Studies have consistently shown that employee compensation, although important, is not the primary factor that makes workers stay at a company. It’s not all about the money. In fact, some firms that provide stellar compensation packages suffer high turnover, low morale, and dwindling market share. (more…)
Management and HR
New Year Email Resolutions
Someone once said “An Inbox is as personal a space as an underwear drawer — we all have one and are all embarrassed by both its organization and contents.” Start 2012 off by applying some simple and effective methods to maintaining an organized and less overwhelming (or embarrassing!) Inbox. (more…)
Tax Tip Tuesday! Is Your Business Eligible For The Health Insurance Premium Credit?
Remember the postcard you got from the IRS last year introducing the health insurance premium credit for small businesses? To paraphrase the old song, there’s no letter in the mail for you this year.
Your business can still get the credit, though. When you qualify, you can use it to offset your federal income tax liability by up to 35% of the cost of health insurance premiums you pay for employees.
Three general tests for eligibility are:
- Employing fewer than 25 “full time equivalent” employees.
- Paying average annual wages of less than $50,000.
- Paying at least 50% of health insurance premiums for those employees.
Each test has specific requirements. For example, you may qualify for the credit, in full or in part, when you have more than 25 employees. That’s because “full time equivalent” is based on hours your employees worked during the year.
In addition, some employees aren’t counted for purposes of the credit, such as seasonal staff who were on the payroll for less than 120 days. Other excluded workers are sole proprietors, owner/employees, and shareholders who own more than 2% of the stock of an S corporation.
According to a recent report, many businesses that qualify for the health insurance premium credit fail to take it. Give us a call. We’ll make sure you get full benefit of all the tax breaks available to you.
Managing Your Sales Leads
The measure of the successful pursuit of a lead is based on whether the lead, in time, turns into a sale. The key to this transition lies in both speed and perseverance. A systematic organization and management of these leads can also help secure their progress through the stages of prospect to hot lead to profitable sale. (more…)
Tax Tip Tuesday! Are You An Active Participant?
Are you an active participant in your employer’s retirement plan?
A “yes” answer can affect your federal income tax deduction for contributions to your traditional IRA. (more…)
Get Wireless, Stay Wireless
What does it actually mean to be wireless? 3G/4G, WiFi, Bluetooth, Hot Spot, USB – these are all different ways of staying wireless and connected on your smartphone or laptop computer. (more…)
What’s New: New Law Signed By President Obama
On November 21, 2011, President Obama signed the Three Percent Withholding Repeal and Job Creation Act into law. This new law repeals three percent withholding on certain payments to government contractors. The law, H.R. 674, was amended to include the Vow to Hire Heroes Act which provides tax credits to employers who hire unemployed veterans.
What You Should Know About The Sales Tax Deduction
The sales tax deduction is available for 2011 tax returns. Here are answers to your questions regarding this deduction. (more…)
