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

Allwork

While the dust from the 2023 tax filing season has long since settled, if you are a freelance worker, independent contractor , or digital nomad, now isn’t the time to forget about your taxes. According to the Internal Revenue Service (IRS), “a sole proprietor is someone who owns an unincorporated business by himself or herself.”

Legal 264
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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?

Filing 52
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Stay organized and secure with electronic records management

BMT Office Administration

Like many other workplaces, Laura’s office could benefit considerably from implementing electronic records management (ERM). Such a management system utilizes information technology to organize and store records in electronic form. A properly maintained electronic records management system serves as an efficient one-stop-shop.

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Leveraging Procedures for Effective Training and Onboarding

All Things Admin

You might be using a new phone system or dealing with new project management software. Tools of the Trade Familiarize them with the essential programs and platforms used by the company (project management, file management, internal communications, virtual meeting platforms, etc.),

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Benefits of outsourcing HR for small businesses

BMT Office Administration

HR administration is an essential component of running a small business, but it’s often one of the most challenging to manage in the early stages of small business or start-up operations. With human resources outsourcing, small businesses can get help from an external party in managing their HR activities.

Payroll 52
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Sorting out taxes and reporting for a deceased employee

BMT Office Administration

health, dental, vision, retirement) and involuntary deductions, like garnishments. Internal Revenue Code § 132 excludes de minimis fringe benefits from taxation. For the year the employee died, you file W-2 and 1099-MISC forms. To file the 1099-MISC, you must have the payee’s Taxpayer Identification Number.

Payroll 52
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Dealing with Workplace PMS - Poor Management System

The Office Professionals Place

Poor Management System Do you feel as though your company does not value you as an employee? Does it seem like management does not support its employees by not offering incentives for growth and professional development? Showing resistance or negativity will make your job harder and ultimately upper management will see it.