BMT Office Administration

JUNE 28, 2024

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.

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BMT Office Administration

NOVEMBER 21, 2022

As any human resources professional will attest, managing every employee’s employment life cycle involves a good deal of paperwork. Health insurance forms. Payroll records for money or pay-related information such as: Timesheets. Pay authorization forms. Payroll deduction forms. Emergency contacts.

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Filing Medical Payroll Forms 121

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 From the implementation of SECURE 2.0

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BMT Office Administration

JANUARY 2, 2025

Upshot: Unless a contractor is onsite and behaving in an incredibly obnoxious fashion, tell your managers to back off. Other considerations Contractors dont go on the payroll , and if you pay them at least $600 in cash, you must provide them with Form 1099-NEC and file the form with the IRS by Jan.

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BMT Office Administration

MAY 30, 2022

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.

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Payroll Forms Agencies Legal 52

BMT Office Administration

MARCH 9, 2022

The IRS has released a new round of FAQs in two fact sheets, both of which clarify the circumstances under which you must provide employees with Forms W-2c if you took the payroll credits for providing them with pandemic-related paid sick or family leave during 2020 and/or 2021. Fact sheet 2022-15. 30, 2021. We don’t have the answer.

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Success

MARCH 9, 2023

Payal Kadakia, founder of revolutionary fitness platform ClassPass , originally began her career at management consulting firm Bain & Company before she founded her own Indian dance company, Sa Dance Company , as a passion project on the side. That feeling of how are you going to make payroll? Success might feel intuitive.

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BMT Office Administration

APRIL 15, 2022

We admit we were thrown for a loop after reading the IRS’ latest fact sheets on reporting pandemic-related paid leave to employees on Form W-2c. 1, 2021, you need to issue a Form W-2c to correct employees’ 2020 or 2021 W-2s, even though you’re paying these wages in 2022. What Form 941 says. Welcome to the club.

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Forms Payroll 2021 2022 52

BMT Office Administration

MAY 25, 2023

It’s more challenging with business and payroll returns, because of the power of attorney; the IRS is beginning a POA initiative, he added. Zoom in for the payroll picture The IRS calls withholding voluntary, although your employees may beg to differ. Payroll is compliance-oriented; there’s very little wiggle room to be creative.

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BMT Office Administration

AUGUST 9, 2023

The IRS and the National Taxpayer Advocate have been going at each other hammer and tongs over the mountains of paper forms the agency still processes. Earlier this year, it kicked off a new scanning process for Form 940. The IRS’ paperless initiative takes this one step beyond scanning payroll returns.

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BMT Office Administration

OCTOBER 6, 2022

However, Payroll teams are busy preparing for a different season — year-end reporting. The e-filing mandate applies to all information returns, including Forms 1099-DIV, which are often filed by Shareholder Services. Send independent contractors Form W-9 to capture their SSNs and addresses. Test your systems for 2022 filing.

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Success

SEPTEMBER 27, 2024

If you start working as a freelancer without forming an LLC or corporation, you’re automatically considered a sole proprietor. There are some tax and liability advantages for LLCs and S corporations, but they also require more fees and business tax forms. There are many accounting software options available for freelancers.

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BMT Office Administration

MAY 9, 2022

SOPs are an excellent tool for small business owners looking to take their business process management to the next level. It’s the responsibility of the HR Manager to ensure that all onboarding paperwork is complete in accordance with all federal, state, and local laws and that new hire orientation is conducted. Direct Deposit Form.

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BMT Office Administration

JULY 28, 2022

Lawyers have a code of ethics running to booklet form and so do doctors (a one-pager) and accountants. The American Payroll Association’s code of ethics includes eight points, but let’s stick to three of them: To strive for perfect compliance, accuracy, and timeliness of all payroll activities. No, according to the IRS.

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The Small Business Blog

JULY 14, 2006

WinWeb – Your Office Online Simply the best way to manage your small business! HM Revenue & Customs ‘HMRC’ If you are self employed as a sole trader or partnership you will need to inform HMRC of this fact, this is done by completing form CWF1. To register you need to complete form VAT1.

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BMT Office Administration

AUGUST 8, 2022

When you can show a thoughtful, standardized records management procedure to a relevant third party such as a lawyer or auditor, it backs up your decisions. Input from senior management, human resources, and the record-keeping department is a must. Such action raises concern about cover-ups. Per the U.S. Department of Labor.

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BMT Office Administration

JULY 29, 2022

Recently, we discussed Payroll ethics and whether you’d break any ethical rules if you revealed someone’s tax information. You must complete Form 211. For payroll taxes , the operating division is the Small Business/Self-Employed, which probably not coincidentally, had the highest number of referrals in FY 2021. As of Sept.

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BMT Office Administration

OCTOBER 27, 2022

The IRS released Forms 1095-C and 1094-C for 2022 healthcare information reporting last week. These forms are required reporting under the Affordable Care Act for employers required to offer health insurance coverage. The instructions are still in draft form , however not much has changed from the 2021 reporting.

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Forms 2022 Filing Health 52

BMT Office Administration

OCTOBER 31, 2023

HR administration is an essential component of running a small business, but it’s often one of the most challenging to manage in the early stages of small business or start-up operations. With human resources outsourcing, small businesses can get help from an external party in managing their HR activities.

