When it’s time to consider your business’s future, succession planning can protect your legacy and successfully set up the next generation of leaders or owners. Whether you’re ready to retire, you wish to step back your involvement or you want a solid contingency plan should you unexpectedly be unable to run the business, exploring different [...]
HR managers say they spend 12 hours on average, or more than one-fourth of their week, on payroll and benefit-related administrative tasks–with 27% of them spending 20 hours or more. Are human resources (HR) teams spending a disproportionate amount of time on administration? That is one of the finding in the 2024 State of Employee Financial [...]
The 2024 Olympics showcased numerous instances of diversity, equity, and inclusion (DEI). Here are some DEI takeaways that entrepreneurs can implement in their businesses today. For the very first time, the world witnessed the first all-black podium in women's gymnastics Olympic history. Brazilian gymnast Rebeca Andrade joined Simone Biles and Jordan Chiles from Team USA [...]
The IRS is opening a supplemental claim process to help third-party payers and their clients resolve incorrect claims for the Employee Retention Credit (ERC). Third-party payers report and pay clients’ federal employment taxes under the third-party payer’s Employer Identification Number. They handle clients’ payroll and tax reporting duties. Some of these TPPs filed ERC claims for multiple [...]
The IRS shared new steps the agency is taking to prevent honest taxpayers from falling victim to Employee Retention Credit (ERC) scams. The IRS continues to warn small businesses about aggressive promoters encouraging filing potentially ineligible claims. The IRS urges small businesses to check with a trusted tax professional about ERC instead of relying on a promotion company. [...]
Businesses and tax-exempt organizations should watch out for telltale signs of misleading claims involving the Employee Retention Credit. Scammers and unscrupulous promoters continue to run aggressive broadcast advertising, direct mail solicitations and online promotions for the credit. Many of these ads wildly misrepresent and exaggerate who can qualify for the ERC, which is sometimes also called [...]
Maximizing Leadership Potential through Deliberate Decision Making is crucial for business growth. As an executive coach for the last 30 years, I will share with you why it’s so important to make deliberate decisions, especially in today’s fast-paced business landscape. I have witnessed leaders who are often faced with the pressure to make rapid decisions [...]
The annotations show the locations he supposedly visited in connection with either business. For several reasons, the Tax Court didn’t find this evidence credible. A taxpayer who deducted expenses attributable to the business use of his vehicles took a wrong turn before the Tax Court. Ultimately, he wasn’t able to back up his claims (Eze, [...]
If your organization isn’t letting people go, the one next door probably is. That’s a key finding from a survey released Thursday by consultant PwC, which last month polled more than 700 US executives and board members across a range of industries. Half of respondents said they’re reducing headcount or plan to, and 52% have [...]
As work and work life continue to evolve, companies are exploring whether a shorter week can solve some of the workforce's biggest challenges. hai and Naomi Aharony, managing directors of London-based digital PR agency Reboot, have embraced a new normal – in March, they moved their company to a four-day work week. The pair were [...]