Employee loyalty is not what it used to be. One in four employees will leave their jobs, according to the 2018 Work Institute Report. And that same report states that nearly 77% of that turnover could be prevented by employers. Losing a key employee can create a gap in knowledge, causing a company to scramble looking for answers. Without strong retention, the loss of a key employee can be quite expensive and may leave your business in a position of instability.
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What Is the Real Cost of Covering Employees Under a Qualified Plan?
Business owners often bristle at the idea of putting in a qualified retirement plan because they must contribute on behalf of their employees. But what they don’t realize, is that with a properly designed qualified plan, the current tax savings alone may exceed the “cost” of covering those employees. (more…)
How to Improve Your Bottom Line and Employee Engagement
There is something refreshing about the start of a new year. For many business owners, the first quarter is a time of renewed motivation. As a business owner, this is an ideal time for goal setting and planning so that you can take advantage of the opportunities in front of you. While there are a plethora of ways to improve your business in the new year, here are a few tips to help improve your bottom line, while keeping your employees happy. (more…)
How the Tax Reform and Jobs Act Impacts Business Owners
Are you the owner of a Pass Thru Business Entity? For instance, do you do business as a sole proprietorship, S Corporation, LLC or Partnership? If so, you may have heard that there was potentially good tax news coming from the Tax Reform and Jobs Act, passed by Congress in late 2017. (more…)
Five Steps to Consider During Your Annual Business Review
Once a year I go to the doctor for my annual physical. Once a year I bring my car to the local mechanic for a tune up. And similarly, at least once a year you should pull down the blinds in the office, pull out your ledgers and do a comprehensive review of your business. Here are five steps to consider before the end of the fiscal year comes to a close. (more…)
