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MAY 5, 2023

What’s going on: In April 2023, the United States experienced better-than-expected job growth, with 253,000 nonfarm payrolls added to the economy, according to CNBC. This number exceeded the predictions made by Wall Street, which had estimated that only 180,000 jobs would be created.

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MARCH 3, 2025

British factories cut staff at the fastest pace in nearly five years last month as the government’s payroll tax increase began to push up their costs and demand at home and abroad was weak, a survey showed on Monday. In turn, manufacturers increased their selling prices by the most since April 2023, S&P Global said.

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Success

JUNE 19, 2023

According to the 2022-2023 Aflac WorkForces Report , 59% of American workers are reporting moderate or higher levels of burnout. She says her employees’ VAs were essential over holiday break to “hit the ground running in 2023.” This article originally appeared in the July/August 2023 issue of SUCCESS magazine.

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JANUARY 27, 2023

And their demands are being met: As of November 1 of last year, a law in New York City began requiring employers with four or more people on the payroll (where at least one of them works in the city) to provide a salary pay range in all job advertisements.

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FEBRUARY 6, 2024

By authenticity, I’m talking about unfiltered, open, and honest communication about solving problems that kept them up at night — like meeting payroll, finding investors, growing sales, dealing with production issues, maximizing AI, and managing conflicts.

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Success

SEPTEMBER 26, 2023

They went on to own many trucks and had 45 employees on their payroll before selling the company for seven figures in 2017, always knowing that venture was the seeding ground for something much bigger. This article originally appeared in the September/October 2023 issue of SUCCESS magazine. Photo courtesy of Anderson Group PR.

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APRIL 17, 2023

During the 2023 WSJ Job Summit , top HR chiefs sat down and tackled the role of modern CHROs in addressing employee mental health in the workplace. Essentially, the traditional CHRO was reactive. In an asynchronous workforce , keeping up with the various time zones and employee schedules is difficult.

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Success

JULY 18, 2023

You might be familiar with 401(k) plans and automatic payroll deductions at a traditional employer. Under the nonelective clause, even if an eligible employee doesn’t contribute to the SIMPLE IRA, the employer must still contribute a percentage based on the annual salary cap of $330,000 in 2023.

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OCTOBER 3, 2024

higher than through the first nine months of 2023, exceeding the prior year’s running total for the first time this year. ” The technology sector led the September total with 11,430 announced job cuts, though the industry has seen 23% fewer reductions so far this year than in 2023.

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OCTOBER 6, 2023

job market experienced growth in September 2023, defying expectations amidst rising interest rates and political challenges. Bureau of Labor Statistics , nonfarm payrolls surged by 336,000 — significantly surpassing the Dow Jones estimate of 170,000. This growth is the most substantial since January and shows the resilience of the U.S.

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SEPTEMBER 5, 2024

CNBC reports that the drop in job openings represents a decline of 237,000 positions from June’s revised figures. Layoffs have also risen, reaching 1.762 million — the highest since March 2023. year-over-year.

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BMT Office Administration

JANUARY 11, 2023

Nevertheless, 2023 is looking like another challenging year for Payroll as we get a few insights into what to expect. The post 4 important payroll issues to keep an eye on in 2023 appeared first on Business Management Daily. We wish we had a crystal ball, but we don’t. Here are five items we see coming this year.

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BMT Office Administration

MAY 9, 2024

Maintaining payroll compliance is a must for accounting departments, but it’s often easier said than done. That’s especially true whenever new changes come about, and 2023 was a year rife with new payroll regulations, trends, and initiatives. From the implementation of SECURE 2.0

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NOVEMBER 8, 2022

As of November 1, a law in New York City now requires employers with four or more people on the payroll to provide a salary pay range in all job advertisements. . Starting January 1, 2023, a similar law will go into effect in California for employers with at least 15 employees.

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BMT Office Administration

SEPTEMBER 1, 2023

This is good news for Payroll, which can postpone tracking employees’ salaries and reworking the payroll software ; Benefits, which is probably in the process of making conforming amendments to the 401(k) plan; and employees, who can continue to make catch-up contributions on a pretax basis. The post IRS guidance addresses SECURE 2.0’s

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Success

MARCH 9, 2023

That feeling of how are you going to make payroll? This article originally appeared in the March/April 2023 issue of SUCCESS magazine. Scott credits much of the brand’s success to her great team and the lessons she learned after her first company closed prematurely. How are you going to pay your rent?…

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BMT Office Administration

MARCH 3, 2023

For 2023, you can deduct up to $1.16 million of the cost of qualified property—machinery, equipment, standardized computer software, and improvements to nonresidential buildings—placed into service in 2023. In 2023, this amount is $2.89 IRC § 179 puts money in your pocket by letting you take a full tax deduction instead.

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BMT Office Administration

JUNE 16, 2022

There were at least 11 on-demand pay vendors at the American Payroll Association’s Annual Congress last month, not including the national third-party payroll providers. Nothing wrong with vendors highlighting their products at a convention of Payroll professionals. What is the additional burden on the Payroll department?

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BMT Office Administration

JUNE 3, 2023

Section 271 of the Fiscal Responsibility Acts of 2023 ( H.R. And yes, some very prominent payroll questions are included. The post Payroll update: Student loans, free tax filing, and more appeared first on Business Management Daily. The latest pause is scheduled to end July 31, with collections recommencing Sept.

