Many retirement plans focus on the needs of large businesses with hundreds or thousands of employees. That makes it frustrating when small business owners try to provide reliable retirement plans for themselves and their employees. Luckily, businesses of all sizes have options. You just need to know which ones could work well for you. SIMPLE [...]
Archive for the ‘ Small Business ’ Category
Health Insurance Requirements for Business
New health insurance requirements still baffle many business owners. They don’t know whether they need to purchase policies for their workers; what kind of policies they should buy; or what fines they could face by ignoring the legislation. Although it’s impossible to know exactly how the Affordable Care Act will affect businesses until it has [...]
Understanding Succession Planning Options
We discussed how succession planning is a critical step when you are in business, and now we will discuss options to consider when you start succession planning. It’s important that all the decisions you make when you embark on succession planning are strictly business. Succession planning isn’t the time to worry about people’s feelings; it’s [...]
Wealth Extends Beyond the Business
Business owners spend much of their life trying to achieve the individual successes of owning their own business, but all the success in the world means nothing if you lock up your wealth and fail to properly plan for the future. Business owners often overlook effective succession planning, and leave the major decisions up to [...]
DOL on the Prowl
If you’ve never had the pleasure of dealing with the Department of Labor, you are lucky. Consider the following true story. When a Relationship Goes from Bad to Worse Disgruntled employees. We’ve all had them; hell, I’ve been one a couple of times myself. It becomes troublesome when they leave and have an ax to grind. There [...]
Is Oklahoma City the Next Dallas?
On a recent trip to Dallas, I asked myself the above question, is Oklahoma City the Next Dallas? Will OKC or Oklahoma in total, ever measure up to the Metroplex? Why in the world would you want to? In The Beginning As a student at the University of Oklahoma, I dreamed of working in Dallas, [...]
Inflation-What’s the Big Deal?
There has been a lot of conversations recently in the business press about inflation, so I though it would be a timely topic. Why should business owners even care? Primer Many people were not in business the last time inflation was a serious problem in the United States, so for most this is uncharted territory. [...]
1099 Reporting Requirement Repealed
What does the recent health care act have to do with 1099 reporting requirements? It sounds like the beginning of a bad joke, but that is the question that many people asked after the Affordable Care Act passed last year. The good news is that we now have an answer to that question. And, [...]
Why Outsourcing Payroll Makes Sense
I know that most would think it self promotion, but I truly believe that I would say the same thing if I were in a different industry. Processing your own company’s payroll COSTS you money. I don’t mean in the way some sales people use the phrase, but actually hard dollars you can put in [...]
News Flash! Internet Doesn’t Work as Promised!
As I sit here in the middle of another unpredictable Oklahoma weather cycle, I begin to let my mind wander. After reading a story in the newspaper about one of our competitors having to survive the last snow storm, I’m wondering why small business owners are so resistant to change. I’m not belittling small business owners, they [...]