article thumbnail

Employee personnel files — what should and shouldn’t be included

BMT Office Administration

Setting up employee personnel files is an important part of the recordkeeping process. However, sometimes people mistakenly think of these files as a catch-all for an individual’s paperwork. Rather, understand that general personnel files serve a distinct purpose. What to include in an employee’s personnel file.

Filing 121
article thumbnail

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. ” In this form of business, the freelancer is personally responsible for all aspects of the business, including its debts and legal obligations.

Legal 264
Insiders

Sign Up for our Newsletter

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

article thumbnail

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
article thumbnail

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
article thumbnail

Do I Need an Estate Plan?

Success

The other purpose of a will, and in some cases, a trust, is to designate guardianship of your minor children or other people you are legally responsible for. The executor you name will handle your bequests and filing pertinent information with the court. An estate plan will provide for young children.

Medical 206
article thumbnail

Employers Beware: There Are Rising Legal Risks Of Rigid RTO Policies

Allwork

The insistence of employers on a full return to the office, without considering individual circumstances, could lead to a surge in legal issues — particularly discrimination claims. Are employers walking into a legal storm by enforcing rigid return-to-office (RTO) mandates? In a lawsuit against Electric Boat Corp.,

Legal 299
article thumbnail

4 Smart Money Moves to Plan for Financial Security

Success

If you’ve taken any kind of personal finance course, you probably know about the importance of an emergency fund to your overall financial health. In 2021, that limit is $140,000 for individuals and $208,000 for married people who file their taxes jointly. You should consult your own tax, legal, and accounting advisors.