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Member of Russell Bedford International, a global network of independent professional service firms.
If you asked entrepreneurs to make a list of everything they think might one day pose a threat to their company, you’d probably hear a variety of answers. Some might be (rightfully) worried about ultimately developing a product in search of a marketplace. Others may be worried about how they’re going to overcome cash flow issues. And some may still be worried about getting “taken for a ride” by the venture capital people they’re putting so much of their faith in. While all of these are understandable concerns, there’s one that’s often missing from the list: cofounder conflict.
While it’s absolutely true that founding a business with at least one other person increases your chances of becoming a success, it’s equally true that about 50% of cofounder relationships fail, and most of those failures aren’t pretty.
That’s because cofounder conflict is very real and far more common than many people assume. But by taking the time to learn as much about it as you can, you put yourself (and your colleagues) in the best position to mitigate risks from these issues as much as possible — before it’s too late.
Cofounder conflict can happen for a myriad of reasons, and not all of them are going to be immediately obvious. Sometimes when you start a business with someone else, you don’t realize just how incompatible your managerial styles are because you’ve never had the chance to put them on display. But once your startup is up on its feet and real decisions are being made on a daily basis, you might discover that you and your cofounder have two very different working styles.
Other times it comes down to the fact that roles and responsibilities among cofounders are not clearly defined. Who is actually supposed to be doing what? What is your specific job description and how does it overlap with that of your cofounders? What boundaries are in place that give each of you your necessary space, but that also allow you to truly collaborate with one another in the way you need to run a successful business?
Another issue, and arguably the biggest issue, could be the absence of stipulations on how significant future changes affect the management and control of the business. Without a buy-sell agreement and succession plan in place, your business is at risk if any major event — like your partner’s death, divorce, or bankruptcy — may occur.
Remember that being an entrepreneur and founding a business with someone else ultimately requires a fair amount of give and take. Therefore, once you start to see conflict develop, don’t be afraid to address it head-on. But also understand that you must be willing to make compromises, too. Don’t just spend time identifying problems with someone else, rather, offer up solutions of your own.
In terms of mitigating some of these potential risks, a buy-sell agreement can be very effective (and should be viewed as a necessity). This legally-binding document spells out how the assets and business interests would be distributed if an owner leaves the business, becomes disabled or passes away.
Consulting with a tax and accounting professional during the process of negotiating a buy-sell agreement can be very beneficial for all parties involved. The team at Cray Kaiser has facilitated several buy-sell agreements and would welcome the opportunity to help you and your cofounder(s) with yours. Please contact us today at 630-953-4900 to get started.
Successful entrepreneurs need drive, passion, the will to follow things through, and the hustler’s spirit that enables you to constantly try that new thing or relentlessly chase that next big opportunity. Not all entrepreneurs are numbers people, and that’s okay, because there are plenty of numbers people out there willing to offer support.
But whether you’re a serial entrepreneur or simply looking to grow your small business to a sustainable level, it’s crucial to have an understanding of your venture’s financial results. While small businesses don’t require the same horsepower in their accounting department—or even require an accounting department at all yet—as large companies and quickly-growing startups, it’s still integral for entrepreneurs of all calibers to have an iron grip on their financial controls, processes, and results to prevent roadblocks.
Your business financials aren’t solely about how much revenue the company has brought in stacked up against your expenses, or how many strategic maneuvers can be deployed to minimize your business tax burden. Understanding your key ratios, terminology, and the stories behind your numbers (and having the right accountants and advisors who can help you interpret them) will take you from simple compliance to long-term stabilization that allows you to grow your business.
And not only that, but where is it going? It can seem like operations are running smoothly because cash is regularly deposited, the bills are paid, and imminent tax filings don’t feel like a shakedown where you have to scramble to get the funds together. But while your bottom line might look good on your next attempt to raise capital, you could find yourself in hot water if it turns out that only one client constitutes most of your revenue. If that client goes out of business or otherwise decides to stop or reduce their payments, it could be significantly harder to pay back the loan you took out or demonstrate to your investor that you’re worth the investment.
