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As Baby Boomer business owners approach retirement, planning for the future of their businesses becomes crucial. Succession planning is not just about finding a successor; it’s about ensuring the continuity and success of the business you’ve built. Here’s how you can prepare for a seamless transition. Start Succession Planning Early Initiating the succession planning process …
How to Ensure a Smooth Transition When Succession PlanningRead More
The U.S. Department of Labor (DOL) announced on Jan. 9, 2024, the issuance of its final rule regarding whether a worker is an employee or an independent contractor under the federal Fair Labor Standards Act (FLSA). The new rule, which becomes effective March 11, 2024, rescinds the 2021 independent contractor rule issued under former President Donald Trump. …
New Employee vs Independent Contractor Rule Effective March 11, 2024Read More
Ready to learn about Beneficial Ownership Information (BOI) Reporting rules that start January 1, 2024? In the ever-evolving landscape of business regulations, the Corporate Transparency Act (CTA), passed as part of the National Defense Authorization Act for Fiscal Year 2021. The Act introduces new reporting requirements for businesses in the United States; specifically focusing on …
NEW – Business Beneficial Ownership Information (BOI) Reporting Starts in 2024Read More
Looking for tips to help boost your success for your gig enterprise? You’re not alone! According to one recent study, workers who make up the “gig economy” contributed roughly 5.7% to the gross domestic product of the United States in 2021 alone. This growth signifies a significant shift in the way that we all collectively …
Best Practices To Help Guarantee Success For Your Gig EnterpriseRead More
Have you taken a good, hard look at your bookkeeping habits lately? The beginning of the year is a perfect time to consider brushing up your bookkeeping habits. Ever found yourself shaking your head at your own process? The beginning of the year is the perfect time to correct inefficiencies and counter oversights. There’s no …
Adapting to remote workers has been the greatest challenge for businesses, especially managers, in 2021. According to one recent study, nearly half of all employees switched to working remotely in 2020 during the onset of the COVID-19 pandemic. Almost overnight, local and state lockdowns went into effect on all services deemed non-essential. This means that …
Businesses Facing Challenges as They Adapt to Remote WorkersRead More
Need to know more about medical practice financing? This guide should help! Whether you are a physician with a well-established medical office, or you’ve just completed your residency and are starting out, obtaining funding for a medical practice is different from applying for a standard business or personal loan. While the differences do not mean …
Everything You Need To Know About Medical Practice FinancingRead More
Here are a few starting tips if you’re just starting out as a new business owner. If you are considering diving into the world of entrepreneurship, it’s wise to give yourself a moment and take some time for planning before moving forward. Additionally, to ensure that you’re proceeding with care and caution, be sure to …
A joint venture is when multiple business entities start a new business together as a cooperative arrangement. When creating a joint venture, each of the involved entities agrees to what assets they will contribute, how they are going to distribute income and share expenses, and how the new entity will move forward. Owners need to …
