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Small business tax credits and deductions you should know about

BMT Office Administration

IRC § 179 deduction for depreciable business assets Normally, when you buy a piece of office equipment, you must depreciate it over the number of years of its useful life. For 2023, you can deduct up to $1.16 For 2023, you can deduct up to $1.16 In 2023, this amount is $2.89 Your taxable income.

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

BMT Office Administration

While individuals have until April 18, 2023, to file their personal income taxes, businesses have to start thinking about tax requirements a bit sooner. Does the business provide all necessary tools or equipment or does the worker provide their own tools? It is the end of the year, and that means that tax season is approaching.

Payroll 52
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What does it take to be a successful office manager?

Page Personnel

simonewu 24/01/2023 Office managers are responsible for making sure everything runs smoothly in the office. For example, answering phones, taking messages, purchasing office equipment, working with relevant software and filing paperwork. He or she must oversee finances, payroll, and other administrative tasks.

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Business finance: The ultimate guide for non-finance people

BMT Office Administration

In fact, ROBS is currently the most popular form of business financing in 2023. A business can choose to liquidate (selling something to convert it into cash) physical business assets, such as real estate, equipment, computers, and vehicles — in order to pay off debts.

Finance 105
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How to handle remote employee time tracking

BMT Office Administration

Now in 2023, it’s projected that 25% of the workforce will engage in remote work in one form or another. Another reason to implement employee monitoring tools is to ensure that your employees aren’t using company equipment for personal use (think company phones, tablets, laptops, printers, etc.). Employee scheduling. GPS tracking.

Payroll 52