Over the past two years, small businesses have weathered a global pandemic, a supply chain crisis, labor shortages, and increasing costs due to inflation. Now, the next hurdle for small businesses lies ahead - a very possible recession. The Current State of Monetary Tightening After having been late to address inflation when it gained momentum last year, the Fed has slammed on the monetary … [Read more...]
How To Retain and Hire Employees During the Great Resignation
In a previous post titled, Why Are Employees Quitting During the Great Resignation?, we discussed whe employees are leaving there jobs in record numbers. In this post we discuss how this unprecedented number of people quitting without taking another similar job is having an enormous impact on the labor supply. All organizations and businesses must act to retain their current employees and to … [Read more...]
Why Are Employees Quitting During the Great Resignation?
One of the ongoing puzzles of the pandemic economy is the ongoing labor shortage. Business owners continue struggling to find workers amid the so-called "Great Resignation." However, this is not the first time the labor market has undergone a massive change, but the number of people quitting without taking another similar job is drastically different from previous workforce shifts both in … [Read more...]
1099 and 1096 Forms: Why and when does your small business need to file them?
Proper preparation is a must for all taxpayers but if you own a small business, there are a few additional steps you need to take to get ready for tax season—and, depending on your business, that may include IRS Forms 1096 and 1099.But what, exactly, are IRS Forms 1096 and 1099? Does your business need to submit both forms or even either to the IRS? And, if so, how do you fill out the … [Read more...]