May 28, 2022
Renowned Asian American and Native Hawaiian/Pacific Islander Innovators
During Asian American and Native Hawaiian/Pacific Islander month, let’s recognize some outstanding scientists, inventors, and innovators. Here’s a list of 15 scientists and engineers, including Peter Tsai, a Taiwanese American materials scientist who invented the fabric used in the filters of N95 masks. Here’s another list of other innovators, including Ajay Bhatt, an Indian/American computer architect responsible for the development of UBS technology. #IdeaoftheDay
When you hire a worker, you effectively have an agreement that you’ll pay the worker for the work performed and treat the worker fairly. But depending on the nature of the worker—skilled, management, etc.—and the nature of your company, you may want additional agreements. Agreements are really contracts reflecting terms and conditions that each party understands and the breach of which can result in consequences. So, which agreements (contracts) do you want or need with your employees and what’s the best way to handle these agreements? Which agreements with your employees are advisable? Most employees in the U.S. are “at […]
With National Small Business Week recently passed, it’s a good time to look at how business owners appear on their personal tax returns. The IRS’s Spring 2022 Statistics of Income Bulletin has data on 2020 returns. Here are some highlights for a tax portrait of business owners: Business income and losses reported Of the 164,187,262 federal income tax returns filed for 2020, 27,455,060 attached Schedule C to report non-farm income or loss from a sole proprietorship (farming income is reported on Schedule F discussed later). Schedule C is also used by independent contractors, including those who work in the gig […]
Under the federal Fair Labor Standards Act (FLSA), you must pay workers subject to minimum wage rules for the time that work is performed. This rule applies whether they’re working at your company site, in their homes, or on location. This simple statement is more complex when you try to define whether the time spent on certain activities falls within FLSA requirements. Look at various scenarios: Commuting Employers don’t have to compensate employees for the time they take to get to and from work each day; commuting isn’t treated as work. This is so regardless of the length of their […]
The pandemic has been stressful. Inflation is taking its toll on everyone. Crime, politics, you name it…all are contributing to challenges to mental health. May is Mental Health Awareness Month, so it’s a good time for companies to focus on this issue for their employees. There’s a good reason for this because according to a recent survey by JobSage, more than one in 4 employees have quit their jobs during the “Great Resignation” because of their mental health. To retain employees and keep your workforce happy and healthy, understand the problem and what you can do about it. What employees […]
It’s common for business owners to pay various expenses from their own pockets. It just may be easy to do. But it can impact who takes the deduction for these business expenses. The entity used by your business dictates this…but you can change the results with reimbursement arrangements. Impact of your legal entity on deducting out-of-pocket expenses Say you’re out to lunch with a client and pick up the tab on your personal credit card. What now? If you’re a sole proprietor…claim the deduction on Schedule C. The same tax treatment applies if you are an independent contractor or a […]
Getting insurance is an integral part of running a business. Some insurance is mandatory, some is highly advisable, and some is merely good to have if you can afford it. Understand which insurance to get when starting out and consider some ideas you can use to make it affordable. Understand which insurance to get for your start-up Must-have insurance There are certain types of coverage you’re required to carry by federal or state law, depending on your activities. If you have employees…you must have unemployment insurance. This is collected like a tax by the federal government (called FUTA) and your […]
Mother’s Day 2022—the second Sunday in May each year—was proclaimed by President Woodrow Wilson “as a public expression of love and reverence for the mothers of our country.” It also serves as a good reminder to employers that working moms should be honored all year long with policies and practices that support their situations. The pandemic highlighted the strain on many working moms during the lockdown when they had to manage work and their children’s remote learning. In fact, 1.1 million women left the workforce entirely, many citing childcare demands as their reason. So, what can employers do now to attract and […]
In the business world, organizations have to create and maintain data on various platforms to ensure accuracy. Most companies handle data regularly by storing and sharing it digitally — and sending the stored information from databases. In fact, 44% of firms share data continuously. However, this can lead to mistakes, negatively impacting the organization. Yet, companies can prevent and resolve these issues quickly by maintaining data properly. Here’s your guide to data integrity. What Is Data Integrity? Data integrity is the maintenance of data, ensuring it’s accurate, consistent, and complete. Organizations must have data integrity to maintain regulatory compliance and […]
May 2-5, 2022, is National Small Business Week. It is a time to recognize the important contributions that small businesses make—to their families, their employees, the economy, various causes, and more. It’s also a time to recognize the achievements of some specific businesses and owners. This year’s theme for the week: Building a Better America Through Entrepreneurship. There’s a virtual summit with events you may be interested in. National Small Business Week is also a good time to see where things stand in this post-pandemic era. Profile of small business in the U.S. How many small businesses are there in […]
Environmental, Social, Governance (ESG) Reporting for Your Business
5 Ways to Have a Healthier Workplace
Business Owners Need to Plan for Personal Catastrophe
Startup Ideas: Getting Your Ducks In a Row
- Bob Benowitz
- Jim Blasingame, Host of The Small Business Advocate Show
- Gina Bertoletti
- Lesley
- Lisa Rubenfeld
- Michelle Joe
- Lynnette Khalfani-Cox, The Money Coach
- J. S. Budnik
- Shane Madigan
- Lee Drozak
- Meredith Wood, Fundera Ledger
- An eBay Radio listener - purplejaime1976
- Don Aronowitz