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CEO FOCUS: Support Small Businesses, Key Drivers of Economic Growth
National Small Business Week [which ran May 2-6, presented] a time to recognize the critical contributions of America’s entrepreneurs and small-business owners. In the Syracuse metro area, small businesses with fewer than 100 employees represent about 11,500 companies, which employ more than 80,000 people and contribute over $3.5 billion in annual payroll to the local […]
VIEWPOINT: New state law bars colleges from withholding transcripts of indebted students
On May 4, 2022, Gov. Kathy Hochul signed into law A.06938B, which amends New York State Education Law. It adds a new Article 13-C; §640, which prohibits degree-granting institutions and licensed private career schools from withholding transcripts of students who owe a debt to the institution. It is also unlawful under §640 for institutions to condition
Ask Rusty: About the Earnings Test & Taxation of Social Security Benefits
Dear Rusty: I’m 63, married, and we file a joint tax return. If I claim Social Security (SS) now and keep working and earn $7,000 more per year than the annual limit of $19,560, I know I’d have benefits withheld at the rate of $1 for every $2 over the limit ($3,500). But if I
NONPROFIT MANAGEMENT: Is Your Employee Retirement Plan Compliant?
We are approaching the time of year where we dust off our employee retirement plans and auditors show up to ask us all sorts of questions about the plan and test a sample of contributions. Once that audit is complete, we can shelve our plan and not dust it off again until the next year. Of
VIEWPOINT: Digital transformation is imperative to combat health care’s labor crisis
As the coronavirus pandemic first spread across the globe, health systems turned to technology and virtual care while focusing their efforts on COVID-19 and its consequences. Physicians deployed digital tools to keep the worried well out of hospitals, to keep beds open for COVID-19 patients, and to support and manage conditions like pregnancy from the safety
VIEWPOINT: Five Steps for N.Y. employers to save on health-care costs
When it comes to offering health benefits to employees, every employer has two primary goals: improve coverage and lower costs. Achieving those goals may help encourage a healthier workforce, while reducing absenteeism and presenteeism, both of which can sap productivity and make an employer less competitive. Importantly, medical care ranks as the second-largest expense (behind
CEO FOCUS: Mitigation Plans Needed to Limit Disruptions during I-81 Project
The final environmental-impact statement for the I-81 project [has been released] by the New York State Department of Transportation and the Federal Highway Administration (FHWA). This is a critical next step in advancing this $2.2 billion investment in our community to transform a major transportation asset and reconnect parts of our city that have been
VIEWPOINT: A Digital World: What’s in Store for Central New York
As the effects of the coronavirus continue to reshape our world, the next year will see several factors accelerating the shift to a more digital, hybrid future. We expect to see a continued focus on digital transformation as the driving force creating value for business owners. Below are some considerations of what will come next —
Ask Rusty: Please Help Us with Social Security Planning
Dear Rusty: Would you please advise on mine and my wife’s Social Security (SS) planning? I’m age 69 and 2 months, my wife is age 66 and 2 months, so we both hit full retirement age. We both plan on starting to take SS next month. My benefit would be about $3,300 per month, and
NONPROFIT MANAGEMENT: Why is Cash Management Important to your Organization?
We have all heard the age old saying, “cash is king.” When the pandemic first started, many tax-exempt organizations were concerned with cash flow and making it through what was first thought to be a month or two. Organizations were closely monitoring their cash flow, even going as far as preparing daily cash-flow projections. Then the
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