Businesses sometimes arrange what are called “golden handcuffs” or “golden handshake” agreements with key managers to reward loyalty and promote retention. A golden handcuffs strategy can make a management position so attractive it would be financially irresponsible to walk away. The classic golden handcuff arrangement is a “top hat” program — a non-qualified deferred compensation […]
Does your business hire outside workers for some jobs? This could result in significant tax breaks if the workers are properly classified as independent contractors rather than employees. The key point is this: If a worker is an employee, your company must withhold federal income and employment taxes from his or her wages. Your business also is […]
In evaluating investment real estate, the ratio of the first year net operating income of a property relative to its purchase price — otherwise known as the “cap rate” — offers a useful and quick measure of a property’s financial performance. As a rule of thumb, some investors tend to correlate above market cap rates […]
When asking the age-old question, “How do you eat an elephant?” think about the answer. “One bite at a time.” Challenges can seem overwhelming when presented as a whole component. Breaking a task down into bite-sized pieces offers a much easier way to achieve a goal or change circumstances. The same holds true for health […]
We keep hearing about the mobile revolution. But what does that mean? More importantly, what does it mean to your business? The mobile revolution is simply that: a revolution in the way we interact, shop, search, live and grow. This isn’t something that might or might not happen. It’s already happening — and fast. We’re […]
The Smiths are in their 50s and remain employed. They’ve always worked hard, consistently earning a good living while shepherding their three children through the “growing up” minefields. The couple has accumulated savings in liquid investment accounts as well as two well-managed individual retirement accounts. The IRAs aren’t as large as the savings investments because […]
We lead at home, at work and in our community. We lead by example through the act of living our lives. Our team members watch. Our kids watch. Our significant others, friends, extended family and people we don’t even know watch us for guidance on how to navigate successfully through work and life. Effective leadership […]
Many small businesses face a struggle to rebuild after recent flooding in Colorado. In terms of economic losses, the September storms will be remembered as one of the largest natural disasters in Colorado history. Many businesses, particularly those in the hardest-hit areas of the Front Range and Eastern Plains, were caught off guard by the […]
If human resources and diversity professionals want to get their organizations behind workforce diversity and inclusion initiatives, they must make a strong business case for them. It’s not enough to simply argue, “It’s the right thing to do.” Professionals must show how these efforts will offer competitive advantages and drive profitability and sustainability. The Western […]
Mention accounting and some people want to shut down their brains and fall asleep. That’s unfortunate, especially for small business owners, because accounting is actually not only interesting, but also essential. Accounting offers a tool with which business owners, managers and others can gauge success as well as identify areas that need attention and improvement. […]