register you need to complete form VAT1. You want the whole tree."

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Q & A: I'm a Sole-Trader, how can I do my Accounts DIY ( Do-It.

The Small Business Blog

Other Great Business Blogs Social Media for Business WinWeb Pitch of the Week – Martin Everard Benefits Of Building A Home Business Is There More Financial Hardship To Come? You want the whole tree." " 1 week ago Be a likeable person to be successful at being self employed or a freelancer. 1 week ago More updates.

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What legal entity is right for your business? | THE SMALL BUSINESS.

The Small Business Blog

Other Great Business Blogs Social Media for Business WinWeb Pitch of the Week – Martin Everard Benefits Of Building A Home Business Is There More Financial Hardship To Come? A limited company must also file annual tax returns (“corporation” tax returns) with the Inland Revenue just like an individual. You want the whole tree."

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Small Business Bootstrapping Techniques | THE SMALL BUSINESS BLOG

The Small Business Blog

Other Great Business Blogs Social Media for Business WinWeb Pitch of the Week – Martin Everard Benefits Of Building A Home Business Is There More Financial Hardship To Come? PAYweb Small Business Payroll Said on February 23rd, 2009 at 6:29 pm Great article, and very interesting comments. You want the whole tree."

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