Creating a new employee retirement plan could mean a tax credit
If you have been considering creating a retirement plan for your employees, you should know about a valuable tax credit that is available. Employers may be able to claim a tax credit for some of the ordinary and necessary costs of starting a SEP, SIMPLE IRA or qualified retirement plan. The tax credit is 50 […]
Don’t let ‘ghost assets’ haunt your bottom line
It’s that time of year to clear away old equipment from your financial statements so you are not haunted by unused and out-of-date equipment that can suck the life out of your bottom line. Unused equipment is commonly referred to as a “ghost asset.” Ghost assets are fixed assets that remain on the financial statement […]
Time to begin year-end payroll planning
Preparations are underway for numerous holiday events and outings, but for small business owners, other year-end activities take center stage. The following are some steps that must be taken by business owners who handle their payroll functions in-house: Have employees confirm their address and Social Security numbers. Use the Social Security Administration’s Social Security Number […]
Financial hardship? Your retirement plan is an option
Employers often offer their employees a retirement plan as a part of their benefits package. Since these funds are to be invested for use upon retirement, they are largely untouchable until later in life. However, sometimes real life gets in the way of a well-laid plan. The IRS does make provisions for early distributions from […]
Are you financially ready for EOTF upgrades?
McDonald’s owner/operators are facing some of the most significant changes to their business than at almost any other time. McDonald’s is pursuing a historic upgrade to all its restaurants – starting with the Major Remodel Program and capped off with the Experience of the Future that requires infrastructure investments geared toward changing technology, customer experience […]
Assess the value: Are you paying too much property tax?
Property tax: a hidden – but significant cost – to any business owner. According to information provided recently by one industry expert, commercial property taxes constitute about 40 percent of occupancy costs. This is compared to income tax, which is generally 4.5 percent of the cost of occupancy, and sales and use tax, which comprise about […]
Managing a McDonald’s Major Remodel Program
It’s not so much a question of “if” as it is “when” to embark on a major remodel program at your business. With its Vision 2020 well underway, McDonald’s is aiming to have 85 percent of all restaurants modernized and updated with the latest look and latest technology by the end of 2018 to fulfill […]