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The general rule of thumb for tax records is to keep everything for at least three years, but there are some things you should keep longer. Throughout the year, I recommend that you keep your pay ...
The general rule is to keep your tax records for three years, but there are several important exceptions for when you might need to keep your tax records for a longer period as a taxpayer.
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Handling payroll typically involves sending out payslips to employees.. A payroll is a list of employees of a company who are entitled to receive compensation as well as other work benefits, as well as the amounts that each should obtain. [1]
developing a records storage plan, which includes the short and long-term housing of physical records and digital information identifying, classifying, and storing records coordinating access to records internally and outside of the organization, balancing the requirements of business confidentiality, data privacy , and public access.
For employees that do not have access to a personal bank account, most major payroll service providers can arrange for the net pay of an employee to be loaded onto a payroll card, which is a plastic card similar to a debit card. A payroll card functions like a debit card and allows an employee to access their pay. [1]