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But how do you know if a smallbusiness HR outsourcing solution is right for you? What is HR outsourcing for smallbusiness? On a basic level, HR outsourcing simply means hiring people outside of your company to perform HR services for your smallbusiness. Why do smallbusinesses outsource HR?
HR administration is an essential component of running a smallbusiness, but it’s often one of the most challenging to manage in the early stages of smallbusiness or start-up operations. Explore the benefits of HR outsourcing below to find out if outsourcing human resources is right for your smallbusiness.
To be eligible for a premium tax credit, citizens and legal residents must satisfy the following criteria: Have household income between 100-400 percent of the federal poverty line (FPL); for 2014 subsidies , the FPL for employees living in all states except Hawaii and Alaska is $11,490 for an individual and $23,550 for a family of four.
Besides many of the state and federal forms you’re required to fill out, there are all kinds of other pitfalls to be aware of: local and state wage and labor laws, how to select your own business entity, how to classify your employees.the list goes on and on. Founded by law graduates who felt the legal. Read more
The current patchwork of states across the country with legalized marijuana (medical and recreational) is sure to cause headaches for employers. The most common misconception among smallbusiness owners relates to “employment at will” regulations. Many states already lay out these obligations. Employment at will.
It also provides legal protection for business owners , including protection from employee injury lawsuits. Sometimes referred to as errors and omissions (E&O) insurance, professional liability insurance is a must for business owners who work directly with customers offering services or advice. Professional liability.
A solitary HR professional’s job description may include: Overseeing legal compliance and handling employee relations concerns Coordinating recruitment and strategizing on plans for retention Overseeing payroll and benefits Implementing and reviewing employee performance reviews Creating and enforcing company policies. Setting Priorities.
Dear smallbusiness owner, We know you’re busy, so we’ll make this quick: You deserve a lot of love right now. You’ve dedicated your life to your business, putting in the work, quietly making the world run. Without you, we couldn’t find medical care, legal aid, or financial help. We wouldn’t have food.
Actions can vary from updating your employee handbook to employee termination and legal intervention. One of the biggest mistakes smallbusiness owners make is putting one person in charge of the finances. Alert law enforcement if legal action is required. Many times theft can occur out of opportunity.
Ensure compliance with all relevant HR documentation and legal requirements. As you bring an employee back to work, be careful to comply with all relevant federal and state legal requirements: 1. Identify essential functions of the job. Determine the employee’s current capabilities and restrictions. Workers’ compensation statutes.
For smallbusiness owners, there are several benefits to choosing a CPEO over a non-certified PEO, including: CPEOs are solely liable for the payment of federal employment taxes on wages it pays to worksite employees. CPA-affirmed documentation that they remit employment taxes in a timely manner.
For many businesses, it’s how you “get in the room” (literally, if we’re talking about an in-person meeting). And for other kinds of businesses—such as healthcare, legal services, salons, home repairs, and companies in other service-driven industries—an appointment and a sale may as well be the same thing.
The nuances between what legally constitutes a person and an employer aren’t always clear-cut when it comes to FLSA compliance. Because the burden of proof for FLSA compliance lies with the employer, not the employee, it’s vital for businesses to maintain accurate records related to hours worked and wages paid.
Although it may sound like a ton of paperwork (which, to be clear, it is), this time of year also presents tons of savings opportunities for smallbusinesses like yours. With January in the bag, most smallbusiness owners have sent out tax forms to their employees and independent contractors. Or upgrade your equipment.
Legal Team. Contract a smallbusiness specialist to help with trademark and licensing needs. Also, did you know there are services that provided lawyer-prepared legal templates? You can get them all from legal services. Contracts, NDAs, Terms & Conditions, Privacy Policies. This one is my favorite.
Legal Team. Contract a smallbusiness specialist to help with trademark and licensing needs. Also, did you know there are services that provided lawyer-prepared legal templates? You can get them all from legal services. Contracts, NDAs, Terms & Conditions, Privacy Policies. This one is my favorite.
Smallbusiness owners tend to be driven by a fiery passion for what they do. In such cases, maybe a standard, for-profit business model isn’t the right fit. If you’re starting a business but want to focus on supporting a cause or community, maybe forming a nonprofit makes more sense. What legal structures are available?
In this article, we’ll dive into whether or not you need to get a business address and, if so, how to do it. Do You Need to Get a Business Address? First and foremost, do you want to get a business address, or do you need one? So, if that applies to you, then yes—you need to get a business address. Unlike a P.O.
For smallbusinesses, an employee buyout often focuses on the sale of the company’s assets.” Liquidate the business’s assets and close the doors for good. But unless you exit businesses on a regular basis, you’re not an expert on exiting businesses—so get in touch with the financial and legal wizards who are.
As the plan sponsor, the PEO will handle the related administrative tasks, such as negotiating with carriers, enrolling employees, providing legal notices and handling COBRA administration. Think you can minimize legal expenses and PR fallout from lawsuits? Retirement plans. Recruiting. These days, recruiting moves at light speed.
It’s crucial to stay on top of what it takes to stay in compliance to reduce legal liability. Cost-effective solution for smallbusinesses. Cloud-based solutions deliver seamless software upgrades that won’t disrupt business. Costs associated with inefficiency. Using payroll software.
