Summary: Can you lay a strong foundation for a flourishing, long-lasting small business in the post-pandemic world? Click through to learn how to seek out and seize opportunities and integrate resilience into your business plan. The pandemic foisted changes on society that reset the context for your company, its employees and professionals, but just […]
Summary: The “net pay” line appears on every paystub, but many employees, and even many companies, aren’t always sure what it means. Click through for an introduction to the detailed tax and finance calculations involved in “net pay.” If your payroll provider handles your payroll-processing responsibilities, you might not see the need to learn […]
Summary: Have a hobby that’s also a source of income? The line between business and hobby can be a thin one, and the rules are complex. Click through for some insights that will help you make sure that you’re in compliance and that you’re not missing any allowable deductions. Caterer? Cupcake baker? Craft jeweler? Maybe even […]
Summary: Bonuses are one of the best ways to motivate employees. But to actually work, a bonus program must be thoughtfully designed. Click through to learn about characteristics of an effective program. A bonus is extra money paid to employees in addition to their wages or salary. Sometimes called “incentive pay” or “variable pay,” […]
Summary: We are often urged, with good reason, to make a will to help put our lives in order. It’s a responsible and worthwhile thing to do — but not the only thing. Click through to learn when a will is not the best route. Making a will is the primary way to transfer ownership of […]
Summary: Business expenses are the cost of carrying on a trade or business. Sometimes, the IRS gives you a tax break for your expenses. Click through for an introduction to the complex world of business tax deductions. You have lots of expenses when running a business. Are any of them deductible? To begin with, […]
Summary: A reverse mortgage can be the perfect solution for seniors who want to stay in their homes, but there are some long-term drawbacks. Click through for a review of the pros and cons of this popular financial technique. If you’re 62 years of age or older and want money to supplement your income, you might […]
Summary: Most employers must adhere to the Fair Labor Standards Act. But the FLSA can be complex — and mistakes are common and costly. Click through for a quick list of common FLSA errors you should avoid. Enacted in 1938, the Fair Labor Standards Act governs federal minimum wage, overtime, child labor and recordkeeping laws. Failure […]
Summary: You may have been advised to check your tax withholdings at least once a year. But in 2021, considering all the pandemic-related changes, it’s a good idea to check more frequently. Click through for some IRS withholding advice to forestall any surprises at tax season. Are you having the right amount of taxes withheld from […]
Summary: You may be able to claim a tax credit of up to $5,000 when you set up a SEP IRA, a SIMPLE IRA or a 401(k) plan. Click through to see how the tax credit reduces the amount of taxes you owe. A tax credit for small-employer pension plan startup costs may be awaiting you. […]