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Small Biz is Everybody’s Biz

Small Biz is Everybody’s Biz

All too often, we take local shops in our communities for granted and only realize their value when one day we notice they’ve closed their doors. Were it not for the dedication, passion and commitment of today’s small business owners and their families, the warm feel of downtown areas would be lost forever. Small businesses also create a significant number of job opportunities and boost the economy of their communities. Did you know that small business owners alone added more than 680,000 jobs to the U.S. economy so far this year, according to data from the ADP Research Institute®? In addition, the most recent report from the Small Business Administration published in June 2015 showed that small businesses with up to 49 employees contributed the most to job growth in 2014 by generating 39 percent of net new jobs. This compares to 34 percent by firms with 50-499 employees and 27 percent by firms with 500 or more workers. It takes long hours, tremendous commitment, and incredible tenacity to...

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Time Off, ACA Regulations and Your Small Business Clients

Time Off, ACA Regulations and Your Small Business Clients

John Haslinger, Vice President of Strategic Advisory Services recently caught up with Taija Sparkman, Assistant Editor of CPA Practice Advisor while they were both at the Midwest Accounting Show, in Chicago, IL on August 23. They discussed how the Affordable Care Act continues to be a challenge for many business owners and how, as a trusted advisor, accountants can help them better understand this complex regulation and its IRS reporting requirements. “There is a real opportunity for accountants to be more consultative in how they approach the ACA with their clients. ACA compliance is a huge burden for businesses with less than 200 employees and they may not have the same resources as larger corporations. By differentiating in services for small businesses and knowing who the key players are in the field, accounting professionals have a real opportunity to provide value-added service to their clients,” said Haslinger. To learn more, read: Time Off, ACA Regulations and Your Small Business Clients Share this:Click to email (Opens in new window)Click to...

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How Can Startups and Entrepreneurs Compete in the War for Talent? With a PEO

How Can Startups and Entrepreneurs Compete in the War for Talent? With a PEO

It’s no secret that starting and running a small business is no small feat. Business owners are often pulled in what feels like a million directions — striving to ensure the business is growing, clients are happy, and that they actually get to sleep at night (or at least some nights!). But if you ask many entrepreneurs, they will tell you the one thing they never imagined would be so hard was managing their employees (even if they only have two) and providing the HR and benefits today’s top talent requires. As the workforce continues to undergo significant generational shifts and increasing competition in the war for talent, startups – by sheer nature of their size — are faced with challenges in delivering the attractive benefits that come more easily to larger organizations. As a result, working with a Professional Employer Organization (PEO) is a popular option that many entrepreneurs are considering. ADP TotalSource®, the largest PEO in the United States with more than 400,000 worksite employees, has traditionally...

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Winning the War for Talent: BDG CPAs Shares their Challenge – and Their Insight

Winning the War for Talent: BDG CPAs Shares their Challenge – and Their Insight

“You feel that, when your head hits the pillow, you’re doing the best by your employees.” –Neil Della Torre, Founding Partner, BDG CPAs. The accounting profession, like many industries, is currently undergoing a “workforce revolution” where many in firm leadership are taking a close look at their culture and employee engagement techniques. Why? Because they recognize the critical need to combat an industry talent shortage driven by a steady stream of retiring Baby Boomers exiting the accounting business. To fill the void, CPA firms like Becher, Della Torre, Gitto & Company are looking to attract Millennial talent. But we are seeing that the priorities and values most important to this rapidly changing workforce have shifted substantially. Specifically, the demands of Millennial employees have moved away from high salaries to priorities such as work/life balance and benefits that are offered. “Our firm model is to recruit students that could go with a ‘Big Four’ firm. ADP TotalSource® makes our firm more competitive in the market place for staff accountants as...

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Payroll as Pain vs. Payroll as Pleasure: A Chat with Andrews and Company

Payroll as Pain vs. Payroll as Pleasure: A Chat with Andrews and Company

Ask any business owner and you may find that one of the first things they did when starting their business was retain the services of an accountant. Such a partner isn’t there just to help with taxes, but to serve as a trusted advisor who can provide solid advice on managing cash flow, planning for growth, assessing risk and, in many cases, helping with payroll and other HR activities. Because of the advisory nature of their relationship with clients, accountants today have a lot more on their plates than they ever did before. In fact, with the onset of the Affordable Care Act, recent changes to the Fair Labor Standards Act, and ever-changing payroll regulations, I’m seeing that many more small to midsized accounting firms (with five to 15 employees) are thinking about referring out their payroll business or stepping away from offering payroll services completely. The reasons they’re citing? Lack of time and the complexities of keeping up with payroll tax changes and other related compliance issues. Accountant...

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