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BusinessHub

SWBC's BusinessHub blog is a one-stop resource for business owners and company decision makers.

 

4 Pitfalls to Avoid When Protesting Your Commercial Property Taxes

This is the time of year that commercial property owners tend to dread—the deadline for filing property tax protests. May 15 (the protest deadline) is right around the corner, and however inconvenient it may seem to deal with the hassle of protesting, it is worth the cost savings—if you engage an experienced, knowledgeable property tax consultant. The fact is, according to the National Taxpayers Union Foundation, about 30-60% of taxable properties in the U.S. are over-assessed, so there is a good chance your commercial property(ies) are, too. If you decide to be one of the 5% of taxpayers that actually challenge their tax assessment with your local appraiser, here are a few pitfalls to avoid when protesting your commercial property taxes:

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5 Ways to Build a Successful Internship Program

Let's be honest, we've all worked at companies where college interns are thought of as the bottom man or woman on the totem pole. You may have even been at the bottom of that totem pole yourself some time ago! Interns are asked to do the most minuscule tasks like grabbing coffee, filling up the copier with paper, sorting mail, and anything else you can imagine. Although these tasks need to get done, could your intern be utilized in a way that is more impactful and beneficial to your company? Here are a few things to keep in mind when hiring your next intern to help you can build your very own successful internship program.

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6 Deductions to Lower Your Tax Bill

We are in the thick of tax season and while many Americans and CPAs are losing sleep over the heaps of paperwork and documentation they will prepare for the IRS, small businesses with potential skeleton accounting departments may be relying solely on out-of-the-box software programs to help them generate the most tax deductions and savings. While these programs help millions of businesses manage their business' day-to-day accounting operations, it's important that business owners are aware of all of the different deductions that may be available to them--after all, any savings earned are opportunities to invest right back into your business or your employees. Whether you plan to file your taxes yourself this year or work with a CPA or tax advisor, here are 6 tax deductions you can leverage to lower your tax bill.

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Three Benefits of Business Exit Planning

Through my work as a business advisor, I've seen firsthand that business owners have plenty to do. You're running your business, taking care of your home and family, and trying to attend to other responsibilities. Often, this existing to-do list is the reason business owners give for not pursuing exit planning. You may be unsure if it can help address important issues without taking up the little time you have remaining.

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How Employee Diversity Benefits Your Business

Companies strive to stay competitive either through the products they sell or through superior customer service. But, with stiff competition, particularly on the recruiting front, there’s another way companies across America are trying to stand out—hiring a diverse workforce. So, what does a diverse workforce look like and how can your company benefit from it?

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[Case Study] Hill Country Pain Associates

Laura Paredez, Director of Business Services for Hill Country Pain Associates (HCPA), manages the day-to-day operations and activities, and ensures that the business is run financially sound. In her role, Laura oversees all matters from vendor management to payroll administration. With a practice of 27 full-time employees and one part-time employee, HCPA brings with it its own set of employee considerations, of which by no means falls short of HR-related inquiries.

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6 Signs You're Overpaying for Property Taxes

It's the time of year when consumers and business owners alike are turning a blind eye to the pending date on the calendar: April 15. In the case of business owners with commercial property tax bills due, that date you may be shielding your eyes from is May 15—the deadline for filing property tax protests. If you own commercial property, your annual tax bill is likely a substantial expense. Unfortunately, according to the National Taxpayers Union Foundation, around 30-60% of taxable properties in the United States are over-assessed, which—you guessed it—equals higher tax bills. Sadly, even though most consumers and businesses are overpaying due to inaccurately calculated properties, it’s predicted that less than 5% of taxpayers are challenging the assessment. Are you curious if your business is overpaying? Check out the list below that features 6 sure fire ways to help you determine whether our not you're overpaying on your commercial property taxes.

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5 Steps to an Effective Benefits Communication Program

Offering your employees competitive health benefits is only half the battle. After you’ve shopped around to find a plan that works for your business, your employees, and your budget, the next obstacle you face is effectively communicating the plan benefits to your employee base. It can be a time-consuming task so we’ve compiled a list of helpful tips and best practices to help you streamline the success of your benefits communication program.

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Every Bit of Information Counts

The terms cyber security and cyber breach have become quite the common business "lingo" these days. It’s hard to browse the internet without reading a story about another company or retail establishment being hacked with millions of customer data points compromised. And, no matter if you’re a small business, big box retailer, Marriott or even a Manufacturer—you’re not safe.

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Death Can Ruin Your Business Plans

Imagine building your business over several decades, starting to plan your business exit, then dying unexpectedly before you can implement your plans. Business owners rarely think about how an unexpected death or permanent disability can derail even the most carefully created plans. When you think about it, this makes sense: if you were always worried about what could go wrong, you probably never would have started your business in the first place.

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