A CFO’s role has changed to include more responsibility over HR.
As finance has become crucial to your company’s strategic advantage in business, a CFO’s role and responsibilities have changed to include human resources.
Hiring? If you run a startup, you probably should be. Job growth is up, unemployment is down, and our country’s already competitive labor market is on track to tighten even further in the coming months.
Long story short: now is the time to focus on employee recruitment and retention. Fortunately— for once—you can count on the Internal Revenue Service for help. Numerous tax credits cover costs associated with hiring. In fact, the United States tax code is full of benefits and incentives aimed at helping emerging companies like yours create jobs. Check out a few ways the government will literally pay you to hire people:
One of the most common problems we see from startup founders who are first moving away from DIY accounting is a wide range of “personal transactions” being made with the business accounts. This is known as “commingling your books” and is a huge no-no as well as one of the most common ways businesses find themselves on the barrel end of an IRS or state audit.
Today is May 1st, which is International Worker's Day. It started as a movement for a shorter work day, along with higher wages and the right to organize. And it seems like a great opportunity to talk payroll!