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Everything you need to know about Form 1099-NEC

Business Management Daily

Tax season is right around the corner. For business owners, the month of January is the time to prepare and send out tax information for employees and nonemployees that they paid during the prior tax year. Beginning in tax year 2021, there are no longer automatic 30-day extensions to file. Is Form 1099-MISC still used?

Taxes 94
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Taxation of Identity Protection Services

Fringe Benefit Analysts

According to the IRS, identity theft has been the number one consumer complaint to the Federal Trade Commission for 15 consecutive years. The amount someone may pay for the service is likely less than the potential loss they may face due to fraud. Are Identity Theft Protection Services Tax Deductible?

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The New #FLSA Overtime Changes: Make Sure Company Policies Are Aligned

HR Bartender

Employers will be allowed to use nondiscretionary bonuses and incentive payments (including commissions) to satisfy up to 10 percent of the new salary threshold. In case you missed it, here’s a short summary of the ruling : The Department of Labor has set the new standard salary level at $913 per week or $47,476 annually.

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The Value of Modified Duty Programs – Ask #HR Bartender

HR Bartender

Fortunately, I worked for an employer that was open to modified duty. It sounds like this employer is as well. Please remember that her comments should not be construed as legal advice or professional consulting. Spence] When an employee remains off work after an accident the employers cost of doing business rises.

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3 Ways Your Business Can Avoid Damaging Payroll Mistakes

Hireology

This includes everything from paying employees what they’re owed, paying commissions on time, and accurately deducting for health insurance and other benefits. Payroll can make up about 50% of a business’s total expenses, so it’s important to avoid all payroll mistakes and strive for 100% accuracy.

Payroll 60
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How to get a contractor’s license

Higginbotham

Past or present employer. All businesses in Connecticut are required to have a Federal Employer Identification Number (EIN) and register with the Connecticut Secretary of State and Department of Revenue Services. Tax registration. This total is to include all labor, materials and other project items. Union representative.