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Employee Payroll Tax Deferral

Employers are still grappling with the decision of whether to opt-in to the payroll tax deferral for employees or to continue to collect and remit these taxes. On August 8, 2020, President Trump signed an Executive Order, deferring the Social Security portion of the federal employee payroll taxes from 9/1/2020 through 12/31/2020. At that time, […]
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Holiday Gifts for Employees

Every year at this time, Employers are thinking of ways to give back to their employees, and to show their appreciation of a job well done. This can come with a lot of questions and concerns, especially as it relates to properly accounting for those gifts. Unless a gift in considered “de minimis” by the […]
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The Value of Succession Planning

Business owners generally concentrate their attention on maximizing profits in both short and long term cycles. After some time has passed, the need to have a long-term succession plan and exit-strategy takes center stage. At the inception of opening and running a small or medium sized business, the primary goal is establishing a sound profit […]
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Tax Savings Strategies

Avoid This S Corporation Health Insurance Deduction Mistake If you own more than 2 percent of an S corporation, you have to do three things to claim a deduction for your health insurance: 1. You must get the cost of the insurance on the S corporation’s books. 2. Your S corporation must include the health insurance […]
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The Termination Conversation

Any person who has been through the task of terminating the employment of another person will tell you – it’s HARD. Well, I should qualify that. It SHOULD be hard. If you’re in a position that puts you in charge of someone else’s livelihood, and you don’t take that responsibility seriously, you should consider finding […]
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Interview Pitfalls to Avoid

At a certain point, every business owner will have to interview potential staff. We all begin as novices at this task and will inevitably make mistakes. An interview is not only the candidate’s opportunity to make a first impression on you but is also the first impression that your business and YOU will make on […]
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3 Tips for Better Performance Evaluations

When asked their opinion about employee evaluations, many leaders will first cringe and second say they don’t find them useful. This has led to many companies adopting a new philosophy regarding performance evaluations; ditching the old formal review for mini feedback sessions or real-time performance conversations. I don’t recommend this approach. “Mini feedback sessions” in […]
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