Welcome to the New Year! This is the time many choose to take stock in their lives and careers and proclaim changes for the coming year. What will you do (or do better) in 2019? A new career? Seek a promotion? Start a new hobby? Most New Year resolutions never come to fruition. Why is that? When we try to take on challenges, there can be trepidation. This trepidation is often rooted in fear. This is a good time to ask yourself: Will fear interfere with my resolutions?
Two things in life are certain: death and taxes. But, there is no reason to let taxes or the IRS scare you to death. Thankfully, there are numerous options available for resolving tax issues with the IRS that don’t require going to court.
Here we go again. Two years after the attempted modification of the federal “white collar” exempt overtime rules stalled in the federal courts, the Washington Department of Labor and Industries (L&I) is taking it upon itself to propose updated rules regarding minimum wage requirements for salaried employees at the state level. Under the proposed changes, some employers may have to provide overtime pay, minimum wages and paid sick leave to employees previously classified as “exempt” under the rules defining Executive, Administrative, and Professional (“EAP”) exemptions.
There is no shortage of opportunities and ideas — shiny stuff — for businesses and leaders to expend their resources. What’s wrong with pursuing shiny stuff? It’s enticing, or at least looks cool on the outside — and potentially lucrative.
The tax reform legislation that Congress approved in December 2017 was the largest change to the tax system in more than three decades. The last time the U.S. tax code saw such a significant reform was under President Ronald Reagan in 1986. Under this new legislation, substantial changes have been made to both individual and corporate tax rates.
In 19th Century Central Europe, a fracture network of feudal micro-states engulfed the region with perpetual warfare in their pursuit of power and dominion. The resulting consequences were poverty, disease, starvation, and lawlessness.
For over 75 years, payers of alimony (also known as spousal support or spousal maintenance) were allowed to take a tax deduction for the amount of alimony paid to their ex-spouse. This shifted the income tax burden to the receiver of alimony, which in many instances increased the amount of income available to spouses transitioning to two households.
Do you have a “defined benefit pension plan through your job, such as TERS, PERS, SERS or LEOFF?” Do you work for a PUD, school district, public works, law enforcement agency, county, city or state? You may want to take a hard look at Pension Maximization.
Many of you reading this are familiar with the term "Right People Right Seat" (popularized by Jim Collins in his book "Good to Great"). And I think it is safe to assume you, like the rest of us, want to have all the Right People in the Right Seat on your Organization’s “bus.” Great! Sounds simple enough. But how do you know when you have all the Right People Right Seat (RPRS)? You wonder, “How can I quantify that information?”