The CARES Act has opened the floodgates to free money for businesses Below are the basic details of loans available to businesses. They are incredible unless regulations apply limits: This new law lets any business borrow 2.5 months of payroll, benefits, interest on loans and lease payments. The loan is made through a bank that…
Preparing Your Business for the Effects of the Coronavirus – Emergency Business Planning With the rapid onslaught of the Coronavirus threatening to disrupt business operations in the U.S., there are three ways you can face the future: panic, do nothing, or plan. As we work with business owners through these tough times, we know the…
You can’t operate a successful small business for very long without investing time and resources into bookkeeping. For as necessary as the task is, however, it can also be expensive and time-consuming. This is especially true if you make an error remitting payroll or other taxes to the Internal Revenue Service (IRS) and must pay…
You may have heard how much small businesses benefit the general economy by providing jobs for more than half of all Americans. However, it would be a mistake to assume that the benefits of small businesses end there. From bringing communities together to offering more unique products than you might find at your local big…
According to the results of a recent Gallup poll, the number one reason that people resign from their jobs is that they feel unappreciated. This ranks over several other common struggles that people have at work such as conflicts with family responsibilities and not getting along well with their boss. The poll also states that…
The United States Department of Labor created the Fair Labor Standards Act (FLSA) to help regulate issues that arise between employer and employee. One of these is a tax deduction to offset the cost of employee uniforms. Because the FLSA considers uniforms a primary benefit to the employer, it doesn’t allow businesses to include the…
While employee turnover is a reality in your life as a business owner, it’s still costly and disruptive. You must spend time and money recruiting, hiring, and training a replacement while your current employees potentially take on a larger workload until the new hire is up to speed. Identifying your company’s weak spots and developing…
Although most companies have a vacation sick leave policy, employees sometimes feel confused about the difference between these two types of paid time off. In general terms, an employee uses sick time when ill or to care for a family member who is ill and vacation time for planned time away from work for any…
When choosing new HR technology for your company, it’s essential to keep both the candidate and employee experience in mind. The Internet has given both groups the power to share their experiences with your company, both good and bad, in a real-time setting. With this in mind, your human resources department should consider shifting the…
The payroll process involves much more than just adding up an employee’s work hours and determining the amount of his or her paycheck for the period. You must also withhold payroll taxes along with any voluntary withholdings the employee authorizes such as premiums for health insurance. Additionally, the Internal Revenue Service (IRS) and state governments…
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