Internet Security Video - Drive-by Downloads
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Davidson County - Lower Your Real Property Taxes Deadline September 1, 2010
Flood
Loss Victims
Did your home, business buildings or land have major damage from the 2010
floods? If so, then you can ask for a review of your property tax assessment.
If the value of your home or business has gone down, you will pay less tax.
Davidson County residents can ask for a review by September 1, 2010. read more »
How CFOs Think About Risk Management, or Should
In today’s world, the impact of a poorly executed risk management strategy falls squarely on the shoulders of the CFO. Risk management is more than simply recognizing a potential risk and guarding against it. Indeed, to understand the risk portfolio of a company, one must think of it not only in terms of financial risk, but also operational and reputational risks. Risk is enterprise-wide.
There are three core risks which must be addressed: read more »
If you can't afford to offer employee benefits on your own, why not join forces with a PEO?
In the late 1990s, Seth Miller was looking for a way to provide better benefits at Miller Systems Inc., the small Boston IT consulting company he founded in 1995. "We just couldn't get dental insurance being the size we were," says Miller, 32. "But to compete for the best people, we needed to have big-company benefits." read more »
Creating a "People Strategy" for Your Business
Hiring the right people and managing them well is essential to your business' success. Here are 6 tips for developing an effective HR strategy.
Many entrepreneurs will admit they're great at producing their product or providing a service, but they aren't natural-born managers. There's no shame in that—entrepreneurs are a breed of their own. But without an effective people strategy in place, you run the risk of joining others who had a great idea but—like a bad golf swing—had no follow-through. read more »
FUTA Tax Credit Reductions
The Unemployment Insurance or UI Trust Fund is primarily financed by employer taxes levied on each states taxable wage base. Additionally, employers pay a Federal Unemployment Tax Act (FUTA). The FUTA rate is 6.2% on the first $7,000 of each employee’s annual wages. If the employer’s state program is in compliance with the federal requirements, they receive a tax rate credit of 5.4% which gives us the .8% rate (or a maximum of $56 per worker) that most employers are familiar with. read more »
PEOs Eliminate an Employer's COBRA Administration Nightmare
Federal extension creates an administrative nightmare. Employers must notify laid-off workers or face penalties. read more »
Employee Spotlight – Terri Mangrum
This month we would like to take the opportunity to introduce you to our Flexible Benefits Plan Administrator, Terri Mangrum. Terri has worked with the LBMC family for the past 15 years. She initially began her career with Lattimore, Black, Morgan, and Cain, PC and LBMC Employment Partners Benefits Groups before joining LBMC Employment Partners. Terri provides the administration of medical Flexible Spending Account (FSA) plans, dependent care FSA, health reimbursement accounts, and other qualified flex benefits. read more »
Shop Tax Free in Tennessee August 6-8
August Sales Tax Holiday Provides Big Savings for All
Tennesseans read more »
Employers Cite Problems with Intermittent Family and Medical Leave Benefit
Employee abuse of the intermittent leave benefit is the top complaint of employers that are subject to the Family and Medical Leave Act (FMLA), a recent survey of 450 WorldatWork (WAW) members found. More than two-fifths (42 percent) of the human resources management respondents cited this problem. The survey was sent electronically to 12,080 WAW members and posted on the organization’s Web site, after the Department of Labor released proposed amendments to FMLA regulations on February 11, 2008. read more »
A Pet Projects Program Can Make Good Use of Extra Time
When it comes to the average eight-hour work day, most employees will tell you there’s usually a lull in their day that they spend surfing the Internet, checking their e-mail or making phone calls to check on the family.
Employers can make good use of their employees’ "extra" time by creating a Pet Projects Program at their company. read more »
How to Become a Destination Workplace
People will want to work for you when you create the right corporate culture.
Every business should strive to create a positive corporate culture. But developing a culture that attracts, retains and motivates quality employees doesn't just happen by accident—it requires a plan. You can start by asking yourself what kind of workplace you want. To help you define your desired workplace and shape your corporate culture, focus on these four points:
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Employee Spotlight - Angie Hoffman
This month we would like to take the opportunity to introduce you to our Payroll Tax Specialist, Angie Hoffman.
