The decision to close a business's doors for good is never an easy one. However, it's important to keep abreast of compliance requirements before you say goodbye. That's why you should take time to visit the closing a business page of IRS.gov. It's designed to help you navigate the process of shutting down. It includes guidance on: What forms to file. How to report revenue received in … [Read more...]

Are you rethinking your workforce strategy? The pandemic drastically changed markets. Many businesses closed in 2020, others retrenched and still others boomed. As you address your company's needs, are you wondering if you have enough workers to operate effectively? How to Rightsize Your Company Rightsizing is the process of making a company a more functional size. It's often treated as a … [Read more...]

Reimbursing your employees for work-related expenses is nothing new, but the practice was primarily limited to on-site employees. However, with the arrival of COVID-19 and the pandemic that forced people into an unparalleled shift toward the remote-work lifestyle, the question of whether or not remote employees should be reimbursed for their business expenses is gaining attention. According to … [Read more...]

Is your nonprofit subject to the Fair Labor Standards Act (FLSA)? Because nonprofits fall into a special category, the answer isn't a simple yes or no.  Fortunately, the Department of Labor has provided guidance in this area. In brief, says the DOL, there are two ways in which an employee can be covered by the Fair Labor Standards Act and therefore entitled to its protections: enterprise coverage … [Read more...]