A sole proprietorship is the default IRS entity structure for freelancers and contractors who don’t form a corporation. It is also the default for single owners of limited liability companies (LLCs), but they can choose to be treated as a corporation if they prefer. Business income and expenses are reported on Schedule C of Form…
When it comes to hiring Gen Z, you need to first understand what matters most to them. Members of this generation are known for being digital natives, socially and financially conscious, tech-savvy, and continuous learners. They are also called the most diverse yet loneliest generation—and they are waiting to reshape the workplace. To attract Gen…
According to the Kaiser Family Foundation (KFF), group health insurance premiums averaged $8,435 for single coverage and $23,968 for family coverage in 2023. Understanding the costs involved in group health insurance is crucial for making informed decisions for any business. When evaluating group health insurance options, employers have to consider key individual costs including premiums,…
If you’re trying to raise money for your business, turning to your friends and family may be a good place to start. Instead of looking to a bank or other lending institution, sourcing funds from friends and family can be more accessible and often allow for better rates and repayment terms. However, lending always comes…
Ever considered going inside a store, picking up items you want, and then just walking out? The revolutionary Just Walk Out (JWO) technology, developed by Amazon and used in some stores in the US, UK, and Australia, works exactly like that. With the help of cameras, shelf sensors, deep learning, and generative artificial intelligence (AI),…
There aren’t a lot of federal regulations focused on part-time employee benefits, so it’s up to the employer’s discretion what type of benefits they will give their workers. Companies would typically offer the same benefits to part-timers as they would to full-time employees—the most common of which include health insurance, tuition insurance, fringe benefits, and…
The question of whether it is illegal to not accept cash is a relevant and important question for many small businesses. The short answer is—it depends on where you are located. There is no federal law that requires businesses to accept cash, but there are some states that have laws in place that prohibit businesses…
A business owner’s policy (BOP) is advantageous for small business owners because it brings together general liability, commercial, and business interruption coverage—often for a lower price than if you were to purchase the policies separately. Learn what a BOP policy is, how much it costs, and what coverages it typically includes, as well as top…
