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

BMT Office Administration

When constructing your policy, examine legal and regulatory guidelines. 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. Always research rather than assume. Requirements may prove surprising. Per the U.S.

Policies 105
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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

Forms such as IRS Form W-2 and IRS Form 1099 need to be sent out by the end of January. Both forms provide end-of-year compensation information that employees and contractors need for tax purposes. A W-2 is a tax form that businesses send to their employees as well as the government. What is a W-2? What is a 1099?

Payroll 52
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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. Some types of business records, such as tax forms and legal documents, are relatively easy to spot. Requirements may prove surprising, such as certain employee medical records that OSHA wants retained for 30 years.

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Standard Operating Procedures: Tips for Creating Business Systems | Office Organization & Office Efficiency | OfficeArrow

www.officearrow.com

Checklists ensure that all steps or actions occur, not necessarily in a specific order (though that can be part of the process), but rather just that they are completed, while a template is an established pattern - form letters, resume designs - that you can use over and over to produce the same result.