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?”
Why should you want to make your business senior-friendly? Well, the silver tsunami of aging Baby Boomers is just starting and is only going to get bigger as those age 85 and over are the fastest growing segment of our population. According to the U.S. Census Bureau, there were more than 20,000 people in Chelan and Douglas counties aged 65 and over in 2017, and that number is increasing daily as more and more retirees from the “wet” side of Washington come to the Wenatchee Valley for our sunshine, recreation ...
There is much hype today about organizational culture (well... today, yesterday and tomorrow). We see mission and vision statements displayed proudly in lobbies and conference rooms. But how many people, including those in management, really know the core values of their organization? And moreover, how many use these values to make decisions affecting their organization?
Are you self-employed, do you freelance, or do you run a business on the side? You have a complicated tax situation, all stemming from one fact — when you earn a paycheck taxes are not immediately taken out of it.
There are few things — if any — we hold dearer in the Pacific Northwest than a clean, healthy environment. Our state has taken great care to protect the air, water and land through the generations, which is evident in our state’s extremely low carbon footprint and the pristine landscape we all appreciate.
I read in the book "Boss Bitch" (Nicole Lapin) that there are two types of leaders — those that lead as if they are playing checkers, and those that lead as if they are playing chess. Her point was that people are like chess pieces — we all move a little differently. We want to be treated differently. And leaders who treat everyone the same (checkers pieces) are less effective because people are individuals that respond uniquely. I completely agree.
So, you’ve decided to start a business. It’s an exciting idea. Owning your own business provides an opportunity to escape the rat race, to work how you want to work, and to reap the rewards of your own labor. However, there are some potential pitfalls and obstacles to consider as well.