Angie joined LBMC Employment Partners in 2002 as a Payroll Specialist. In October of 2009, Angie took on a new role as our Payroll Tax Specialist. In this position she handles daily tax payments, processes tax returns for clients and agencies, and resolves tax issues. read more »
Rethink Your Drink
During the hot summer months, how you
quench your thirst can be the difference between
keeping yourself hydrated or getting sick from
dehydration. The human body is 50-70% water
depending on your age and gender so it’s no
wonder that you need to drink water (or beverages
that can substitute as water) to help keep you
going all summer long. read more »
Using Over-the-Counter Medications
Over-the-counter medications provide a convenient and affordable way to treat pain or a pesky ailment. The convenience of going to your local drug store and buying a bottle of aspirin or cough syrup can be a more appealing choice than making an appointment with a doctor. However, safe use of over-the counter medications requires common sense and responsibility. read more »
The Rise After The Storm
After a nearly continuous upward
climb from March 2009 through April 2010, stocks
experienced a significant downturn in May and June and
finished the quarter well into the red. A variety of
events – from Eurozone debt fears to the “Flash Crash”
in early May to disappointing economic data at home –
stoked investor anxiety and led all of the major stock
read more »
Tax Relief Available to Individuals Affected by Flooding
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Post-Disaster Tax Rules Can Provide Needed Cash
Thanks to May’s flood, many businesses are struggling with cash flow issues. One way to address them: taking advantage of special tax rules that kick in after a disaster. Here are some key areas where a tax adviser might be able to help:
read more »
Flexible Schedules are Employees' Most Prized Summer Benefits, Survey Says
Flexible schedules (38 percent) and leaving work early on Fridays (32 percent) are the most coveted summer benefits, according to workers polled by OfficeTeam. “Employees appreciate flexibility in their jobs because it gives them greater control and enables them to handle other commitments without sacrificing their work performance,” said Robert Hosking, executive director of OfficeTeam. The survey is based on telephone interviews with 457 workers 18 years of age or older and employed in an office environment. read more »
Help Employees Realize Value of Benefits Before They're no Longer Available
Helping employees recognize the value of their company-sponsored benefits is always smart and beneficial; doing so during tough economic times is imperative, according to Jennifer Benz, founder and chief strategist of Benz Communications. "Nothing better illustrates the value of company-offered healthcare plans than COBRA - especially now with all the media attention surrounding the 65 percent COBBRA subsidy passed by Congress to help newly unemployed Americans afford the level of benefits they had while employed," said Benz. read more »
HIRE ACT Tax Credits – What you should know about “double dipping”
The Hiring Incentives to Restore Employment or HIRE Act has brought about new credit opportunities for employers. The business tax credit and the social security tax relief are separate, and employers can claim both for the same employee. However, there are further clarifications that should be carefully addressed. The IRS wants to make sure that employers don’t “double dip” on other credits. Review of which credits are most beneficial may be prudent. read more »
Study Examines Dangers of Texting and Driving
A recent independent study reviewed the causes of the most costly work-related accidents for salespersons. Topping the list were motor vehicle crashes. Also, these crashes accounted
for the most frequent type of claims. Distracted drivers played a key role in a number of these accidents. read more »
Becoming a Consumer of Your Healthcare
If you have a High Deductible Health Plan (HDHP), you most likely have caught a glimpse of the “true” cost of healthcare. Prescriptions and office visits are no longer just the price of a co-pay; HDHP plan members pay the price outlined in the provider’s contract with the insurance company for drugs and appointments. Many traditional (non-HDHP) plan members pay the co-pay for the prescription or office visit and don’t even think about the actual cost of the medicine or service; to the traditional plan member, the cost of the drug or service is the co-pay. read more »
Employee Spotlight - Bobbie Ward
This month we would like to take the opportunity to introduce you to our Office Administrator, Bobbie Ward. Bobbie has 35 years of experience in administrative support roles; systems analysis; and office management with an extensive background in systems and system design support. read more »
The Price of a Delay
When you hear about delays, the usual context is a planes, trains and automobiles saga of missed connections that is only funny if it happened to someone else. In finance, delays around audits or tax filings can mean fines, penalties and larger than normal fees for necessary work.
For Nonprofits read more »
Statistical Analysis: Your Fraud Early Warning System
Despite implementation of the Sarbanes-Oxley Act of 2002 and
other regulatory reforms, fraud remains an enormous problem for
U.S. companies. In the Association of Certified Fraud Examiners’
(ACFE’s) 2008 Report to the Nation on Occupational Fraud & Abuse,
survey participants estimated that companies lose 7% of their
annual revenues to fraud — up from 5% two years earlier. (ACFE
was preparing its 2010 report at press time.) read more »
Does Your Company Meet PCI DSS Credit Data Security Requirements?
Contrary to popular belief, the Payment Card Industry Data Security Standard (PCI DSS) isn’t only for companies that process a lot of credit card payments. PCI DSS establishes minimum requirements for securing sensitive cardholder data, and even one transaction is enough to compel compliance.
The penalties for noncompliance can be severe. They include fines, loss of card-processing privileges and civil damages in the event of a breach. Companies are, therefore, strongly encouraged to review the PCI DSS framework and ensure their organizations meet its requirements. read more »
Building a Better Audit - New Standard Requires Additional Quality Review
Earlier this year, the SEC approved a new standard designed to improve audit quality of public companies. Public Company Accounting Oversight Board (PCAOB) Auditing Standard No. 7,
Engagement Quality Review (AS7), requires more robust concurring or second partner reviews of
audit engagements and interim reviews. It applies to fiscal years beginning on or after Dec. 15, 2009.
Second audits? read more »