Unique Employee Benefits to Differentiate Your Business

New customers aren’t the only group of people you may be trying to attract to your business. It can be as equally challenging – maybe even more so – to attract and retain quality employees. In fact, 40% of business owners say they have job openings they couldn’t fill, according to an August 2023 survey by the…

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Hiring Family Members – What You Need to Know!

Many business owners hire their children, their spouse, or other family members to work in their business. Sometimes this works out well. Other times it causes problems. Here are some the key pros and cons of putting family members on your payroll. Hiring your children Hiring your kids for a part-time job usually has more…

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Is Your Worker a Contractor or an Employee?

Is a worker an independent contractor or an employee? This seemingly simple question is often the contentious subject of numerous IRS audits. As an employer, getting this wrong could cost you plenty in the way of Social Security, Medicare and other employment-related taxes. Here is what you need to know. As the worker: If you…

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Reap The Benefits of Hiring Your Child For The Summer

Reap The Benefits of Hiring Your Child For The Summer

Hiring your children to work in your business can be a win-win situation for everyone. Your kids will earn money, gain real-life experience in the workplace, and learn what you do every day. And, you will reap a few tax benefits in the process. Before you decide if hiring your child is the right thing…

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Boost Employee Productivity With Paid Time Off

Boost Employee Productivity With Paid Time Off

  A good employee is a valuable company asset, and no doubt you want your employees to be as productive as possible – which is why a suggestion to boost productivity with paid time off might sound counterintuitive. Paid time off (PTO) can be a critical component of your employee benefits package. Besides the obvious…

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Independent Contractor or Employee – The Distinction Matters to the IRS

If you’re a business owner, you have financial incentive to want to classify workers as independent contractors rather than as employees. For example, you’re required to withhold and pay taxes on employee wages, and you may need to offer employee benefits such as paid time off and pension contributions. None of these are required with…

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