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BMT Office Administration

MAY 31, 2022

Like many other workplaces, Laura’s office could benefit considerably from implementing electronic records management (ERM). Such a management system utilizes information technology to organize and store records in electronic form. A properly maintained electronic records management system serves as an efficient one-stop-shop.

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BMT Office Administration

NOVEMBER 16, 2022

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?

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BMT Office Administration

MARCH 13, 2024

For these reasons, some managers are hailing geofence time clock apps as a gift from the HR gods. At the same time, geofencing technology renders most forms of time theft useless, which is a huge advantage. If your managers aren’t actively tracking their timesheets, there’s plenty of opportunity for time theft to take place.

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BMT Office Administration

JUNE 22, 2022

If your desk is still cluttered with paper files or documents, it’s probably time to consider switching to electronic records management (ERM). Software systems also tend to be more secure for sharing sensitive information including employee forms with SSNs and other private data. Preventing lost data. EDMS and ECM.

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BMT Office Administration

APRIL 22, 2024

It’s up to each department manager to review the timesheets their employees submit to ensure accuracy. Timesheet approval provides a way for managers to double-check their employee’s time punches to ensure there are no mistakes or missed punches. Examining timesheets will also let managers know if certain employees are underperforming.

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BMT Office Administration

JULY 3, 2023

If so, then you’ll definitely want to have the proper documents on-hand to defend your managers. Besides the EEOC, the IRS also has requirements for employee documents, including which forms you need to have for each employee, such as W-4s. Federal laws like ADA and FLSA (Fair Labor Standards Act) pertain to your confidential files.

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Small Business Labs

DECEMBER 16, 2014

  Cloud Automation tools are simplifying a wide range of traditional small business applications such as accounting, payroll, inventory management, HR and benefits administration, etc.  This is rapidly changing as growing numbers of firms successfully raise money via crowdfunding platforms.

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BMT Office Administration

AUGUST 18, 2023

These filers should notify the IRS that they qualify for a religious exemption in advance of filing returns and other documents by filing a Form 8508. After filing Form 8508, filers who qualify for a religious exemption should file returns and other documents on paper. 42-007 , Specifications for Filing Forms W-2 Electronically (EFW2).

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BMT Office Administration

OCTOBER 26, 2023

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. 14, the day the IRS imposed a moratorium on processing Forms 941-X on which the credit is claimed, but who haven’t yet received their ERCs.

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The Small Business Blog

OCTOBER 17, 2007

WinWeb – Your Office Online Simply the best way to manage your small business! The excel self assessment tax return is arranged in the same layout as the official inland revenue form with the same box numbers making it easy to copy the figures from one to the other for submission. External Links External Links SynergyOne.co.uk

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BMT Office Administration

DECEMBER 19, 2022

These documents include payroll records, time cards, pay rate information, and anything else related to payment. These types of documents include exit interview forms, final performance reviews , termination letters , and benefits information. You’re legally required to hold on to these forms, so don’t throw them out.

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Medical Payroll Filing Legal 52

BMT Office Administration

APRIL 27, 2022

Your first-quarter Form 941 is due Monday, May 2. So you have two more days to ensure your form is correct (yay!). Ensure the EIN you enter on the form exactly matches the EIN the IRS assigned to your business. You can’t use your Social Security number on Form 941. Mail or email your form on time.

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2021 Payroll Filing Forms 52

BMT Office Administration

MARCH 16, 2022

2021 Form 1040 tax filing stats so far. What’s up with Forms 941? million unprocessed Forms 941 and 360,000 unprocessed Forms 941-X, some of which it can’t process until the related 941s are processed. A portion of this backlog is due to pandemic-related payroll credits. For the week ending Feb. 25, 2022, (i.e.,

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BMT Office Administration

OCTOBER 20, 2023

Billie Crawford, an IRS project manager of development services at the IRS, hosted the second IRIS working group meeting last week. IRIS’ next phase will include forms in the 1097 and 1098 series, 5498 series, and Forms 3921 and 3922. You can upload only one file at a time, with 100 forms per file. helpmail@irs.gov.

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The Small Business Blog

JUNE 29, 2006

WinWeb – Your Office Online Simply the best way to manage your small business! A big advantage, and one which I think is why so many opt for this status, is that this is the easiest form of business to own and operate because it does not require any specific legal organization (once registered with the various government departments).

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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 that’s great news for employees who enjoy the increased flexibility of working from home, it poses a significant challenge for managers. You likely spend quite a bit of time monitoring & managing your employees.

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Catch Friday

MARCH 6, 2011

It would be costly to form your own finance team. Business outsourcing services have finance experts who will be able to help your business with tasks like accounting, payroll, bookkeeping, asset management, and tax accounting among many others. IT Support – IT is another non core task that is usually outsourced.

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BMT Office Administration

DECEMBER 6, 2023

You can print these forms and furnish them to employees. Downside: Keying in information on more than a handful of forms, let alone 50 forms, is a recipe for mistakes. You file Form 8508 with the IRS to request a waiver from e-filing the current year’s information returns (including 1099s).

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