Premises liability coverage is an insurance policy that protects property and business owners from financial losses due to injuries and property damage claims on their premises. Specifically, this insurance is designed to cover situations like slips and falls, injuries from falling objects, the destruction of personal belongings, or accidents due to negligence in maintenance or…
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Payroll for Nonprofits: An Easy Guide for Employers
Payroll for nonprofits is the process of managing and compensating employees within a nonprofit organization, ensuring compliance with tax obligations, and handling employee benefits. The process goes the same way that for-profit businesses do; however, there are some differences depending on your organization’s structure and the types of workers you need to pay. For instance,…
Recruitment Management System: Small Business Guide
A recruitment management system (RMS) is a human resources tool or set of tools used to manage the process of recruiting, interviewing, and hiring new employees. Managing recruitment requires ongoing monitoring, legal compliance, and fairness to avoid discrimination. Apart from helping with these, the right RMS also works in several steps of your recruitment process,…
Deduct Education Expenses for Your Business & Save Taxes
The cost of educating yourself or your employees is a deductible business expense if it is a condition of employment or maintains or improves skills used in the current business—the courses can’t qualify the student for a new career. In some cases, an education expense might qualify for both the business deduction and a personal…
IRS Business Expense Categories List [+ Free Worksheet]
The list below includes the most common business expense categories that a small business may encounter; it’s not an exhaustive list. In general, you may deduct expenses that are ordinary and necessary for your business. The IRS website defines “ordinary” as something common for your industry and “necessary” as something helpful and appropriate for your…
Supply Chain Transparency for Independent Retailers
With shoppers increasingly holding businesses accountable for their impacts on the environment and their communities, supply chain transparency provides visibility into how products are made.
Consumers are demanding more transparency from businesses than ever before. One way to appeal to this consumer behavior is through honesty and accountability in your supply chain processes. Supply chain transparency involves both internal and external access to information about product development, from sourcing to distribution. Let’s dive in. What Is Supply Chain Transparency? Supply…
Applicant Screening: 5 Steps to Find the Perfect Candidate
In the complex world of business, hiring the right candidate is a crucial task that can significantly impact a company’s success. A key piece of this process is applicant screening, a systematic method to evaluate potential employees. The process of how to screen applicants includes reviewing the initial job application and resume, initiating pre-interviews, performing…
Cash Stuffing: What Businesses Need to Know in 2024
Economic conditions are causing consumers to tighten their wallets and carefully monitor spending. Cash stuffing is making a comeback as a budgeting method of choice.
Cash stuffing is a budgeting method that has recently started gaining traction. While many consumers have increasingly gone digital in their spending, rising inflation and cost of living have pushed some—particularly younger consumers—to pursue “old school” approaches to money management. With “cash stuffing” making the rounds across millions of posts on TikTok, it is one…