The New FLSA Overtime Rules Do Not Have to Mean Higher Wage Costs
Update… 11/23/2016. Yesterday, a Federal court in Texas put a temporary injunction on the new law. 21 states had been contesting the bill, which was consolidated into a single suit claiming the Department of Labor did not have the authority to make this large change. This action doesn’t reverse law, but only puts the implementation…
Read MoreReduce 2016 Income Taxes Now (Take Action Before December 31st!)
If you wait until April 15th to try and reduce your 2016 income tax, there will be very few things you can do. “If” you qualify, you can make contributions to Retirement or Health Savings account up to the April 15th filing deadline that can be deductions for the prior year’s income, however, most tax…
Read MorePart 1 – How will the Increased Minimum Wage Rate Impact Your Business?
Part 1 – How will the increased minimum wage rate impact your business? Many states have, or are considering, increasing the minimum wage rate. As a business owner and/or manager, it is important that you have a clear understanding of the impact that a wage rate increase has on your operations. This is the…
Read MorePart 2 – Managing a Minimum Wage Rate Increase – Increasing Prices, Sales Volume & Cutting Costs
Part 2 – Managing a Minimum Wage Rate Increase – Increasing Prices, Sales Volume, Cutting Prices, etc. This is the second post in a series of posts relating to dealing with an increase in a minimum wage rate. The first post dealt with estimating the impact that a wage rate increase would have on your…
Read MorePart 3 – Increasing The Minimum Wage Rate: Solution or Problem?
Part 3 – Increasing The Minimum Wage Rate: Solution or Problem? Many states have, or are considering, increasing the minimum wage rate. I’ve written two articles to help business owners/managers analyze the impact a wage rate increase (Part 1), and to discuss some of the primary strategies in dealing with it (Part 2).…
Read MorePart 4 – Free Excel Spreadsheet: Analyze the Impact of a Minimum Wage Rate Increase
Part 4 – Excel Spreadsheet: Analyzing the Impact of a Minimum Wage Rate Increase FREE EXCEL SPREADSHEET – We have provided an Excel spreadsheet to help you compute the financial impact of the wage increase to your business. Do you have the latest spreadsheet update? Most current spreadsheet is dated: 1/14/2016 WARNING: The…
Read More2015 Tax Legislation Passed in Time for Christmas (and for Year-End Tax Planning)
UPDATE: 2015 Tax Legislation Passed on December 18, 2015… just in time for Christmas, and for your 2015 year-end tax planning. I expected Congress to pass legislation extending the 50+ key tax provisions (nick-named “extender tax provisions”), but my expectation was that it would be a one or two year extension. That is what has…
Read MoreTaking the Political Easy Path – Extender Tax Provisions Update
In an earlier post, I discussed the on-going issue with Congress where they continue to extend 50+ key tax provisions (nick-named “extender tax provisions”) for only one or two years, and then the process must be repeated. Why won’t Congress make the changes permanent? Because of politics. Specifically, these changes reduce tax revenue and increase…
Read MoreReduce Taxes Now! Take Steps Before Dec. 31st!
If you wait until April 15th to try and reduce your 2015 income tax, there will be very few things you can do. Review your tax situation now, before December 31st, and take action to minimize your 2015 income tax. There is some uncertainty in which tax provisions Congress may decide to extend, but the…
Read MoreCongress is Doing Nothing About Taxes… Again!
Updated 11/19/2015: My article below addresses the bigger issue behind the annual tax-extender dance that takes place in Washington DC. Once again, we sit waiting for Congress to punch our card so that we can move off our seats. This is not just a current issue. It is an on-going large problem, and it is…
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