Boost Profits with These 10 Techniques
They say little things mean a lot. And relatively small expenses can add up to a huge amount of money your company could be wasting. By cutting costs, you can enhance your bottom line in several ways. Here are 10 ideas: Improve cash flow. If your business is seasonal, ask your biggest vendors to let…
Trim Compensation Expenses
For many businesses, payroll is the single largest expense. Just the basics of wages and salaries add up significantly. But it doesn’t stop there. Your payroll costs are increased by about 24% when you add in vacations, FICA contributions, as well as unemployment, workers’ compensation, health insurance and other fringe benefits. And then there’s overtime…
Payment Card Fraud on the Rise Despite Use of Chip Technology
When the major U.S. credit card companies — including Visa, MasterCard, Discover and American Express — agreed to switch to chip-enabled payment cards, many saw it as a way to chip away at billions of dollars in losses from payment card fraud. Unfortunately, more than three years after the major U.S. card companies mandated a…
Is an HSA Right for You?
Health care costs have skyrocketed over the last few decades. Fortunately, health savings accounts (HSAs) allow qualifying individuals to pay for certain medical expenses with pretax dollars. Here is what you need to know to put an HSA to work for you. Healthy Growth Over the last decade, many people have jumped on the HSA…
Get Inspired: Cost-Effective Ways To Improve Retention
Like many other businesses, your company may occasionally endure downturns during which revenues stagnate and your ability to authorize generous raises is compromised. In these situations, you may understandably worry about breaking the news to your workers and nervously anticipate their reactions. After all, you likely have top performers who deserve higher salaries. Let’s look…
Understanding IRS Audit Guidance
IRS examiners usually do their homework before meeting with taxpayers and their professional representatives. This includes reviewing any relevant Audit Techniques Guides (ATGs) that typically focus on a specific industry or audit-prone business transaction. Though designed to help IRS examiners prepare for audits, ATGs are available to the public. So, small business taxpayers can review…
Offer Acceptance Periods: Can You Revive an Expired Offer?
What Happens If an Offer Expires But the Agency Doesn’t Cancel the Procurement? When a contractor submits an offer (a bid or proposal, depending on the type of procurement) to the federal government, the solicitation normally specifies the period within which the government can accept the offer and form a legally binding contract. The acceptance…
Six Keys to Successful Change in the Workplace
Employees generally hate change. Whether it’s a merger or restructuring, or a simple change in the color of the office, studies show both staff members and managers resist. The reactions may seem irrational but change can suggest an invasion of turf. Some employees feel it lowers their status or eliminates privileges. They might also worry…
Beware of Scams Surrounding Long-Term Care Coverage
Studies show a rising number of people will enter a long-term care facility at some point in their lives, often at a younger age than they expect. Many more will require the help of medical personnel in their homes. Either way, the costs range from expensive to insurmountable. That’s where long-term care (LTC) insurance becomes…
When Dollar-Cost Averaging Makes Sense … and Doesn’t
The benefits of dollar-cost averaging (DCA) are generally extolled by market commentators and investment providers. But this well-regarded strategy may not always be the best approach for individual investors.1 What is Dollar-Cost Averaging? Dollar-cost averaging is the practice of buying a fixed-dollar amount of a particular investment on a regular schedule over a period of time….