Firing someone in a big corporation is hard enough. In a smaller company, it can be a very personal issue. And if you do a bad job handling the firing of an executive in a close-knit company, the results can be disastrous. It’s difficult to get rid of a longtime — but no longer effective —...

When you hear the term “direct deposit,” you may think about payroll but that is not the only way businesses can use this time and money-saving service. What about the checks you write for expense reimbursements or commissions? If you operate a corporation, how about depositing the dividend checks of shareholders into the bank accounts of...

One of the most effective and inexpensive ways of building employee loyalty is to hold regular outings and get-togethers. By holding staff gatherings, you build loyalty and form bonds outside the workplace. Plus, you get a major tax break. You can hold a staff party at a restaurant or treat your entire staff and their families...

Okay, this year is looking to be different than what we have been expecting over the past years. Obviously, I am merely speaking from my vantage point; after being involved in audits, sitting through board and annual meetings, visiting with you managers and our partners who are involved in your audits. What we expect to...

Before your salespeople hit the streets, help them analyze prospects based on some key factors. That way, they can use their time more efficiently and close more sales. Here is a simple numeric rating system: Does the potential customer perceive a need for the product? ·  Customers who get along fine without your product and don’t...

There are instances when you can write off interest on personal loans used for business purposes, such as injecting capital into an S corporation, multi-member LLC, partnership or C corporation. But keep in mind that interest expenses must be classified into one of four categories (see box at the bottom of this article for details). Different...