Update: Governor Inslee signed this legislation on May 9, 2019, making it law. Changes will go into effect on January 1, 2020. Washington’s State’s Governor Jay Inslee is very likely to sign a new bill regulating non-competition agreements. The new law places restrictions on which workers can be subject to non-competition agreements and specific terms.... View Article
We all know that ‘cash is king’ but as business owners, it seems that we really should be focused on profit, right? Profit is what we get to reinvest back into growing our businesses or, better yet, take home. Last week, I attended the Profit Mastery program, which provided a fantastic and stark view of how... View Article
Over the past few years, the emphasis on employee engagement and happiness has been forefront in the business news and best practices. And though more companies are realizing Ping-Pong tables aren’t essential for workplace happiness, there’s certainly value in creating a ‘fun’ work environment to boost employee engagement. Whether your company’s incentives are fun or financial... View Article
Rideshare companies Lyft and Uber have announced stock ownership opportunities for their drivers as part of their IPOs this spring. In an effort to build driver loyalty, the programs offer the drivers cash bonuses that allow them to subscribe to shares of the company’s stock in advance of the IPO. This is an unusual structure... View Article
Tax season is upon us. Americans and their advisors are trying to sort out the nuances of the recent federal changes including the Tax Cuts and Jobs Act (TCJA) of 2017 that applies to this year’s filings. However, the TCJA isn’t the only regulation complicating filings for businesses this year. New IRS rules regarding audits... View Article
We hear it all the time — “I want employees to think like owners”. This desire by business owners to align employee behavior with the objectives of owners often results in compensation and other incentive plans that mimic the financial results that owners receive. Stock ownership, options, stock appreciation rights, phantom stock, and profit sharing... View Article
Business owners are notorious for excelling at doing the work. Often, they start their businesses because they’re good at what they do and customers like working with them. As the business grows, they find themselves overwhelmed — trying to both do the work and run the business. The logical next step is to hire some... View Article
Although just introduced by the Washington state legislature on January 23, Senate Bill 5513 (SB 5513) is causing concern and confusion for many Washington business owners. The bill, if passed, creates the Employee Fair Classification Act (EFCA), would change the definition of independent contractors — greatly impacting businesses that employ independent contractors based on the... View Article
The Seattle area is experiencing unusual amounts of snow which has caused businesses to lose money. They either can’t open their doors to serve clients because employees are unable to get to work, or a loss of power, or their clients have canceled events, appointments or projects. In each of these cases, the businesses have... View Article