The pandemic has thrown businesses into a never-before-seen scenario that has upended how they operate. Many businesses that were thriving before the pandemic now find themselves having to make difficult decisions, including whether to furlough or lay off employees. This task is not as simple as cutting payroll. Other factors must be considered. For example, furloughed employees are treated differently than laid-off employees when it comes to employee benefits.
If you need to access your money in the near future, you'll want a good short-term investment. What are the best ways to maximize profits and minimize risk if you want to invest the extra cash you have?
When the COVID-19 pandemic was declared a national emergency earlier this year, it triggered Section 139 of the Internal Revenue Code. Under Section 139, employers can provide tax-free payments or reimbursements to employees for certain expenses associated with a qualified disaster — such as the COVID-19 crisis.
Traditionally, strategic planning provided a road map for a future that was fairly predictable. The pandemic changed that in a dramatic fashion. Today’s business landscape is fraught with uncertainty, yet we are finding ways to deal with a new normal that is still a work in progress.
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