Today, Gusto , a payroll and HR software platform for smallbusinesses, rolled out a new AI “assistant” named “Gus” that promises to simplify compliance and save companies from crushing fines. But for now, think of AI as a way to help early smallbusiness owners. A 2017 report from the U.S.
If you find something suspicious, contact your legal counsel about next steps. In addition, you may have grounds for legal action against the former employee. Smallbusinesses that do not have dedicated security roles can contact the National Cybersecurity Alliance for additional information on security checkups and tools.
You’ll also need to buy computers, printers, phones, a scanner, dictation recorders, legal software, and client relationship management software. Finding funding Smallbusiness loans are an option but require putting up collateral. A line of credit might be a better bet. We’ve got you covered!
There are a variety of exciting titles coming out this summer for small-business leaders and entrepreneurs. Legal Guide for Starting & Running a SmallBusiness (18th ed.) Here are some of the most promising new releases: 1.
Buddy Punch : A simple and user-friendly platform for smallbusinesses, combining scheduling and time tracking. month ShiftBoard Visit Website Read more + ShiftBoard is a robust employee scheduling and shift planning solution, starting at $3 per user per month—an affordable choice for smallbusiness budgets.
For many businesses, it’s how you “get in the room” (literally, if we’re talking about an in-person meeting). And for other kinds of businesses—such as healthcare, legal services, salons, home repairs, and companies in other service-driven industries—an appointment and a sale may as well be the same thing.
Natural disasters are an unpredictable reality across the country, and their impact on smallbusinesses can be devastating. Legal documents, employment records and client data are all typically housed on a disc, hard drive or online environment. “Many smallbusinesses don’t. Flooding in one region.
The case eventually ended up being thrown out,” Gobel says, “but not before I ended up with a $1,500 legal fee.” Client contracts sometimes even require you to have freelance business insurance. General liability insurance for freelancers This is the most common insurance that smallbusiness owners purchase.
Co-employment is the legal structure that professional employer organizations (PEOs) and their client companies use to share HR responsibilities. Risk mitigation for smallbusinesses. While PEOs take on many tasks for their client organizations, they’re unable to assume all tasks associated with being an employer.
Smallbusinesses stand to gain a lot by engaging freelancers, but they also expose themselves to massive liability if they misclassify employees. Although treating an employee as a freelancer seems like a minor oversight, the stakes are incredibly high for smallbusinesses that make that mistake. Download our free guide.
Instead, the themes produced in the SWOT analysis inform and are weaved into: Overall business strategy Department goals and objectives Individual employee goals and objectives Change management plans Marketing and sales plans Legal strategy Hiring and training initiatives. Benefits of performing a company SWOT analysis.
There are several types of retirement plans that your smallbusiness could potentially offer; each functions differently and carries different benefits. 401(k) is the most well-known retirement plan available to any business. You will be relying heavily on your provider to file legal documents and administer funds.
There are some legal compliance issues associated with pre-employment screenings and assessments, so employers should consult a legal counselor before implementing them. Some states, including Louisiana , Massachusetts and California , offer assistance programs for smallbusiness employee training.
Even the most scrupulous and caring employers may fall short of fulfilling their legally-mandated duties to take care of their employees simply because they are unaware of all the complex federal employee rights acts and employer regulations. Employment Polygraph Protection Act (EPPA). Worker Adjustment and Retraining Notification Act (WARN).
Consequently, retiring business owners looking to sell their business to their employees often find accessing needed financial, legal and other supports to be challenging. Indeed, many retiring business owners will not even consider this option, as none of their advisors are likely to mention it.
SmallBusiness Administration, owners of small companies spend as much as 25 percent of their time dealing with employee-related issues. This is time and money that would be better spent tending to the moneymaking functions of the business. Allowing you to focus on the business of doing business.
Unfortunately, since smallbusinesses employ a smaller number of individuals, providers make less money than they do with the big guys. As a result, many providers won’t provide benefits to your smallbusinesses simply because it’s less profitable for them. Recruit and retain good employees.
As a smallbusiness, you probably won’t need to offer such a large scale plan. A provider that caters to large businesses may only offer big business retirement plans. They oversee the legal, ethical and financial decisions related to your investments. You could end up paying for features you don’t need.
Restructuring is the act of changing the business model of an organization to transform it for the better. These changes can be legal, operational processes, ownership, etc. A buyout is wherein a party acquires the rights of a controlling interest in the business for a sum of money. Legal Restructuring. Financials.
So, I created a digital product that was a guide to running your business from a legal perspective. It was 10 chapters called SmallBusiness Bodyguard. RR: My legal clients were asking me how I was getting my practice to grow so fast. I launched that in July 2013… [and] earned $80,000.
Divorce or legal separation. But how can smallbusinesses move from the kiddie pool to the deep end? With a PEO, employees of smallbusinesses get access to a large-group health insurance plan. Learn how Insperity can help your business curb COBRA costs and handle health care reform. Death of the employee.
Often, smallbusinesses are subject to many of the same laws and regulations that govern large corporations. Though it sounds simple, missing or incomplete I-9 forms can get you into legal hot water quickly. Let’s look at three of the most common compliance mistakes. Failure to keep valid I-9 forms on file.
A poorly compiled and/or incomplete handbook is not only unprofessional, it can create legal liabilities as well. Many smallbusiness owners fear workers’ compensation claims and lack the knowledge to navigate the process. Often smallbusiness owners are notorious for wrong reactions.
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