Understanding Payroll as an Employer
What will the employee’s schedule be and how much will the employee get paid? Will your new hire be an employee or an independent contractor—and what is the difference? Did the employee sign an employment agreement? Before your new hire begins, there are some basic things you need to know about payroll, taxes, and required state and federal filings.
What to Do When a Director Resigns
Corporations are required to have a board of directors, which is selected by the shareholders. The board of directors helps govern the corporation, provides advice and counsel, conducts high-level management, elects officers, votes on key decisions, and protects shareholders’ interests. Corporate directors’ service on the board may be subject to term limits, however, a director […]
How to Remove a Member of an LLC
As a business grows, its ownership structure may change and an owner may need to be removed. Removing an owner of a limited liability company (also known as a member) may become necessary if a member retires, dies, changes career, commits a breach of conduct, or has a dispute with other LLC members. When members […]
What You Should Know About Issuing Stocks
The ability of a company to issue stock is a crucial element of modern capitalism. Selling stock, which represents an ownership share in a company, allows companies to raise money for growth and expansion. Stock options are also used as an employee incentive, especially in the startup phase. C corporations are the only entities that […]
What You Need to Know About Paying Employees
Employees are essential to your small business. Hiring and retaining workers is one of the biggest challenges that business owners face. In this highly competitive labor market, employers are looking for competitive edges to attract—and keep—employees. Paying employees isn’t as straightforward as one might think. While many workers currently place a greater emphasis on job attractors […]
How to Handle an Employee Injury on the Job
On-the-job injuries are an unfortunate reality for many employers. Every year, millions of employees suffer injuries and illnesses in the workplace. While some industries have a higher risk of harm than others, you can expect to deal with an injured worker at some point, even if your team works from the relative safety of an office.
Developing a Paid Time Off Policy
Although employers are not legally required to offer paid time off (PTO) to their workforce except in a few states, most choose to do so. Those that offer PTO benefits may have a competitive advantage. Nearly a third of employees say they would sacrifice pay for additional PTO. PTO promotes work-life balance and can be part of a benefits package that helps attract and retain employees.
What You Need to Know to Avoid Liability in AI Hiring
Artificial intelligence (AI) is arguably the most transformative technology since the advent of the internet. It is poised to play a significant role in many areas of human life, including the workplace, where AI is changing not only how we work but also how we hire. Due to the emergence of AI hiring tools, applicants might not connect with a human being from the hiring company until AI has screened them.
The Impact of the FTC Ban on Noncompete Clauses, Game-Changer for US Workers
The recent decision by the Federal Trade Commission (FTC) to ban noncompete clauses in agreements signed by for-profit US employers marks a significant milestone in labor rights and fair competition.
Legal Considerations for Buying an Existing Business
Buying an existing business can eliminate the initial legwork of establishing a customer base, training employees, and securing start-up funding, but it is not without its own challenges.