Age Isn’t Just a Number

We have all blurted out statements we would like to take back. Meta CEO Mark Zuckerberg announced in 2007 that "young people are just smarter." Since he himself was only 23 at the time, perhaps maturity has led him to respect the value of experience. Company managers in-house certainly do. In survey after survey, both employers and employees note salient attributes that both older and younger generations bring to their jobs. Each age group does appear to offer distinct advantages.     Age discrimination   How old is old? The Age Discrimination in Employment Act of 1967 protects workers over 40, so that is a good number to use as a starting place. The law prohibits age-related discrimination in companies with at least 20 employees. It is worth noting that sometimes both the discriminator and their target are both over 40. Managers should watch out for issues in the areas…read more...

Intro to Business Deductions

To be deductible, a business expense must be both ordinary — common and accepted in your industry — and necessary, helpful and appropriate for your trade or business. Generally, you cannot deduct personal, living or family expenses, but if you have an expense for something that is used partly for business and partly for personal purposes, you can divide the total cost between the business and personal parts and then deduct the business part.   If you use part of your home for business, you may be able to deduct expenses for such things as mortgage interest, insurance, utilities, repairs and depreciation. But you must meet these tests:   - The business part of your home must be used exclusively and regularly for your trade or business. - It must be your principal place of business where you meet or deal with patients, clients or customers in the normal course…read more...

Get Ready To File in 2024

The beginning of the new year is the time for taxpayers to start gathering their documents for filing their 2023 returns. And the IRS has announced some important enhancements taxpayers should be aware of to ease the yearly burden.   It's hoped taxpayers will find that the enhancements made by the IRS to the online filing process will ease the filing experience. By accessing their online accounts, taxpayers can view, approve and electronically sign power of attorney and tax information authorizations for their tax professional. Taxpayers can also perform any of the following tasks when logging into their accounts: View their tax owed and payment history, and schedule payments. Request tax transcripts. View or apply for payment plans. See digital copies of some IRS notices. View key data from their most recently filed tax return, including adjusted gross income. Validate bank accounts and save information of multiple accounts, eliminating the need…read more...

Form I-9 and the IDs You Can Accept

The I-9 is an important part of the hiring process, but even the most seasoned professionals can be confused about how to process it. Having a mistake on file can become a nightmare if you find yourself and your company under the scrutiny of an audit. Here are the ways to interpret the ID requirements for the current I-9 to make sure you stay compliant.   You cannot require a certain form of ID. By law, an employer is not allowed to demand that an employee provide only certain forms of ID. Some companies aren't familiar enough with this process and require that a new employee provide only a driver's license and Social Security card. This is not permitted. You must accept any forms of ID listed on the Form I-9.   Just one from list A. On the final page of the I-9 document is a list of acceptable…read more...

Gratitude and Employee Recognition

Hello November 2023!  Doesn’t it feel like 2023 has been a quick minute? Our year has flown by and at this time of year, I start to slow down (a bit!), sit back, and count my blessings and gratitudes.   Did you know that GRATITUDE has been scientifically PROVEN to support greater health, happiness, and wisdom – for ourselves AND our communities?  Every year, I read more about the SCIENCE OF GRATITUDE – and the older I get, the more the importance that I put on GRATITUDE!   In The Science of Gratitude (https://www.mindful.org/the-science-of-gratitude/), gratitude helps us feel happier, boosts immunity and heart health, and builds stronger connections.   When my son, David, was growing up, we opened up our nightly dinners with “What are you grateful for?”  That has stuck with us – and made GRATITUDE part of our family DNA. So… what am I grateful for?  Let me count…read more...

IRS Puts Brakes on ERC Processing

  According to the IRS, a moratorium on processing of new ERC claims through year's end will allow IRS to add more safeguards to prevent future abuse, to protect businesses from predatory tactics. The pandemic-era relief program is a refundable tax credit designed for businesses that continued paying employees during the COVID-19 crisis. In a recent release, the IRS said there has been growing concerns inside the tax agency and tax professionals that many new claims are ineligible and increasingly putting businesses at financial risk, thanks to scams by aggressive promoters.   Already in the system? If you've already filed, you're okay. The IRS emphasizes that payouts for these claims will continue during the moratorium period but at a slower pace due to the detailed compliance reviews. With the stricter compliance reviews in place during this period, existing ERC claims will go from a standard processing goal of 90 days…read more...

Prepare for the TCJA Sunset — If You Can

The Tax Cuts and Jobs Act largely winds down at the end of 2025. Maybe. Many of its provisions are political, so much depends on who's in the White House and who has control of the House and Senate at that time. Before you start planning, glean some understanding of what the TCJA does and what may change at the end of 2025. This is not a complete accounting, but it will give you an idea of some of the most major changes.     Income tax rates Rate changes are likely to have the most impact. Consider, for example, the tax rate for a married couple earning between $274,401 and $364,200. Their tax rate in 2023 is 24%. But on Jan. 1, 2026, it becomes 33%, if the government doesn't make any adjustments. In a few brackets, however, the rate may actually go down, or not change at all.…read more...

Form I-9 and the IDs You Can Accept

The I-9 is an important part of the hiring process, but even the most seasoned professionals can be confused about how to process it. Having a mistake on file can become a nightmare if you find yourself and your company under the scrutiny of an audit. Here are the ways to interpret the ID requirements for the current I-9 to make sure you stay compliant.   You cannot require a certain form of ID. By law, an employer is not allowed to demand that an employee provide only certain forms of ID. Some companies aren't familiar enough with this process and require that a new employee provide only a driver's license and Social Security card. This is not permitted. You must accept any forms of ID listed on the Form I-9.   Just one from list A. On the final page of the I-9 document is a list of acceptable…read more...

Recruitment: The HR Strategy Group Difference

HR Strategy Group provides professional, dedicated, all-inclusive hiring services beginning with a process customized to each client and position. We understand that recruitment is not a cookie-cutter process -- even for the same position!   We fill a variety of positions, from administrative professionals to executive directors/chief executive officers. Our outstanding process includes full-cycle recruitment, including customized job postings; candidate sourcing; extensive candidate screening (with detailed interview notes!); customized interview guides; references checks; guidance with candidate selection; and background screenings.   HR Strategy Group uses a proven, project management based search process. Click here to download our White Paper, “Project Management: The Prescription for Successful Hiring.”   We serve as YOUR Recruitment Project Manager to ensure a great candidate fit for the position and your organization. We listen to you to understand your specific needs, and develop and stick to agreed-to planning and timelines. Our search process is smarter, more analytical, and truly dedicated your…read more...

Staff Spotlight: Katherine Schrock

  This month we feature Katherine Schrock, HR Strategy Group’s Executive Search Consultant. Katherine co-leads our Search and Recruitment practice with HRSG CEO Amy Polefrone.   Katherine has extensive experience working in full cycle search and recruitment with small to mid-size businesses, government contract staffing, and nonprofit organizations and works closely with our clients to fully understand their employment needs. That enables her to develop effective recruitment strategies and appropriately represent our clients to candidates. Clients rave about Katherine’s attention to detail, the professional working relationship that she cultivates with them, and the support she provides through the entire recruitment process.   Katherine received her master’s degree from the University of Michigan, and her bachelor’s degree from the University of Maryland. Alongside her work with HR Strategy Group, Katherine performs as a professional opera singer throughout the US. Katherine and her family live in Virginia Beach, VA.   In her…read more...

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