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Stay on track with this payroll compliance checklist

BMT Office Administration

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.

Payroll 52
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What Is The Impact Of Hybrid Working On Space Optimization?

Allwork

Many companies have adopted a more flexible approach to remote working. From Colliers’ 2022 Innovation Summit , we gather that 60% of companies will only need 50% to 70% of their existing office space in the coming three years. Naturally, every company is different. But the same can be said for the various teams in your company.

Policies 298
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5 SOP examples for your business

BMT Office Administration

This Standard Operating Procedure details all of the steps that must be taken to onboard all new hires to the company. New hire refers to any new employees beginning employment at the company. This includes rehires who were previously employed at the company but terminated their employment for a period of time. ATS user guide.

Payroll 72
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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

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?

Payroll 52
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Business finance: The ultimate guide for non-finance people

BMT Office Administration

Businesses live and die by the quality of their financial planning and performance, as most new companies fail (21.9% In fact, ROBS is currently the most popular form of business financing in 2023. However, to avoid confusion, most companies ensure that their fiscal year aligns with the current calendar year.

Finance 105
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Employee Files: What to include, what to leave out, and what’s confidential

BMT Office Administration

Besides complying with federal and state laws, keeping employee records helps you stay organized, aids decision-making, and protects your company if a terminated employee files a lawsuit. 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.

Filing 52
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Ensuring payroll compliance in 2024: What’s new?

BMT Office Administration

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

Payroll 52