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4 important payroll issues to keep an eye on in 2023

BMT Office Administration

Nevertheless, 2023 is looking like another challenging year for Payroll as we get a few insights into what to expect. The IRS punted on its final regulations , dropping the mandatory e-filing threshold for information returns for 2021 and 2022 W-2s, 1099s, and 1095s. Here are five items we see coming this year. Final e-filing regs.

Payroll 52
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Top 3 Global Coworking Hotspots

Allwork

Granted, wholly remote work has slightly decreased, but according to Gallup research, hybrid work increased throughout 2022 and is expected to continue increasing moving forward. Changing work culture The days of working in an office with a single manager and no real open line of communication except iffy HR departments are over.

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What Is The Impact Of Hybrid Working On Space Optimization?

Allwork

This shift has many benefits, but it also leaves facility managers, CFOs, and business owners wondering what will happen with their office real estate. While this shift has many benefits, it also leaves facility managers, CFOs, and business owners with a dangling question: what will happen with our office real estate?

Policies 295
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Small business tax credits and deductions you should know about

BMT Office Administration

IRC § 41 refundable research credit IRC § 41 allows you to claim a tax credit for qualified research expenses above a base amount. For certain small businesses, however, the credit is effectively refundable , depending on the size of their payroll. Deductions exceeding your income may be carried forward for up to 20 years.

Payroll 98
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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

It can also help to look at whether the worker is reimbursed for expenses incurred while completing the work. Some expenses may be included on independent contractor invoices, but the basic tools or programs required to complete the work are often provided by the contractor. Booth copies must be sent out by January 31. Medicare wages.

Payroll 52
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W-2 E-filing guide: Brush up before you file

BMT Office Administration

However, mistakes can be expensive and draw unwanted attention from the IRS. Click on the radio button W-2/W-3 forms for tax year 2022 or previous tax years (EFW2). The post W-2 E-filing guide: Brush up before you file appeared first on Business Management Daily. Most employers are probably familiar with the e-filing process.

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