Archive | Washington Post RSS for this section

And the worst state for business taxes is …

WP Logo

(This post originally appeared on The Washington Post)

The administration’s tax reform proposals may reduce rates for both corporations and pass-through entities. But unfortunately, many businesses around the country still must face steep tax rates in their own state. So which state is the worst for business taxes?

That would be New Jersey. Don’t laugh New Yorkers — your state was 49th on the list. Californians? You’re the third worst. That’s according to the annual 2018 State Business Tax Climate Index report issued this week by the tax policy nonprofit Tax Foundation. Read More…

Advertisements

Study: 71 percent of employees are looking for new jobs

WP Logo

(This post originally appeared on The Washington Post)

The vast majority of 17,000 U.S. workers in 19 industries who participated in a survey conducted by the nonprofit group Mental Health America and the Faas Foundation said they are unhappy with their jobs. They are so unhappy that 71 percent also said that they are looking to change employers.

So what gives? Two big reasons are cited, according to this report in The Ladders.

Employers, the study found, are not giving the recognition that most employees want. Forty-five percent of respondents said they “rarely or never” get the money they deserve and 44 percent believe that they are “always or often” overlooked. Sixty-four percent say their supervisors don’t give them enough support and a majority of the participants are resentful of their co-workers. So much for teamwork. Read More…

Tesla fires hundreds of employees, citing poor performance reviews

WP Logo

(This post originally appeared on The Washington Post)

It must be nice to be a big business! In today’s tight job market, most employers I know – especially small employers – are doing all they can to hold on to their employees. Tesla, the famous electric carmaker headed by Elon Musk, is doing the opposite. 

On Friday, the company announced that it was dismissing hundreds – perhaps 400 to 700 by some estimates – of its employees. It’s an unusual move. Many are highly sought-after and skilled people – engineers, managers and factory workers – and some who had been with the company for a few years. Was this due to hard economic times or a slowdown? Company officials say no.  Read More…

These two start-ups say they can remove bias from your next hiring decision

WP Logo

(This post originally appeared on The Washington Post)

Business owners are human beings, and as human beings we’re all far from perfect. This becomes evident when we hire. We try to make our hiring decisions as objectively and independently as possible. But we all sometimes let our own biases seep into our decision making. I know I do. 

Is it possible to push all these influences aside so that business managers can just choose the best candidate for the job using just logic and facts? Maybe. According to this recent report in the New York Times, two start-ups have created applications that, they claim, take the bias out of hiring. How? By using artificial intelligence and special algorithms which will essentially match the best candidate for the job without letting these biases get in the way.  Read More…

In North Korea, entrepreneurism continues to thrive

WP Logo

(This post originally appeared on The Washington Post)

The rising threat of war. An uncertain government. A challenging economic environment. Yeah, we’re used to that here in the United States. Business people in North Korea also have all those challenges, and then some. But that doesn’t seem to stop them from doing business. 

Last year and according to South Korea’s central bank, the North Korean economy grew almost four percent, a number that politicians and economists in the United States can only dream about. Money is still flowing from China. There’s a building boom in Pyongyang. And, as I previously wrote back in August, there is still a middle class that seem to have enough cash to afford solar panels to help light up their homes.    Read More…

Tax savings? Smaller companies plan to use it for tech, not people

WP Logo

(This post originally appeared on The Washington Post)

You would think that larger companies would have the highest tax rates, but they don’t.   

Because many of these companies are able to shelter money in destinations that have lower taxes, it turns out that the average tax rate for companies included in the S&P 500 is around 28 percent. The reality is that it’s the smaller firms– like those included in the Russell 2000 index of U.S. small and mid-cap stocks–that generally pay the highest tax rates, with an average of about 31.9 percent.  

It’s those firms that would gain the most by the current Republican tax reform proposal, which includes a cut in the corporate tax rate from 35 percent to 20 percent as well as a potential cut in tax rates for smaller, “pass-through” entities like limited liability companies and S-corporations. This is why the Russell 2000 index has been rising over the past few weeks. Read More…

You are not going to believe where the hottest ‘hipster’ market is

WP Logo

(This post originally appeared on The Washington Post)

The proper definition of a “hipster” is, according to Dictionary.com, “a usually young person who is trendy, stylish, or progressive in an unconventional way; someone who is hip.” Ask others and you might get a slightly different point of view. For example, Urban Dictionary’s top definition says this generation “rejects the culturally-ignorant attitudes of mainstream consumers, and are often be seen wearing vintage and thrift-store-inspired fashions, tight-fitting jeans, old-school sneakers, and sometimes thick rimmed glasses.” By the way–that’s a very kind definition. Comedian Patton Oswalt once joked that to be a successful hipster you should own a French bulldog and wear comfy sneakers. Read More…