As expected, the White House has announced a crucial change in the laws that determine who is eligible for overtime pay. Effective December 1, 2016, The Department of Labor will enforce modifications to the Fair Labor Standards Act that will raise the threshold for Administrative, Executive and Professional exemptions from overtime pay. Federal overtime rules […]
Many business owners fail to follow the strict tax rules for substantiating vehicle expenses. But if your business is audited, the IRS will most likely ask for mileage logs if you deducted vehicle expenses — and it tends to be especially critical of the amount deducted if you’re self employed or you employ relatives. While […]
In many companies, employees drive during the course of their jobs — to make deliveries, call on customers or pick up supplies. In some cases, they use their personal cars rather than company cars. This can have several advantages for the employer: The company does not have to maintain a fleet. It does not have to […]
When psychiatrist Mark Goulston asked several successful CEOs to name the single most important key to their success, he expected them to refer to their “vision” or their “mission.” But, independent of one another, the CEOs advised: Recognize destructive no-win people inside and outside your workplace early. Then cut your losses and move on. According […]