What are we to believe? Is debt good or bad? On one extreme are some financial pundits that say to go into debt and use other people’s money to make money, and on the other extreme are experts that believe that any form of debt is bad. Who should we listen to? Ignoring the rare […]
Expenses
Will Outsourcing Create Higher Profits?
When we think of outsourcing, we immediately think of manufacturing goods overseas or customer service reps with thick accents reading from a script. Even with all of the negative images of outsourcing, should you still outsource parts of your business or even vital functions? Here are some pros and cons: Pros of Outsourcing: Potentially lower […]
Just When I Thought I Was So Smart . . .
As a professional, it’s always wise to project a good image of yourself, especially that you are intelligent. However, sometimes or many times we do things that really humble us and hopefully help us to not be so prideful. Here are a few things that I have done recently and not so recently: GPS: My […]
This Will Kill the Economy Long-Term
There are many factors that can help an economy to grow, including productivity gains, wage growth, sound governmental policies, healthy banking systems, etc. A lack of all of these items will hurt economic growth, and there is one more often overlooked item that can and will devastate an economy over the long haul. It’s probably […]
Want a Better Business? Focus on Recurring Revenues!
There are more ways to make money in business that can be listed. However, one mostly overlooked business model by a majority of small businesses is the recurring revenue model. Larger businesses already know this and are taking advantage of the benefits. Here are some pros and cons and how to implement the recurring business […]
Who Will Come Out Ahead When Filing Their Returns This Season?
Who will benefit the most from the tax law changes this year? The biggest winners will be: Corporations: With reduced corporate tax rates of 21% versus the previous 35%, most corporations will come out ahead. Although corporations that have income of less than approximately $75,000 may not benefit. Business owners: Business owners that operate sole-proprietorships, […]
Paid Sick Leave in NJ? What You Need to Know
Another change in New Jersey that affects both employers and employees in the state is paid sick leave, which was effective starting October 29, 2018. Here are the details: Number of sick days: The New Jersey Earned Sick Leave Law allows employees to accrue 1 hour of sick leave for every 30 hours worked, up […]
Are there Alternatives to Traditional Health Insurance?
My last post titled, “Did You Know that NJ Now Requires All Residents to Have Health Insurance?” gave a few exceptions to the new New Jersey mandate that requires all New Jersey residents to have health insurance. One of the exceptions to the mandate is health care cost sharing, which almost no one has ever […]
Did You Know that NJ Now Requires All Residents to Have Health Insurance?
Starting this year, New Jersey is requiring all residents to have health insurance. Even though the Federal government has gone in the opposite direction, there are a handful of states that have their own mandates or are considering a mandate. What are some of the requirements, exceptions, and penalties regarding this new law? Requirements: The […]
Small Business, Large Profits
All small business owners want to increase sales, open new locations, obtain more customers, add employees and grow, grow, and grow some more. It sounds good, but is it really necessary? Is there an alternative? Necessity: It is necessary to grow your business as the alternative isn’t too appealing. You have financial obligations and people […]