Newly proposed Department of Labor regulations, if finalized as written, will mean roughly 1.3 million workers who are currently treated as exempt will become eligible for overtime pay, beginning next year. Another provision sets a higher threshold for "highly compensated employee" status, potentially impacting another 200,000 workers. Here's what it means.

Inventory is expensive, so it needs to be as lean as possible. Businesses need to find ways to trim the fat from inventory without compromising revenue and customer service. This article has some suggestions, including using inventory ratios for benchmarking and reviewing product mix.

There's a construction business commodity that's incredibly important but often in short supply. Despite needing more of this resource, companies can't buy it because it's not for sale. It's time.

Many businesses will pay less federal income taxes in 2018 and beyond, thanks to the Tax Cuts and Jobs Act (TCJA). And some will spend their tax savings on merging with or acquiring another business. Before you jump on the M&A bandwagon, it's important to understand how your transaction will be taxed under current tax law.

As interest rates continue to rise, competition among banks for core deposits is heating up. This creates a challenge for community banks striving to grow their core deposits to fund lending activities. On the one hand, banks need to consider paying higher rates to attract deposits. On the other hand, increasing the cost of deposits cuts into their profit margins.

As a business evolves, it will encounter the need to build credibility with outside parties, such as investors and lenders, and to make well-informed strategic decisions. In short, financial statements are a necessity.

Several recent trends are causing some employers to revise their drug use policies. Here are some issues to consider to help ensure your company's strategy is effective and up-to-date.

The Tax Cuts and Jobs Act (Act) legislation signed into law on December 22, 2017, was sweeping in several ways.  The Act has eliminated any deduction for business entertainment expenses, eliminated 2% miscellaneous itemized deductions for individuals, set the Corporate tax rate to a flat 21%, and created a new deduction for individuals who own pass-through entities, to name a few of the significant changes. 

The IRS announced that it is waiving the estimated tax penalty for many taxpayers whose 2018 federal income tax withholding and estimated tax payments fell short of their total tax liability for the year.

New Year's is traditionally a time to make resolutions for the upcoming months. Once you set your personal goals, it's time to get serious about your business goals. Here are ten resolutions you might consider making — and sticking to — to put you on track to prosper in 2019.