In 2002, when Congress mandated publically-traded businesses pay more attention to their internal controls, many business owners believed this was not only unnecessary, it was a profound waste of money. In the intervening years, many detractors have concluded that not only is an emphasis on internal controls good business, it’s also indispensable to maximize profits.
Most employees welcome a year-end bonus, but many are confused about how this additional income is taxed. Many times the employee will be shocked at the large amount of Federal and State income taxes withheld from the bonus check. The fact is that in most cases, the employer is mandated to withhold taxes on bonus payments at rates higher than a typical paycheck.
Subscribing to technology services or software that are hosted outside your network is not a new concept, yet “The Cloud” has increasingly been in the media limelight. Chortek has supported clients with cloud-based spam and virus filtering for over seven years.
It would be nice to have a crystal ball and know exactly when to sell your company and have the time to put in place an exit plan, make the necessary changes and exit gracefully so you can maximize the sales price and after-tax proceeds. Before you sell, it’s important to plan well. This list highlights those things that will give you the best return on your time and reap the greatest return on your business sale. Read More >
How to select a new system:
First and most importantly create a steering/selection committee represented by individuals throughout the organization. This committee will be the resource to move the company through a successful selection by representing their functional area, defining the requirements, evaluating software against those requirements and be an advocate for the software chosen. Much higher success (based on completion of selection and implementation within a timeline) is achieved with a committee verses just accounting or IT involvement. Read More >