Employers understand that offering a broad range of employee benefits can help attract, motivate, and retain key employees. One benefit that an increasing number of employers are adding to their employee benefits package is a cafeteria plan (also known as a flexible benefit plan). A cafeteria plan is a written plan under which participants may choose their own menu of benefits consisting of “cash” and “qualified” benefits. Cash here means:… Read More
Business Best Practices
Bookkeeping & Accounting Tips for Small Business Owners
Running a small business is a demanding task, requiring you to wear many hats, from managing operations to marketing and customer service. Among these responsibilities, bookkeeping and accounting are crucial for the financial health and sustainability of your business. While it may seem daunting, effective financial management doesn’t have to be overly complicated. Here are some essential bookkeeping and accounting tips to help small business owners stay organized, compliant, and… Read More
How Do You Determine How Much to Pay New Hires?
Small business owners know that high performers seek out jobs that offer them an opportunity to grow and to develop professionally. Benefits are also important to job seekers. However, salary plays a major role in the decision to accept a job offer. Every owner of a small business struggles with the question of how much to pay a new hire. As a small business owner, you understand that applicable wage… Read More
S Corp, C Corp and LLCs – Which Works Best for You
S corporations, C corporations and Limited liability companies (LLCs) are all business structures that differ in ownership, taxation, benefits and disadvantages. Ownership C corporation can include unlimited number of shareholders including non-US citizens. S corporations can have up to 100 individual shareholders including LLCs, partnerships, or many trusts. S corporations also can’t have non-U.S. citizens or residents as shareholders. LLCs can have an unlimited number of members, including non-U.S. citizens and… Read More