What You Need to Know About Business Meal Deductions
This article discusses guidance on the Tax Cuts and Jobs Act pertaining to the general deduction of business entertainment expenses. Because of the guidance put out in 2020, “Taxpayers…must carefully follow the rules set out in the final regulations for substantiating business food and beverage expenses to ensure a deduction is allowed for the …
Amazon Launches New Hub Creating More Than 2,000 Jobs
This article discusses groundbreaking news out of the Cincinnati/Northern Kentucky International Airport that Amazon Air launched an air cargo hub at the location. The $1.5 billion investment will create thousands of jobs that include management, robotics technology, and load planning. This effort is designed to more efficiently “meet the needs of its growing customer …
Succession Planning Strategy for Your Business
Too often CEOs of a company will procrastinate the succession of their company to the next generation. This may happen since the idea of retiring from a business can be too difficult to embrace. Another reason is if the CEO decides to hand off the reigns to the family, there will be a dispute …
How U.S. Farmers Have Remained Resilient Through the Pandemic
This article discusses the industry that might have been disrupted the most by the coronavirus pandemic, the agricultural industry. Although the industry has been slipping since 2015, the pandemic has only highlighted the difficulties the industry is facing. For example, an increase in total delinquency on farm loans has been observed. However, improved trading …
Attracting Talent in the Manufacturing Industry
This article discusses a problem that has been witnessed for many years now within the manufacturing industry, filling open positions. Even though entry-level manufacturing jobs offer higher average pay than most, people are still reluctant to work within the industry. Specifically, the article states that “There’s that image of manufacturing beings dark, dirty and …
Tips for Selling Your Business in 2021
This article discusses how the coronavirus pandemic has impacted the way people are purchasing businesses and how business owners are selling. In fact, there’s been a rise in investment activity, and it is expected to continue for the remainder of this year. In order to capitalize on these investments, taking advantage of tips such …
What are the Pros and Cons of Performance-Based Pay
This article is designed for business owners that are considering switching from traditional payment to performance-based salaries within their company. The advantages of this structure are the improvements to the recruitment process, increased employee retention and productivity, and sets clear expectations. However, the cons are that it is risky, can create a negative work …