Key employees are often cited as one of the most significant value drivers within a successful company. In this Money Talks Minute, Bil Lako, CFP® explains how properly motivated key employees help build profits, and how a well-designed key employee retention plan can help your business.
For small business owners, growing a business is a fine balance. Growing too quickly can significantly damage the trajectory you’ve set, while grow too slowly can let your competitors pass you.
The sheer number of available jobs has been running far above the number of unemployed job seekers. We explore what this means for workers.
Every small business has accounting and bookkeeping responsibilities, including selecting the accounting method that works best for them. If you’re new to small business ownership, you might not even realize that there are multiple ways to keep tabs on your company’s finances.
With gas prices soaring, the IRS increased the mileage rate that business owners can deduct for vehicle use instead of keeping a record of actual expenses.
The Our Three Cents hosts Troy, Nick, and K.C. of Henssler Financial answer the question if it is too late to sell your business this year now that interest rates are increasing and the market has taken a roughly 18% tumble.
Small-business owners: If you’re looking to hire, consider looking at your state workforce agency, 10 targeted groups, for your next employee. You may be eligible for the Work Opportunity Tax Credit (WOTC), up to $2,500.
New business owners, especially those operating small businesses, may be helped by a tax provision allowing them to deduct up to $5,000 of the start-up expenses and $5,000 of organizational costs in the first year of the business’s operation.
Smart cash flow management is absolutely crucial for a business to navigate through a recession. If you’re a new entrepreneur who hasn’t been through an economic downturn, you may be less familiar with how quickly your finances can be affected.
An S corporation does not directly pay taxes on its income; instead, its income, losses, deductions, and credits flow through to its shareholders’ individual tax returns and are not subject to self-employment taxes. As a result, many S corporations ignore the requirement that each shareholder-employee must take reasonable compensation in the form of W-2 wages in exchange for services performed for the corporation.
