Category Archives: Business Plans

Should your business reopen? Five questions to ask yourself.

June 8, 2020 | Business Plans

Maine has begun the reopening process for some of the businesses that were forced to close due to COVID-19. As the summer goes on, and we enter the other phases of the reopening plan, even more will be permitted to open their doors. But just because your business can (or soon can) open, should it?  Continue Reading »

COVID-19 Pandemic Poses Complex HR Policy Questions

March 30, 2020 | Business Plans

The COVID-19 pandemic has wreaked havoc on the economy and health of Maine, the country and the entire world. With the city of Portland instructing residents to stay home, and Governor Janet Mills ordering all non-essential business in Maine to close, both employers and employees have countless questions on how this crisis impacts their business  Continue Reading »

Common Questions About Family Medical Leave Policy

March 2, 2020 | Business Plans

Though it has been in place for decades, the Family and Medical Leave Act still creates questions for employers and employees alike. For this reason, the Administrator of the Department of Labor’s Wage and Hour Division (WHD) periodically responds to new Family Medical Leave Act (FMLA) compliance questions. Below is a sampling of some recent  Continue Reading »

What Employers Should Know about HSAs

December 9, 2019 | Business Plans, IRS Regulation, Tax Planning, Tax Preparation

With unemployment at record lows — both here in Maine and across the nation — retaining and attracting employees is a high priority for many business owners. So as the year winds down and you look ahead to 2020, one way you can address this issue is by improving your employee benefits, which may include  Continue Reading »

New Bankruptcy Relief Coming Soon

October 28, 2019 | Accounting Standards, Business Plans

Even as companies continue to grow in size in the Portland area, small businesses continue to be a major part of the economy in the region and throughout Maine. Anyone who runs a small business knows that it’s not easy, and sometimes it can be hard to make ends meet. If you happen to be  Continue Reading »

How to Benefit from the Rising Average Age of American Workers

June 10, 2019 | Business Plans

According to the U.S. Bureau of Labor Statistics, one in five workers is aged 55 or older. By 2026, that number is expected to be one in four — meaning the proportion of young workers in the overall labor pool will shrink. In a state such as Maine — which, according to the U.S. Census  Continue Reading »

If Adopted, Overtime Pay Rules May Expand to More Employees

April 1, 2019 | Accounting Standards, Business Plans

Under the Fair Labor Standards Act, salaried employees whose job duties are executive, administrative or professional (EAP) in nature and who earn at least $455 per week aren’t eligible for overtime — no matter how many hours they work. Because of this, small business owners in the Portland-area and across Maine often decide to pay  Continue Reading »

Making Smart Mergers and Acquisitions under Today’s Tax Law

March 1, 2019 | Business Plans, Financial Planning

Thanks to the Tax Cuts and Jobs Act (TCJA), many businesses in Maine and beyond will pay less federal income taxes in 2018 and going forward. Some of these will spend their tax savings to merge with or acquire another business. Before jumping on the M&A bandwagon, you do need to understand how such transactions  Continue Reading »

E-Discovery Can Make or Break a Case

August 17, 2018 | Business Plans

Electronically stored information (ESI), whether emails, spreadsheets, text documents, or others, is routinely requested as evidence in lawsuits. Destroying that data, or being unable to produce it during the discovery process, can result in some harsh legal penalties. Misconduct during e-discovery includes deleting, destroying, or otherwise not following court orders to preserve electronically stored information.  Continue Reading »

Is an Association Health Plan Right for Your Company?

August 1, 2018 | Business Plans

Association health plans (AHPs) are health benefit policies made available to small employers through a group purchasing arrangement to the benefit of association members and their employees. Last October, the Trump Administration started to develop AHP’s as an alternative for employers to provide health insurance to their workers. Under the previous rules, AHPs were only available  Continue Reading »