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SEP IRA: What You Need to Know About This Retirement Plan Option

Success

Finding the right retirement plan for your business can take time and effort. One retirement plan option available to business owners and self-employed individuals is the SEP IRA, or the Simplified Employee Pension plan. It allows you to save for retirement based on your earned income. What is a SEP retirement plan?

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Top Challenges Law Firms Face When Hiring Executive Assistants or Paralegals and How Agencies Can Help

C-Suite Assistants

According to the Association of Legal Administrators (ALA), half of all legal assistants are at least 45 years old, and 38% of law firms are expected to lose 20-40% of their support staff in the next five years due to retirement. Salary: Salary negotiations can be tricky for a legal firm that needs someone to start immediately.

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Do I Need to Buy Life Insurance?

Success

Permanent policies Whole life: According to the Insurance Information Institute, whole life is the most common type of permanent life insurance you can buy. To calculate how much insurance to buy, some experts recommend multiplying your salary by eight.

Policies 264
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Lawsuits, Lost Expertise And Bad Morale: The Steep Risks Of Ignoring Older Employees

Allwork

Age discrimination occurs when a manager or boss treats an applicant or employee less favorably due to their age, which applies to younger people with less experience as well as older people who are close to retirement age. They worry that their company may have no strategy or practice for any sort of planned retirement — because most don’t.

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IRS update: digital communication and payroll

BMT Office Administration

Mamo reviewed some initiatives, including IRIS , the IRS’ new simplified platform for filing 1099s. Information return filers filed about 300,000 to 400,000 1099s through IRIS this past winter. In July the IRS will roll out a bulk filing feature for IRIS. He also confirmed FIRE’s eventual retirement, in favor of IRIS.

Payroll 52
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Why an effective onboarding process is more important than you think

Page Personnel

The most innovative companies understand that building an effective onboarding programme is both an iterative and ongoing process, and extending this process beyond the first month further cements that strong employee experience — from hire to retire. What are the benefits of the onboarding process?

2023 52
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Stay on track with this payroll compliance checklist

BMT Office Administration

These are typically salaried employees, but employers must verify that each job role passes specific tests before the employee filling it may be classified as hourly. It asks for information such as the employee’s filing tax status, extra withholding preferences, and more. The following information must be provided.

Payroll 52