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Fun Fact

The United States tax code is four times longer than Shakespeare’s complete works.

Market Update

Today’s executives spend a lot of time managing the balance sheet, despite the fact that it doesn’t represent their company’s scarcest resource. Financial capital is relatively abundant and cheap. According to Bain’s Macro Trends Group, the global supply of capital stands at nearly 10 times global GDP. As a result of capital superabundance, global quantitative easing and relatively low demand for investments in R&D and capital projects, the after-tax cost of borrowing for many companies is at or near inflation, making the real cost of borrowing close to zero.

In contrast, today’s scarcest resource is your human capital, as measured by the time, talent and energy of your workforce. Time, whether measured by hours in a day or days in a career, is finite. Difference-making talent is also scarce. The average company considers only about 15% of its employees to be difference makers. Finding, developing, and retaining this talent is hard — so much so that the business press refers to a “war” for talent. Energy, too, is difficult to come by. Though intangible, it can be measured by the number of inspired employees in your workforce. Based on our research, inspired employees are three times more productive than dissatisfied employees, but they are rare. For most organizations, only one out of eight employees are inspired.

To read more of this article from The Harvard Business Review, click here!

HR Topic

 

save money

The Society for Human Resource Management’s (SHRM’s) 2017 Employee Benefits survey report (forthcoming), based on a survey of SHRM members conducted earlier this year, found that more organizations are offering financial advice compared to 2016 and to five years ago.

 

“This benefit can help employees improve their financial management skills, plan how to manage debt, and hopefully alleviate stress and worry as a result,” said SHRM researcher Tanya Mulvey, the survey project leader.

As of this year, nearly one-half (49 percent) of employers offered some type of financial advice, which included providing resource materials or referrals, online assessment and advice tools, and group instruction and one-on-one advice with a financial counselor.

To read the entire article, click here!

 

Payroll Topic

As Proposition 206 goes into effect on July 1st, we are getting a lot of questions regarding policies and the law itself. The best source to answer these questions is the Industrial Commission. They recently released an FAQ to help answer the many questions people have regarding the new law. To find out more information on this very important topic, click here

 

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Accounting

In all the frenzy that goes into the June wedding season, the last thing any bride or groom is thinking about is their tax situation – but as Mark Luscombe, principal federal tax analyst at Wolters Kluwer Tax & Accounting points out, there are a host of tax issues that kick in when you say, “I do.”

Luscombe suggested a number of areas where a tax practitioner’s expertise may be particularly useful to the newlyweds.

To read more of this article, click here!

 

Employee Spotlight

PayTech would like to welcome Penny Caulk to our office. She is a CPA and an Enroll Agent, both allow her to represent our clients on their behalf in front of governmental agencies. She is also an Advanced QuickBooks Pro Advisor.

Penny is married to Teri, and they moved to Arizona from Wisconsin last summer. They do not have any children, so they enjoy spoiling their many nieces and nephews. Because of allergies, they do not have any pets.Penny Caulk

Penny’s favorite hobby is photography. She especially likes taking photos of her great nieces and nephews. She also enjoys landscape photography. Penny and Teri take their Goldwing Honda motorcycles on the road most weekends and are thrilled to be able to ride year around in Phoenix. They have enjoyed many weekend trips exploring Arizona.

Penny has been in Public Accounting for 43 years, taking care of small to medium sized businesses. She loves living in Arizona, especially enjoying the wonderful weather and scenery.

 

 

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