One of the most common questions we hear from business owners is “How do I get my employees to care about my business as much as I do?” The employees don’t have the same financial and emotional capital invested, so they’ll probably never care as much, but you understand the essence of the question. Our [...]
There is no denying that the year 2020 has changed the current state of how we work individually, and how we work as a member of a team. The events of 2020 will also more than likely become a catalyst for how we work in the future. During the last six months, I think it’s [...]
Diversity has become something to be celebrated and is a necessity for success in today’s working world. What is the first thing that comes to mind when you think of diversity? Culture? Gender? What about age? Many workplaces now have upwards of four different generations working together. As we start a new decade, use this [...]
For business owners, identifying ways to provide fringe benefits to attract and retain employees has become more crucial than ever. In this era of low unemployment rates, having a competitive advantage in the labor market can be difficult. This will, in turn, impact a business’ ability to recruit and retain qualified employees and keep [...]
Jodi Kerr, Tax Principal at TD&T CPAs and Advisors, P.C., provides some insight on types of wage garnishments and possible employer risks. Many businesses are dependent on a dedicated, dependable work force. Hiring, retaining and compensating employees adds another level of challenges to a small business owner. One specific challenge involves managing employee wage garnishments. [...]
Having employees is not only critical to the operations and success of your business, but they also add compliance and record-keeping requirements that are sometimes overlooked. Many small and medium-sized companies do not have the need or financial resources to hire a human resource professional; therefore, those duties normally fall on the controller, bookkeeper, or [...]
Many people are wondering if it’s now more beneficial to be self-employed rather than an employee since the release of tax reform details. Two reasons this is coming up: The itemized deduction for unreimbursed employee expenses is no longer available for tax years 2018-2025. Passthrough income earners (self-employed people) may now potentially take a 20% [...]
When your business looks to hire employees, you may inadvertently overlook some specific groups who sometimes face barriers to employment. Enacted in 2015, the Protecting Americans from Tax Hikes Act (PATH Act) includes a provision that provides some incentives for your business to hire from these targeted groups of people. The Work Opportunity Tax [...]
When you hire someone for a long-term, full-time project or a series of projects that last for an extended period, you need to understand the difference between independent contractors and employees. The Internal Revenue Service (IRS) and state regulators pay close attention to how employers categorize people who perform work for them. Getting it Wrong [...]
To encourage businesses to hire individuals from certain select groups, Congress Passed the Work Opportunity Tax Credit (WOTC) for employers. As they did for a lot of credits and other tax code opportunities, Congress did not renew the WOTC until late in 2015, but the extension applied retroactively back through the entire year. In addition, [...]
