Tax expert shares insight business owners should consider
January 9, 2017
With the constant changes in tax laws, Brian McCuller, shareholder-in-charge of the tax practice at Tennessee-based LBMC, has created a list of key changes in tax laws business owners should consider as they finalize their planning for 2017.
With the election of Donald Trump as the 45th president of the United States, the business community can almost certainly look forward to a new era. Although many of Trump’s policies on labor and employment-related laws and regulations have yet to be fully developed, there are many Obama-era initiatives that could face significant changes under the new Republican administration.
A commodity approach for manufacturing is good. On the other hand, a commodity approach for marketing is bad. If the consumer views your product as a commodity, your product is just the same as anybody else’s product, and the consumer buys on price alone. The key is to differentiate yourself.
In just a few days millions more American workers will be eligible for overtime, thanks to a new U.S. Department of Labor (DOL) rule that takes effect on Dec. 1. And the estimated 4 million workers who become are just the beginning — every three years, the pay levels will automatically update.
Major natural disasters, like hurricanes and storms, can cause significant financial damage to businesses, often leading to a temporary shutdown, or even putting them out of business altogether. Because natural disasters can’t be prevented or anticipated, planning for them is crucial.
For employers with a union workforce — or a workforce that could unionize — complying with the National Labor Relations Act is an ongoing headache. That headache will only intensify thanks to the National Labor Relations Board (NLRB), the federal agency responsible for regulating labor law.
In reading a recent article by The NEWS’ long-time refrigeration columnist, Joe Marchese, titled “Ice Breaker: Do It Right - Clean, Dry, and Tight,” I realized that two out of three of those items apply to advertising. Clean and tight are essential to do it right.