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Sorting out taxes and reporting for a deceased employee

BMT Office Administration

While fortunately a rare circumstance, dealing with payroll for a recently deceased employee can be tricky. Hopefully this isn’t an issue that comes up for your payroll department often, but it’s important to know what to do, and get it right, in the event that it does happen. What pay is taxable?

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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. If you’re not quite sure about the differences between a 1099 and a W-2, keep reading to learn which form to send and how to fill out and file them. Form W-2 filing requirements.

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Income taxes explained in 7 simple concepts

BMT Office Administration

Employees file their W-4s and then forget about them. Examples: employer contributions for health insurance and to retirement benefits. Employees may opt out of withholding, but not their tax liability, by filing W-4s on which they write “Exempt” underneath Line 4(c). Gross income doesn’t include income excluded from tax.

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