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22
Nov
By: Lawhorn Staff Advice, Business Practices, Tax No Comments

The Department of Labor’s OT Ruling is on HOLD!

On May 18, 2016, President Obama and Secretary Perez announced the publication of the Department of Labor’s final rule updating the overtime regulations, which will automatically extend overtime pay protections to over 4 million workers within the first year of implementation.

As employers have been scrambling to review job descriptions and salaries before the December 1, 2016 deadline, a US Court judge puts the Department of Labor’s rules on hold. A group of states filed a lawsuit stating that the Department of labor’s OT rule overstepped the government’s authority.

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08
Nov
By: Lawhorn Staff Advice, Business Practices, Investments, Tax No Comments

There is No “I” in Team!

I’ve heard this phrase many times over the years:  “All growth starts with the truth.”  It is such a simple concept.  Be honest about where you and your business really are, and decisions can be made that truly make a difference.  Whether those decisions ease a pain or propel you to the next level, if you aren’t really honest with yourself, or your team, about where you really are right now in reality, then any change instituted may not have the intended impact.  And, in fact, could have negative repercussions for you or your business.

Especially where you have a multiple owner scenario or an entrenched management team, the truth is sometimes hard to come by.  Why?  Well, there are always egos that have to be checked, but beyond that it comes down to perception vs. reality.  Each person’s perception is their own reality, and many times those perceptions do not align.  So, it takes some real digging to get perceptions aligned to what the real reality is.
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27
Oct
By: Lawhorn Staff Advice, Business Practices, Investments, Tax No Comments

Earlier Due Dates for Forms 1099-MISC and W-2

When a business pays non–employee compensation aggregating to $600 or more to a single payee in a tax year, the business must file a Form 1099-MISC to report the payments to the IRS. Similarly, employers must report wages paid to employees on Forms W-2. Copies of these forms (called payee statements) must also be supplied to payment recipients.

Before a law passed last year, Forms 1099-MISC and W-2 were required to be filed with the IRS and the Social Security Administration (SSA) by the last day of February or by March 31 if filed electronically. Now, the due dates have been accelerated.

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08
Aug
By: Lawhorn Staff Advice, Business Practices, Financial Planning, Investments, Tax No Comments

The Most Wise Investment You Can Ever Make

All that we have done, are doing, or will do, is based upon 1 common element. PEOPLE!

Our business, your business, me, you, us, our team, all represent our “Internal people.”

WE ARE our Human Resources. We are HUMAN CAPITAL to one another.

Those we serve – our clients, networking partners, government agencies, our community – they represent our “external people”: Our market, our partners in service, our friends, our family. All of these are also our HUMAN CAPITAL. Of course, external people are also made up of competitors; some people who may challenge our existence, or wish to harm us. So, just as there is risk in monetary investing, there is risk in “raising and utilizing” our Human Capital.

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