It’s personal now: Introducing Personal Bill Pay service
Antares Group is excited to announce a new service offering that can provide peace of mind for the busy professional or the entrepreneur who has sold their business and is now retired. Just like our Back Office Solutions services for businesses frees up our clients to focus on their business instead of on their bookkeeping […]
Rehiring retirees is now an option for addressing labor shortage
Nearly every business owner is feeling the pinch of the tight labor market but one option to consider is rehiring retirees or retain those employees who are past retirement age. Retaining long-term employees with a trusted track record and knowledge of your business can be a tremendous benefit, but this has not always been a […]
Did you get love mail from the IRS? Don’t panic!
Since March 2020, life has certainly changed for all of us and life at the Internal Revenue Service is no exception. With four tax legislative changes, the issuing of three separate rounds of stimulus checks, and out-of-date technology, who wouldn’t be a little behind? Unfortunately for taxpayers, this service lag can cause some big headaches. […]
Employers: Social Security wage base is increasing in 2022
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for 2021). Wages and self-employment income above this threshold aren’t subject to Social Security tax. Background information The Federal Insurance Contributions Act (FICA) imposes two taxes on employers, employees and self-employed […]
Prime costs key to measure health of your business
Do you know the minimum amount of sales needed to make a profit? Calculating your prime costs is a good benchmark. Prime costs for restaurant owners are the total cost of goods sold plus total labor costs. Cost of goods sold (or COGS) is the combined costs of food and beverage ingredients sold at your […]
How small pay increases can have a big impact
The pressures of labor shortages are hitting restaurant owners especially hard, and many are looking to increase wages to recruit and retain workers. Even little adjustments, though, can result in significant impacts to the bottom line. Below is a good illustration of how increasing the pay of just five employees to $12 an hour can […]
Safe harbor plans are popular in a tight labor market
With the labor market becoming more competitive, employers are looking for new ways to attract and retain good employees. A safe harbor match designed 401(k) plan provides a generous and popular benefit. By opening a safe harbor plan you are investing in your employees’ retirement and incentivizing them to save at the same time. Why […]
Pay will attract, culture will retain
The current labor shortage is proving to be one of the most severe and costly impacts of the pandemic. Economists have indicated that a labor shortage was inevitable due to the aging and retirement of the Baby Boomers, but the pandemic has accelerated it. As we navigate these unprecedented times, employers are looking for creative […]
Think outside the box to attract and retain employees
It is becoming harder and harder to attract and retain good employees. Turnover in restaurants is high but sometimes thinking outside the box and offering more benefits could help with retaining good employees. Many employers already offer the “basic benefits” to their full-time employees, which includes medical, dental, and vision insurance; 401(k) retirement plan; and […]
Do your homework when selecting where to live and work
Reducing taxes is the question on everyone’s mind. While much attention is placed at the federal level due to pending infrastructure legislation, don’t forget that state income tax can play a big role in your overall tax burden. As working remotely has increased, people have more options where they live. Thus, there has been an […]