Small Business: Hiring & human resources
A father-son company seeks advice on formalizing roles and building a sustainable structure for growth.
James, Miami, Fl.
I am part of a small family-owned drywall contracting company, with previous experience in estimating potential projects. My father is the other half of the company, as he has experience in field work. We have experienced some success already, but I'm looking to create structure in our company and lack the experience to do so. What are the steps that I need to take to create clear-cut roles that I should follow? Do my dad and I need to assign responsibilities that we each stick to? Read more…
Health Savings Accounts are gaining popularity, but business owners need to take a close look to see if the low-cost, high-risk plans are right for their company.
Normand Savellano, Chino Hills, Calif.
I am president of my own company and my wife is vice-president. We pay ourselves a salary and get our health insurance through the corporation. Are we eligible for an HSA and for the corporation to contribute? Read more…
Experts share tips and tricks to prevent work from eating family time.
Claudino Petruccelli, Owner, Petruccelli Pasta, Ridgewood, N.J.
My wife and I are selling our food business. Although we're exhausted emotionally and physically, we want to start another company – but not to the detriment of our three young children. How do successful owners manage their businesses without wrecking their home lives?
You can still cut back without shedding staff. Here's how.
Avery Wasoleck, Partner, Lane Office Furniture, New York City
When costs need to be cut, the first thought is often employee layoffs. Is there a more creative way for my business to achieve savings?
Debbie, Harland Clarke, Blaine, Minn.
Is it possible to up the insurance premius for smoker employees in some divisions of the company and not others?
Jeremy, Phoenix
I own and operate a small residential and commercial cleaning company. I want to grow it as big as I can. How do I go about hiring people (considering this isn't a career for the vast majority of individuals). Also, considering gas prices are substantial, I'm assuming I'll have to increase overall wages per hour, correct?
David Armstrong, Armstrong Fence Co., Pembroke, Mass
Is there a formula to help me determine how much more costly it is to pay overtime to complete a job the same day vs. going back a second day for a short period of time?
Susan Kelley, Kellsson Linens Inc., Denver
Currently I have a traditional health insurance plan for my business partner and myself. However, I hardly use my insurance, while my partner uses all of his and more. I would like to change from this tradtional health insurance into either a Health Savings Account or Health Reimbursement Account, but find it difficult to get information in regards to how these plans operate, and which would be most beneficial to the company and/or to each of us personally. Can you breakdown these 2 plans, with the pros and cons of each plan, so I can make a more informed decision before our current insurance renewal date?
Uninvolved owners can receive profit distributions instead of salaries, but mind the legal and financial fine print.
Antonio Costa, West Palm Beach, Fla.
I have two uncles living in Florida who co-own a successful business up north. Although they stopped running day-to-day operations about four years ago, they still receive full salaries. Because they no longer run the business, can their salaries become dividend payments instead? Can they still receive dividends if the S-corp shows a loss?
Mary Hardenbergh, Northville, Mich.
I run a a temporary staffing company. Clients often want to hire my consultant for the position we are temporarily filling. What is an appropriate "finder's fee" that should be charged to the client, considering they are taking one of my independent contractors?
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