Any business owner knows that being efficient is crucial to the business's success. Saving time on things that can be done by someone else is a crucial component of efficiency. By outsourcing payroll, companies can spare the time and headache of finishing it and making sure to pay their employees on time.It can become costly when [...]
The Affordable Care Act includes the Small Business Health Care Tax Credit, which can benefit small employers who provide health coverage for their employees. Taxpayers who own small businesses might claim a general business credit on the personal returns when meeting specific criteria. The Small Business Health Care Tax Credit benefits employers that have fewer than [...]
As many business owners have heard about a new leasing standard, ASC 842, many of them don’t realize it’s been in effect for almost three years. Now, the original adaption and implementation of the new standard are just right around the corner! What should you know about this new standard if you own a business? This [...]
“I could sell water to a whale.”Indeed, most salespeople possess an abundance of confidence. One could say it’s a prerequisite for the job. Because of their remarkable self-assurance, sales staff might appear to be largely autonomous. Hand them something to sell, tell them a bit about it and let them do their thing — right?Not necessarily. [...]
Part II: Risk AssessmentIn the last post on this topic, we discussed the importance of controlling an environment in responding to and preventing risk. Another component of the COSO framework for company fraud risk management is taking steps to assess your risk. All businesses experience risk, but it is important to determine the risk to identify [...]
For many businesses, offering employees a 401(k) plan is no longer an option — it’s a competitive necessity. But employees often grow so accustomed to having a 401(k) that they don’t pay much attention to it.It’s in your best interest as a business owner to buck this trend. Keeping your employees engaged with their 401(k)s will [...]
