Bi-Weekly Business Bullet
THIS ISSUE'S NEWS THEME:
Small business tips
Twelve ways small business owners can ensure their best employees never want to leave
Every entrepreneur knows the hectic lifestyle that comes along with starting and running a company. And since your employees make or break your business, you must keep your best ones around.
State and Federal Enterprise/Empowerment Zone tax breaks extended
Federal Work Opportunity Tax Credits now cover 18 - 39 year-old employees hired by businesses located in Renewal Communities, Empowerment Zones, and rural renewal counties under legislation passed recently in Congress. Many states have also extended their location-based Enterprise Zone tax benefits.
Succession planning for solo business owners
When you're the sole employee of your own company, you are the company, from CEO to receptionist. While that keeps costs low and affords considerable operating flexibility, flying solo makes succession planning problematic at best.
Offering benefits reduces employee turnover in small businesses
According to a survey by the Office of Advocacy of the U.S. Small Business Administration, while job tenure is longer at larger firms, offering benefits reduces the probability of employees leaving jobs at any firm.
Treasury, IRS issue new proposed cafeteria plan regulations
The Treasury Department and the IRS have issued new proposed regulations for employee benefit plans, known as "cafeteria plans," under Section 125 of the Internal Revenue Code. The new proposed regulations generally preserve the rules of the existing proposed regulations, while adding clarifications relating to statutory changes and administrative guidance changes since the previous regulations were published.
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Hot Topics
Bonds' homer ball creates tax controversy
Starting accounting salaries rise 2.3 percent
Top business schools face off in MBA Challenge
Reverse mortgages are gaining ground
Treasury conferees agree corporate tax must be overhauled
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Editor's Note
This week, we're featuring some articles that contain useful
information that might help accountants better serve their
clients, as well as improve their own practices. From employee
retention and benefits to tax breaks to succession planning,
this week's top stories offer a little something for everyone.
As always, we encourage you to forward our links to your
clients - the e-mail version of sending clippings in the mail.
And be sure to check the Hot Topics link on AccountingWEB
regularly to see what your colleagues are reading and offer
your own comments. Currently, there's quite a bit of controversy brewing over the proper tax treatment for the Barry
Bonds homerun ball. Taxable or not? Now or later? What do you think?
Gail Perry
Editor
editor@accountingweb.com
P.O. Box 2252, Westerville, OH 43086-2252
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