Business Management Daily

JANUARY 23, 2022

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

Taxes Employee Compensation Commissions Entertainment 94

HR Bartender

JULY 19, 2016

Employers will be allowed to use nondiscretionary bonuses and incentive payments (including commissions) to satisfy up to 10 percent of the new salary threshold. They’re also having internal discussions about how to manage overtime pay and payroll expenses. These changes go into effect on Dec. Exploring the Overtime Policy Piece.

Overtime 90

Overtime Human Resources Retirement Plan Life Insurance 90

Hireology

MARCH 23, 2018

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. This includes everything from paying employees what they’re owed, paying commissions on time, and accurately deducting for health insurance and other benefits. Complete a Mock Payroll Run.

Payroll 60

Payroll Deductions Deductible Commissions 60

Higginbotham

MARCH 1, 2022

Assuming you work in a trade that qualifies for general contractor licensing, the process to apply is as follows: Submit your Federal Employer Identification Number (Tax ID). Report your number of employees/subcontractors and details about your payroll (if applicable). Tax registration. Register with the Division of Revenue.

Construction 52

Construction Insurance Taxes Workers’ Compensation 52