Effective December 1, 2016, federal overtime regulations will change and may affect how you are paying your employees. These overtime updates will affect 4.2 million workers across the country. The new rules will raise the salary overtime-eligibility threshold from $455/week to $913 ($47,476 per year). This new threshold will increase every three years. Salaried workers already entitled to overtime will get increased protection. Employers have a choice of three actions they can take to employees who
The best cakes have layers and layers of different delicious flavors to enjoy. Stacked on top of one another, each layer is baked separately and becomes part of the whole. Like a layer cake, your business expenses have layers of meaning to them. When you can understand how expenses play a part in profit, you can manage them better. Here’s how to make a layer cake of your business expenses. Let’s start with the most
Have you ever wished you didn’t have to buy yet another server? Do you have to delete old files on your hard drive to make room for new ones? If disk space is an issue in your company, the good news is there may be a better and cheaper way: cloud storage. You might think cloud storage is only for large companies, but it’s surprisingly easy to use no matter whether you have a full
Seven Small Business Risks You Might Not Know You’re Taking
Category: Business Development, Business Tips
Running a small business is often about taking and managing risks. Market risks are normal but business and tax risks are another thing altogether. Most business and tax-related risks can be managed as long you know about them. Here are seven small business risks you will want to make sure are covered. 1. Best Choice of Entity Are you operating as a corporation, limited liability company, partnership, or sole proprietor? More importantly, is the entity
Most small businesses need help with cash during certain stages of their growth. If you find that you have more plans than cash to do them with, then it might be time for a loan. Here are five steps you can take to make the loan process go smoother. 1. Make a plan. Questions like how much you need and how much you will benefit from the cash infusion are ones you should consider. If