By Jeff Drummonds, Partner-in-Charge of Tax Services
As of March 11 at the American Payroll Association’s Capital Summit in Washington, D.C., the Internal Revenue Service was close to finishing its National Research Program audits of employment tax returns.
Results are not yet in. However, the IRS has identified several issues of concern, including tip reporting, worker classification and the reporting of fringe benefits. read more »
By Allen Hovious, President, LBMC Planning Services
There is a simple and direct evaluation tool that I give to my clients to help them assess the overall health of their organization. You can use this tool to diagnose your company and learn where you would benefit most from strategic investments of time and energy. read more »
As Congress always seems behind these days, it is not surprising that the American Taxpayer Relief Act of 2012 was signed into law on January 2, 2013. For many taxpayers the new law will look much like the old law, but for many others the new rules promise nothing resembling “relief.” Indeed, the new law means higher taxes - much higher taxes - for high income taxpayers. But as 2013 draws to a close there are still some opportunities to reduce your 2013 tax bill and plan ahead for 2014. read more »
March 31, 2014 is the last day to register and attest to demonstrating meaningful use for the 2013 Medicare EHR Incentive Program. Medicare eligible professionals must successfully attest by 11:59 p.m. Eastern Daylight Time on March 31, to receive an incentive payment for your 2013 participation.
CMS recommends submitting your data as soon as possible during non-peak hours to avoid system delays due to the large number of providers attesting. read more »
Employees generally hate change. Whether it's a merger or restructuring, or a simple change in the color of the office, studies show that staff members and even 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 that new procedures or equipment make it more difficult to do the same tasks or increase their workloads. read more »
Thank you in advance for taking the time to participate in the 9th Annual LBMC Strategic Staffing Middle and East Tennessee salary surveys. We are excited to bring you this valuable tool at no cost and look forward to sharing the final results with you. read more »
Drop doing the old-style employee appraisal. In its place install an employee achievement plan system. In an achievement plan system, supervisors don't do something toemployees. Instead, each employee -- with assistance and input from the supervisor -- drafts a personal performance achievement plan. This is a plan that the employee will implement in the coming year.
Performance Achievement Plans, in place of traditional employee evaluations, work best when they are an integral part of an employee achievement workplace culture. read more »
Many business owners procrastinate putting a well-conceived succession plan in place. The reasons are understandable. It can be difficult to plan for your replacement and deal with your mortality.
Here are five of the top reasons why business owners don't have an exit strategy, along with the reasons why it's best to make a proactive plan. read more »