Resources

You might decide to move an employee from hourly to salary because he or she has been promoted or given more responsibilities. Or maybe you want to simplify payroll-cost estimation, as salaried employees are usually paid a fixed amount. But before you do the conversion, it’s essential to consider the employee’s classification.

One option business owners choose for succession planning is an employee stock ownership plan (ESOP). ESOPs can empower and retain employees as well as provide tax savings, but careful consideration needs to be given to how and when these plans are valued.

An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be important to you and your business.

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A leap year occurs every four years, and for some employees, it means an additional payday. With 2020 being a leap year, you should know whether your payroll will be affected.

Whether you’re a small-business owner or an HR professional in a larger company, managing payroll can be a real hassle.

While the government generally dictates how you can pay yourself with a salary or the equivalent of a salary, it also provides flexibility for you to make withdrawals.

Today companies engage the services of turnaround professionals in order to take their business to the next level, resolve cash flow problems, operations issues or to work out problems with lenders due to a lack of liquidity or, in the worst case, severe insolvency requiring restructuring.

Profit and Loss statements are nice, but at the end of the day what truly matters is cash flow. Cash is King!

‘Tis the season when employers often will provide employees with “gifts” of some type. We all know the entity in town that gives all of its employees a turkey for Thanksgiving or Christmas. While this is a wonderful gesture on the part of the employer, is it compensation to the employee?