Older Employees Present a Hiring Opportunity and Challenge
It’s in every employer’s best interest to keep an open mind about where the right talent for an open position may lie. Of course, in some industries, minds couldn’t be more open because skilled labor shortages are driving organizations to look everywhere for new hires.
Using Knowledge Management to Develop Your Succession Plan
As the old saying goes, “Knowledge is power.” This certainly rings true in business, as those who best understand their industries and markets tend to have a knack for staying on top.
Will Leasing Equipment or Buying It Be More Tax Efficient for Your Business?
Recent changes to federal tax law and accounting rules could affect whether you decide to lease or buy equipment or other fixed assets. Although there’s no universal “right” choice, many businesses that formerly leased assets are now deciding to buy them.
Beware the Ides of March — If You Own a Pass-Through Entity
Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes. Why?
Blow the Dust Off Your Employee Handbook
It’s probably safe to say that most employers have created some form of an employee handbook. But just because your organization has one, that doesn’t mean it’s functional.
Imposing Healthcare Plan Waiting Periods on Rehired Employees
It’s not uncommon for employers in some industries and localities to occasionally rehire a previously terminated employee. Should such a situation occur, you may wonder how to properly handle the waiting period typically imposed on new hires preceding their eligibility for health care benefits.
Best Practices When Filing a Business Interruption Claim
Many companies, especially those that operate in areas prone to natural disasters, should consider business interruption insurance.
When Are LLC Members Subject to Self-Employment Tax?
Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for services in the form of guaranteed payments — aren’t subject to self-employment (SE) tax.
4 Questions of Compensation Philosophy to Ponder
In the simplest of worlds, an employee effectively performs a set of tasks on an agreed-upon schedule and you pay him or her a fair wage. End of story.
Financial Statements Tell Your Business's Story, Inside and Out
Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their bookkeeping software. Although tracking financial transactions is critical, spreadsheets aren’t financial statements.