Use Benchmarking to Swim with the Big Fish
You may keep a wary eye on your competitors, but sometimes it helps to look just a little bit deeper. Even if you’re a big fish in your pond, someone a little bigger may be swimming up just beneath you. Being successful means not just being aware of these competitors, but also knowing their approaches and results.
Watch out for Identity Theft
As there are more and more data breaches affecting consumers, identity theft issues area at an all-time high. It is the number one complaint reported to the Federal Trade Commission. Judging from recent news reports, this doesn’t seem to be getting any better.
Work Opportunity Tax Credit
The Work Opportunity Tax Credit, or WOTC for short, is a somewhat complicated tax credit. Basically, a tax credit exists when a business pays wages to employees that are part of a qualified group. The obvious question is what makes an employee part of the qualified group?
Cost Segregation Study
A cost segregation study looks at a building or piece of property and segregates the total cost into portions with shorter depreciable lives. This optimizes depreciation resulting in substantial cash flow benefits. In general, a building is classified as 39 year property.
Should I Record Interest Income On My ESOP?
No. Nothing really happened. The company makes a contribution of $XX, which is paid the ESOP. The ESOP turns around a pays the Company $XX for principal and interest. The checking account did not change. The expense the company needs to record is the actual value of the shares released to participants.