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BMT Office Administration

OCTOBER 6, 2022

However, Payroll teams are busy preparing for a different season — year-end reporting. Even though time is ticking down, it would be prudent to act as if the IRS will issue these regs in time for 2023 filing. The post 5 things you should do now to prepare for year-end payroll reporting appeared first on Business Management Daily.

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BMT Office Administration

SEPTEMBER 30, 2022

Regardless of the sales pitch, on-demand pay is a boondoggle for Payroll. Every vendor will tell you why their on-demand pay program is worry-free for Payroll—it’s OK because employers are cut out of the process, or it’s OK because employers are part of the process. Right now, these provisions are in limbo.

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BMT Office Administration

NOVEMBER 16, 2022

While individuals have until April 18, 2023, to file their personal income taxes, businesses have to start thinking about tax requirements a bit sooner. 1099 workers also are not generally paid through regular payroll and do not typically have taxes withheld from their checks or deposits. Booth copies must be sent out by January 31.

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BMT Office Administration

AUGUST 18, 2023

Since the bulk of the returns counted to determine whether you’re a mandatory e-filer are information and payroll returns, you need to take the lead and inform other departments of their new e-filing mandate. The TFA also includes a knock-on provision, which requires you to e-file other returns.

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Bonnie Low-Kramen

JANUARY 10, 2024

By Bonnie Low-Kramen for Admin Professional Today | November, 2023 The Great Resignation of 2020 led to massive and chaotic hiring in 2021. Quiet Hiring is about filling open positions with the staff who are already on the payroll rather than hiring from outside the company. What’s happening now? Quiet Hiring.

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BMT Office Administration

JUNE 26, 2023

In fact, ROBS is currently the most popular form of business financing in 2023. Businesses have to incur lots of expenditures just to operate, including payroll , acquiring assets like vehicles & real estate, and day-to-day expenses (like a restaurant maintaining their inventory of condiments, food ingredients, and beverages).

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Page Personnel

JULY 20, 2022

simonewu 24/01/2023 Human resources (HR) functions are evolving quickly. In addition, the HR assistant will provide assistance to senior members of the team in a range of areas, including recruitment, training, performance management, employee orientation, payroll administration, employee welfare and health and safety.

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Page Personnel

AUGUST 26, 2022

simonewu 24/01/2023 Office managers are responsible for making sure everything runs smoothly in the office. Office managers may also draft documents, help with payroll, keep an organised office environment and communicate via phone, email and fax (yes, some companies are still using fax machines).

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BMT Office Administration

JANUARY 31, 2023

Now in 2023, it’s projected that 25% of the workforce will engage in remote work in one form or another. While time clock software offers no way to track progress on individual tasks, it does provide an organized way to track your team’s billable hours for payroll purposes. #5: Prior to 2020, only 6% of all employees worked remotely.

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BMT Office Administration

APRIL 7, 2022

The Taxpayer Advocate Services’ (TAS) solution is to issue a Taxpayer Advocate Directive giving the IRS 45 days to work with the tax software industry to develop a plan to implement 2-D barcodes on self-prepared 1040s for the 2023 filing season. Does the TAS have this power? A section of the Internal Revenue Manual (i.e.,

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BMT Office Administration

DECEMBER 6, 2023

Since a waiver is for the current year’s filings only, be sure to enter 2023 on Line 1a. You must file this form 45 days before your W-2s are due to the SSA—Monday, Dec. The IRS will begin processing forms on Jan. First-time e-filers need not justify their reasons for seeking a waiver. They only need to complete Line 8 and sign the form.

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NOVEMBER 14, 2024

Nonfarm payrolls increased by a mere 12,000 jobs in October, the fewest in nearly four years. It hiked rates by 525 basis points in 2022 and 2023 to tame inflation. The Fed initiated its policy easing cycle with an unusually large half-percentage-point rate cut in September, the first reduction in borrowing costs since 2020.

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JANUARY 6, 2025

in November, its lowest since October 2023. “Nearly one-in-four survey respondents saw an overall decline in their payroll numbers. The final headline U.K. S&P Composite Purchasing Managers’ Index (PMI) inched down to 50.4 A preliminary reading for December had also been 50.5.

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OCTOBER 17, 2024

The claims report covered the week during which the government surveyed employers for the nonfarm payrolls component of October’s employment report. Nonfarm payrolls increased by the most in six months in September, with the unemployment rate falling to 4.1% The report will be released days before the Nov. presidential election.

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OCTOBER 29, 2024

Nonfarm payrolls probably increased by 115,000 jobs after rising 254,000 in September, a Reuters survey of economists showed. It hiked rates by 525 basis points in 2022 and 2023 to curb inflation. Layoffs rose 165,000 to 1.833 million. That would be the smallest count in six months. The unemployment rate is forecast unchanged at 4.1%.

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OCTOBER 16, 2024

This is consistent with 2023’s result of 87% and up from 68% in 2022. Wellbeing is equally important to salary for 88% of global employees, slightly down from 93% in 2023 and up from 83% in 2022. 89% of employees say they will only consider companies that prioritize employee wellbeing when seeking new employment. .”

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DECEMBER 4, 2024

percentage points in 2022 and 2023. Layoffs decreased by 169,000 in October, the largest drop since April 2023, to 1.633 million. Quits surged by 228,000, the most since May 2023, to 3.326 million. Nonetheless, employers are not cutting their workforces on a large scale. But layoffs increased by 60,000 in the retail sector.

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FEBRUARY 13, 2025

percentage points in 2022 and 2023 to tame inflation. Nonfarm payrolls increased by 143,000 jobs in January, while the unemployment rate was at 4.0%. The policy rate was hiked by 5.25

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