Introduction
As we approach the end of 2021, businesses need to start preparing for the upcoming year. With the pandemic slowly but surely receding, companies need to be ready to take advantage of the opportunities that 2022 brings. In this article, we’ll go over the key schedule information that businesses need to keep in mind for the upcoming year so that they can plan for success.
Tax and Filing Deadlines
One of the most significant schedule changes that businesses need to be aware of involves tax and filing deadlines. The IRS has shifted the date for filing and paying federal income taxes for individuals and businesses from April 15th to May 17th, giving businesses an extra month to get their finances in order.
Moreover, the deadline for the first quarterly estimated tax payment has been pushed back from April 15th to May 17th as well. Businesses that file their tax returns for the year on a fiscal year basis should also keep this updated tax schedule in mind to avoid any penalties or interest.
Labor Laws and Compliance
2022 is going to be a big year for labor laws and compliance, with the Fair Labor Standards Act (FLSA) proposing new regulations, including a $15 minimum wage for federal contractors. Additionally, various states have implemented their own labor laws, such as California’s Labor Code 800 requiring employers to make reasonable accommodations for employees with medical conditions related to pregnancy and childbirth.
Businesses should keep themselves updated on the latest regulations and ensure that they are in compliance with all relevant laws, both federal and state, to avoid any penalties or lawsuits.
Conferences and Trade Shows
2022 is looking to be an exciting year for businesses as conferences and trade shows begin to resume in-person events. These events are crucial for businesses to network and showcase their products and services.
Businesses need to keep an eye on the dates for upcoming conferences and trade shows related to their industry and plan accordingly. They should consider booking tickets and hotels as early as possible to ensure attendance, given the high demand for these events.
Holidays and Breaks
Another critical aspect of scheduling involves holidays and breaks. Businesses need to be aware of when holidays such as Thanksgiving, Christmas, and New Year’s are taking place so that they can adjust their work schedules accordingly.
Moreover, businesses should account for the vacation and holiday time that employees may take during these periods to avoid being short-staffed during critical times. Employers should also communicate the schedule regarding the holiday break to the employees well in advance so that they can plan and prepare for the holidays themselves.
Conclusion
In conclusion, businesses need to take into account these schedule changes to plan better for 2022. The revised tax and filing deadlines, the new labor regulation being implemented, the in-person conferences resuming, and holiday schedules all play an essential role in the success and productivity of your business. Stay up-to-date with these vital dates, and plan accordingly for a successful and profitable year.
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