Five Year-end Ideas for Your Business

Benefit from PATH Act extensions Remember that year-end planning is not just for individuals. In fact, your business operation may benefit from tax moves in 2016 in the wake of several key extensions in the Protecting Americans from Tax Hikes (PATH) Act of 2015. Here are five ideas for small-business owners to consider. 1. Max out
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Complying with the New Overtime Pay Rule

DOL regulations to take effect soon The “final rule” on overtime pay, long anticipated by the business sector, was issued by the U.S. Department of Labor (DOL) this spring. However, changes in the regulations do not formally take effect until December 1, 2016. Because of that, employers still have time to make the adjustments necessary
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Five Steps to Manage Remote Employees

Ideas on the work-from-home trend For employees, working from home may fit into a hectic lifestyle. For instance, you can roll out of bed, log onto your personal computer or laptop, and attend a meeting, all while you are still in your robe and slippers. Many employees seem to quickly adapt to telecommuting, although some
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A Tale of Two Business Structures

Comparing C corporations with S corporations   If you are organizing a new business structure, you may prefer to set up a small company as a traditional C corporation or an S corporation. Alternatively, you might switch from one to the other for an existing business. Before you make your final decision, be aware that
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Lowdown on Transportation Fringe Benefits

PATH Act equalizes tax-free amounts Employers may provide ways to make it easier for employees to commute back and forth from work. Now the Protecting Americans from Tax Hikes Act of 2015 (PATH Act) has equalized the three main tax-free benefits for transportation, beginning in 2016. This relates to mass transit passes, commuter highway vehicle
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The Rules for PALs Are Not Friendly

Maximize tax benefits for passive activities Do you own investment real estate—say, an apartment building—that you rent out to tenants? Real estate can be a valuable and reliable source of income. Of course, the rental income is subject to tax, but the resulting tax liability may be offset by deductible expenses. In some cases, you
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Five Big Tax Penalties to Avoid

Cut your tax bill down to size Paying income tax is bad enough, but insult is added to injury if you are assessed any tax penalties. There are numerous no-nos for individuals and small-business owners to avoid, but here are five of the major offenses in the tax code. 1. Payroll taxes: If a business willfully
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10 Bad Reasons Why Good Employees Quit

Avoid common mistakes of supervisors Is employee turnover a constant problem at your company? Frequently, high turnover can be traced to mistakes being made at the supervisory level. Worst of all, the problems may easily be fixed, either through greater effort or a slight change in perspective. With that in mind, here are 10 common
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Six Hiring Mistakes to Avoid

Create a blueprint for interviews Are you hiring someone to join your business team? A successful new hire is one who meets the necessary requirements, fits in well with other team members and brings value to the business. When interviewing candidates, avoid six common mistakes that often plague business managers. 1. Establish your objectives. How
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Comparing Cash Flow to Business Profit

Understand and realize the key differences Don’t be fooled into thinking that cash flow and profit are the same thing. In fact, there are major differences. Cash flow is dynamic and moves daily, while profit is a snapshot of income and expenses at a specific point in time. Understanding this comparison, and acting upon it,
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