Stay aware and in compliance with 2023 labor laws for the 2023 tax year with comprehensive accounting and payroll software. The federal government and all 50 states regularly make changes and updates to labor laws. Your business does not need to struggle to maintain compliance. Whether you stay vigilant or create checklists, implement day-to-day steps to ensure your business’s completion of its requirements. Find trustworthy tax software that provides you with reliable compliance tools.
Advanced Micro Solutions offers small businesses a full accounting suite of tools with its base W-2/1099 Forms Filer program. Build onto the core product with any of our six optional add-on tools, like AMS Payroll. Our system can deliver an affordable and diverse range of tax filing or payroll reporting capabilities for multiple tax years.
Small Business Tips for Compliance with 2023 Labor Laws
Stay within your business’s budget and reduce the risk of compliance consequences in a few types of ways. These methods may include:
Knowing the Relevant Labor Laws – Understand which federal and state labor laws apply to your business for each tax year. Certain tools help to ensure that you know which variation of a federal requirement applies to your business. Regularly review the status of these laws for any changes.
Creating an Employee Handbook – Set aside some time to create a comprehensive employee handbook for total compliance. A handbook should outline each employee’s rights and benefits. Update the handbook to reduce the risk of incurring future employee lawsuits due to confusion or miscommunications.
Investing in Tax Software – Maintaining compliance with 2023 labor laws is straightforward with tax software. Software may provide state and federal tax tables for your business to use whenever they need to reference relevant laws and regulations. Save time searching for any state-level requirements on departmental websites.
Making a Compliance Checklist – Keep it simple by putting together a list of all the laws and regulations affecting your business. Separately identify if any of the business’s tax actions will recur, like an annual notice. An employee should keep a calendar of deadline dates to ensure that the business does not overlook any of them.
What are the Benefits of Labor Law Compliance?
Retain your employees and create an affable work environment with thorough tax software. The benefits of using software to maintain compliance with 2023 labor laws are:
Established Work Hours – Payroll labor compliance helps to guarantee that your employees receive the appropriate minimum or overtime wages for their work. Track all employees’ hours using payroll software to ensure that the business does not shortchange any compensation for its workers.
Safe Workplace Environment – Identify any work discrepancies with tax software. Review the safety requirements that keep a company functional. You may find that some of your employees work too many hours. Payroll software helps you to avoid noticing these types of trends too late.
Equal Employee Treatment – Review employee compensation with payroll software whenever you deem it appropriate. You may decide to offer de minimis fringe benefits or some bonuses for employees. Maintain your business’s compliance with 2023 labor laws when you track who you gave bonuses to and how often.
Uniform Payment – Unbiased payroll processing is crucial for any employer in any industry. Do not only use tax software during a tax season. Invest in payroll software that allows you to input data and analyze trends throughout the year.
Why Small Businesses Choose AMS
Our W-2/1099 Forms Filer supports up to 99,999 employees or recipients per payer. Enter data onto an entry screen that resembles the actual relevant tax form. Adding on AMS Payroll allows your business to process “live” or after-the-fact payroll with checks throughout the year. Set up an automated process to calculate your business’s federal, state, and local payroll taxes. AMS software includes up-to-date state and federal tax tables for its users’ convenience.
Import and export your secure employee and company data in a few ways. Import any data from QuickBooks, PeachTree, Excel, or Tab Delimited Text files. Export the same employee data to a Tab‑Delimited Text File or your QuickBooks General Journal. Keep your business’s compliance with 2023 labor laws by using our View Command feature. The feature shows state and federal tax liabilities at any time.
Download our 1099-etc Demo software today to explore any of our other five optional add-on modules. We have Software Generated Forms, E-File, Affordable Care Act Filer, Forms Filer Plus, and 1042-S Filer. See which tools make the most sense for your business’s needs.