Summary: Profit-sharing is a group incentive plan for employees to share in profits. Click through to change your culture from “Let’s get it done” to “We’re all in this together.” Your business is doing well, and you want a way to share some of your firm’s profits with the people who helped create its […]
Summary: When operational efficiency is healthy, your business can cut down on unnecessary costs while increasing revenue. Click through for some thoughts on how you can make your business more efficient. Optimal output is the dream of every business leader. But in real life, pressures and priorities mean managers spend most of their time […]
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: 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: 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: Workplace style during the pandemic took a dramatic shift to casual attire. Was this a one-time change or was it permanent? Click through to see whether office dress codes will return to pre-pandemic button-downs and slacks. Many workers have spent the past year working from home, their suits and dress shoes gathering dust […]
Summary: Do you rely on seasonal employees to fill staffing shortages during holidays or busy periods? Click through for insights into navigating seasonal employment. Seasonal employment is commonplace in service-oriented industries such as retail and hospitality, where business tends to spike during certain times of the year. Other employers can utilize seasonal employment as […]