By Lisa Calick, SPHR
New Jersey employers will soon be faced with new requirements to provide paid sick leave to all employees. Signed into law by Governor Murphy earlier this year, the new requirements will take effect on October 29th.
As stated in an earlier blog, this mandate applies to businesses of all sizes and requires employers to provide up to 40 hours of paid sick leave to employees, including part-time, temporary and seasonal employees. Businesses that do not currently...
There are few administrative initiatives that might prove more challenging to more of your employees in more departments than the launch or changeover of an ERP system. Don’t get me wrong — in time you’ll all feel that it’s totally worth it in terms of enhanced productivity and accuracy. It’s just that you’ll all work up a sweat getting there.
In an earlier blog post I described your Enterprise Resource Planning system as being the brain center of your company. So an ERP implementation...
By Lisa Calick, SPHR
Are your business’s human resources starting to fall behind? Have you not reviewed HR policies and procedures in quite some time? Are you running a new startup? If you answered yes to any of these questions, you may need an HR assessment to ensure compliance with state and federal regulations, as well as reduce the risk of potential liabilities.
When Should an HR Assessment Be Performed?
Fundamentally, an HR assessment is an investigation of a company’s current...
By Evan Gernant
With tax reform legislation nearing enactment in Washington it’s easy to keep one’s focus on those headlines. There are, however, important changes in New Jersey and New York tax that have already been signed into law and will impact local taxpayers. Below is a summary of the more significant changes you will see affecting New Jersey and New York State taxpayers in 2018 and beyond.
The sales & use tax rate will continue decrease slightly. A two-phase...
By Mark Feldstein
The Immigrant Investor Program, more commonly known as EB-5, found itself in the news recently due to the introduction of a Congressional bill in July 2017 that could change qualifying terms. But first, let’s review the EB-5 program and how it currently affects foreign investors and entrepreneurs.
The federal EB-5 Program has been in effect since 1992. Its purpose is to provide U.S. visas and a path to citizenship for immigrants who invest at least...
By Wiss Associate
Think of an accountant, and what do you picture? If you follow the common societal stereotype, you may envision someone with a pocket protector and a beige plastic raincoat who goes to bed cuddling his calculator, with no emotion and no social competence. A person who would rather recite the square root of pi than eat pie.
Think of an entrepreneur, and you probably picture an entirely different image.
Beyond the sheer sophistication of the word “entrepreneur” itself,...
By Brittney Neal
Updated 7/30/2019. Businesses change hands all the time, for a variety of reasons. Whether they’re sold, gifted, merged, passed on to next of kin, or divided among former partners, family members or divorcing spouses, ownership of even the most stable of businesses at some point will change.
And when a business changes hands in whole or in part, the parties involved need to have an accurate picture of the value of the sum total of the company’s assets....
By Laura Melville
Under current regulations, employees are exempt from overtime pay if they meet three criteria: the employee must be salaried, perform executive, administrative or professional duties, and earn more than $455 per week, or $23,660 per year. The current salary threshold was enacted in 2004.
But that salary threshold could be increasing, as the U.S. Department of Labor last year recommended raising the salary criteria to $913 per week, or $47,476 per year. (The rule...
By Connor Doyle
There are few things done in the business world that are performed at a leisurely pace. Owners don’t wander through their fiscal year, money doesn’t change hands without intent, and bosses don’t demand 10% of one’s abilities within a project. More often than not, there’s an urgency to requests. There’s an unspoken agreement that a concerted effort will be made towards completion in a timely manner. With that request comes pressure, and with that pressure often comes...
By Connor Doyle
Accounting, our Romeo, and Finance, our Juliet. Two houses, both alike in dignity, in fair New York City, where we lay our scene, from ancient bond break to new maturity, where credit balance makes cash on hand burst seams. Accounting and finance, though both safely under the business umbrella, are divergent in ideology. Finance wants to spend and raise money for the future of a business while accounting wants to keep track of all that has happened in the past. But,...