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They manage schedules, handle emails, organize files, and take care of various administrative duties. A remote executive assistant adept in bookkeeping handles invoicing, expense tracking, payroll, and other financial tasks, maintaining the business's financial health.
As many of these young workers may be taking on their first job, employers must remember some important payroll considerations. First-Job Jitters It’s natural for employers and young employees to experience some jitters regarding payroll. A clear understanding of the basics can help alleviate those concerns.
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. You can also fax e-filing waiver requests to 877-477-0575.
Final regulations implement the Taxpayer First Act by requiring you to e-file all your information returns—your W-2s, 1099s, 1095s, and other information returns—if you’re filing a combined total of at least 10 returns, beginning with returns filed next year. This is a new standard. Updates will be available in the same way.
Payroll compliance is no small task. Everyone knows that executing payroll accurately and on time is important, after all everyone wants to get paid for their world. However, there is also a lot more that goes into proper payroll processing including a large number of compliance functions and concerns.
And now is the time to think about them, since the tax-filing deadlines for calendar-year corporate returns are fast approaching—March 15 for S corps and April 18 for C corps. For certain small businesses, however, the credit is effectively refundable , depending on the size of their payroll. For tax years beginning after Dec.
Instead of filing the PDF on the network, the document was printed and placed in a filing cabinet , where it will sit until doomsday. Keeping your desk and files clutter–free in a paper–filled environment isn’t easy, but a little planning and a little technology can help. File it in a Reminder file or in your file cabinet.
Instead of filing the PDF on the network, the document was printed and placed in a filing cabinet , where it will sit until doomsday or at least until someone cleans out those files. Despite improvements in document handling technology, despite the convenience of PDF files, we still produce a lot of paper. DELAY IT.
We’ve been waiting for the IRS to release final regulations on mandatory e-filing of information returns for quite some time. 31 e-filing deadline, we made an educated guess and said it wouldn’t make the same mistake again. Options for small employers: Small employers may never have thought about e-filing.
The IRS has kept its promise to provide relief to employers that filed Forms 941-X to claim the pandemic-era employee retention credit for which they aren’t eligible. Big break: The IRS will treat withdrawn claims as if they were never filed, so no penalties or interest will be levied. for a particular calendar quarter).
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.
And anything stored on your hard drive can be retrieved from backup files (I use Carbonite for those who are interested). It’s so easy to say, “I’m just gonna jump into my calendar really quick and update a few things,” and the next thing you know, you’re watching cat videos on YouTube. Electronic Calendar. More clicking.
For example, answering phones, taking messages, purchasing office equipment, working with relevant software and filing paperwork. 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).
Occasionally, EAs are tasked with scheduling performance reviews or even jobs related to payroll. EAs can manage a calendar of development activities and make sure that the executive director meets key dates (such as grant deadlines). They can set up key tasks for compliance and include them on the calendar where needed.
Once you cross calendar years, you can’t correct income tax withholding. You must now go through the employee consent process, which requires you to make two attempts at securing employees’ consent to obtain their FICA overpayments before you can file Form 941-X to obtain a refund of your own FICA overpayment.
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?
ADMIN Data entry Set up online questionnaires and feedback surveys Proofreading and editing Calendar/diary management Email/inbox management Customer service Set up email templates for customer service enquiries Create document template Travel arrangements Organise gifts for clients and or staff members Research Create PowerPoint Presentations Set (..)
The IRS’ errors fall into two categories: Substantive errors: The IRS has determined you didn’t qualify for the ERC for the calendar quarters listed. If you don’t sue and Appeals ultimately concludes your claim was correct, you won’t receive a refund or credit if Appeals reaches its decision after the two-year period for filing suit expires.
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