Category Archives: Business Reports

By Patrice Mastrianni

When we “make the draft” to join a new business team we are pumped up right out of the gate. The rush of mastering new job skills, learning the needs and wants of your teammates, and throwing your ideas in the ring are very energizing …  at least in the first quarter.

As time goes on, we settle into a routine and operate at a steady pace or, in the worst-case scenario, play a critic from the sidelines. Normal game changers, like having to perform tasks not on your job description, tolerating an irritating coworker or dealing with economic ups and downs, deflates our drive in no time.

It’s in every employer’s best interest to make sure their team stays on track and each member is in a position that best fits their skills. It’s the captain’s job to make sure no one sits on the bench and everyone focuses on the same game plan.

Keeping your group driven requires ingenuity and diligence. However, budget restraints and day-to-day business demands can often get in the way of a consistent team-building program. Team exercises can be as ambitious as a full-day golf outing or as small as interoffice games that engage departments or individuals in problem solving, communication and collaboration.

By Kevin M. Hedley, MS, CPA, PFS

As is often quoted “Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes.” (Benjamin Franklin, 1789)

With that said, this year is certainly no different. The uncertain part is of course how much if at all our taxes will change this year with a new administration.

President Trump has discussed some new personal tax rates. His suggested tax rates and breakpoints for married-joint filers would be: Less than $75,000, 12 percent; more than $75,000 but less than $225,000, 25 percent; and more than $225,000, 33 percent. Brackets for single filers would be half of these amounts. These three rate brackets would replace our current seven rate brackets which go as high as 39.6 percent.

In addition to the changes in rates he has also called for some other drastic changes including, but not limited to: the Affordable Care Act, 3.8 percent tax on investment income would be repealed; the alternative minimum tax (AMT) would be repealed; the standard deduction for joint filers would increase to $30,000 and the standard deduction for single filers would be $15,000; Personal exemptions would be eliminated; head-of-household filing status would be eliminated; itemized deductions would be capped at $200,000 for married-joint filers and $100,000 for a single filer; standard corporate tax rate would be reduced to 15 percent from the current 35 percent.

BY JEANNINE DUBIAC, FPC

For many business owners, payroll taxes can be confusing and overwhelming.

Payroll doesn’t stop with just issuing checks. Compliance with federal, state and local agencies can be a time-consuming responsibility, requiring detailed record keeping and up-to-date compliance with the ever changing tax laws.

Calculating the employees’ withholdings and determining the employer taxes is just one small piece that a payroll service offers to small businesses. The payroll service becomes the responsible party for maintaining all payroll tax requirements on a consistent basis.

Experienced payroll providers should ensure the job is done right, getting employees paid on time, correctly, every time and allowing the business owner to focus on running their core business.

Payroll services save businesses money by eliminating their tax liability and potential penalties. They provide detailed information regarding tax payments and employee wages to your CPA.

By Christopher W. Meyer President-elect Donald Trump recently observed that no computer is safe from hacking and that the only way to securely convey information is to deliver it by courier.  While experts agree that no computer system can be made 100 percent safe, they also have pointed out that “old fashioned” methods of...

By Rob Snell

Now that we are in the heart of the holiday season, you may be thinking about ways you can put your money where your heart is.

Specifically, you might be pondering which groups you should support with charitable gifts. And as long as you choose groups that meet the right criteria, your generosity can also be rewarding to you, in the form of tax benefits.

To begin with, you’ll want to make sure you are giving to a reputable charity. That means you’ll need to ask some questions.

by Michael Cruz

It’s all about habits. The way we eat is established by patterns or habits. So, after the diet we go back to our established patterns. And guess what? We gain back all, and sometimes more of the weight we lost.

The same is true when we try to change something in our business life. Did you know that it takes at least six months to change an established pattern or habit? And that is why we often fail to be consistent in new business habits.

Michael D. Billok is an attorney with Bond, Schoeneck & King.

Courtesy Bond, Schoeneck & King PLLC

By Michael D. Billok, Esq.

As a business owner or operator, there are always a half-dozen items that require your immediate attention, and then the dozens of other items on the “back burner” that you would like to get to when there is time–but there never seems to be time available.

Unless, of course, a back-burner item “blows up” and becomes a front-burner item, now requiring your immediate attention.

For small and mid-sized businesses, cybersecurity routinely is one such back-burner item, not getting the attention it deserves unless something does “blow up,” for example there is a hack, a data breach or some release of employee or customer personal information that now requires immediate attention. This is due to several common misconceptions about cybersecurity, such as:

• I’m small. I won’t be hacked or compromised. False.

Larger organizations have spent the past several years improving their cyber defenses to make it more difficult to access their data. As a result, hackers look to smaller organizations with less resources available to buttress their defenses as a jumping-off point to access larger organizations. Remember the national-news data breach at Target that occurred two years ago? Hackers didn’t directly “target” Target. They first hacked into an HVAC subcontractor’s network, and after compromising the subcontractor’s system they were then able to hack into Target utilizing the subcontractor’s access to Target’s network.

Craig Stephenson, administration, compliance manager, Tech II Business Services Inc.

Courtesy Tech II Business SErvices

By Craig Stephenson

Virtually every employee today has a smartphone. Many also have tablets, such as iPads and android devices. Most businesses are under utilizing these devices, because in most cases they belong to employees. These devices are BYOD, “bring your own device,” as they say.

Your hyper-connected employees are glued to their mobile devices, and savvy business owners and executives have realized the secret to higher employee productivity is embracing mobility and the BYOD trend. Find ways to help your staff work more, work smarter, and serve your clients better. The key is to empower the mobile experience of your staff, without compromising security and control of your corporate data.

Business-class file sync services can give you the best of both worlds however you need to be aware that all cloud services are not alike. One of the most popular cloud services has been hacked more than once and for those in the medical and financial industry, may find the compliance lacking. However Tech II Business services Cryodrive can allow your corporate data to be synced to employee mobile devices, without giving up control of your corporate data and remaining HIPAA compliant. Here’s how:

1. Sync to smartphones. Business-class cloud file sync services allow employees to sync their critical work files between their desktops, laptops, smartphones, tablets, and the cloud.

Your staff becomes more nimble and productive when they have their files at their fingertips, no matter where they go. Whether it is iOS, android, or Windows Phone, business-class sync keeps users connected on the go.