Demonstrating that you can make a profit is important for raising capital, but raising capital isn’t a be-all and end-all. The time that you spend trying to qualify for loans, grants, and outside investment might be better spent getting more clients, users, views, income-producing property, or other important revenue drivers first. This could prove to be even more important than trying to keep your burn rate (cash outflow) under control. Constrained cash flow is usually why most companies fold within the first two to three years of operation, and often gets overlooked by busy entrepreneurs focusing primarily on raising funds or posting an impressive profit.
In your quest for capital, your focus is likely to be directed toward the numbers investors are going to pay attention to: margins, profit generated relative to the capital you already invested, and how many users you have. But in being transparent about your finances, you’re not just being compliant with the law, you’re also giving a more accurate picture of where your business currently is and where you expect it to go.
Early stage companies are more likely to get investment less from promising financials and more from showing promise with the actual product and business model, so you don’t need to worry about getting the best-looking numbers to show. Banks, on the other hand, have stricter requirements for loan repayment and will be more stringent concerning financial compliance. They will want to see a proven track record and put more emphasis on your profit than growth potential, especially if you’re not a very capital-intensive business with significant collateral such as vehicles or real estate to secure the loan.
Regardless of whether you go for the more dynamic risk-taking with investor funding or the predictable repayment process with a business loan, all external capital sources will want to see proof of proper cash management even more than having stellar revenue numbers.
The ability to adequately control your cash inflows and outflows is what will help your company weather any storm. And a surefire way to make that happen is utilizing Mike Michalowicz’s “Profit First” model that changes the Revenue – Expenses = Profit expression into Sales – Profit = Expenses. While this is not an official figure to report on financial statements, it’s an excellent cash flow management mindset that helps business owners prioritize their personal and business savings so that operating expenses, expansion, taxes, and personal income are always being paid.
By “paying yourself” first, it ensures that your financial results are based on having enough cash on hand before you pay any expenses.
Any small business is required to furnish a cash flow statement to most investors and some banks, but you shouldn’t wait until you have one at the end of the month, quarter, or year. Go over your cash flow every week. In addition to expenses that could be cut or revenues that could be added or bolstered, you might have bottlenecks in your cash collection processes that could be eliminated and you hadn’t even realized it. To learn more about managing cash flow, click here.
The team at Cray Kaiser prides itself on not just being numbers people, but people people. Not only can we help you conceptualize financial results, but we can talk to you about what it means for your business and work with you to create strategies that lead to growth. Please contact us if you’d like to learn more.
Which employer-offered benefits are you taking advantage of? Do you know all of the benefits available to you? Not only do many employer-offered benefits provide impactful resources to you and your family, but some save you significant money and taxes. Below is a list of benefits that your employer may offer and the tax benefits of each. If you’re unsure of what is available to you, we recommend asking your employer for more information.
For a company that has 50 or more employees, the Affordable Care Act (Obamacare) requires the business to offer at least 95% of its full-time employees and their dependents (but not spouse) with affordable minimum essential health care coverage or be subject to a penalty. If you work for one of these larger employers and the company picks up the entire health insurance premium cost, consider yourself lucky, as the costs of health insurance coverage have risen dramatically over the last few years.
The tax-free benefit of what the employer covers is valuable. If you aren’t aware of the value of this nontaxable employee benefit, you can look at your Form W-2, box 12a, code DD, which shows your share of the cost of employer-sponsored health coverage.
Although some larger employers may provide a company-funded retirement plan that will pay you a monthly benefit when you retire, most generally offer 401(k) plans with which an employee can save for retirement by making pre-tax contributions of up to $19,500 for 2020. And if the employee is age 50 or over, they can qualify to make a catch-up contribution of up to $6,500, bringing the total to $26,000. Some employers also match their employees’ contributions up to a certain amount, which means an employee should endeavor to contribute at least the amount that the employer will match.
Certain transportation-related fringe benefits that an employer may provide to employees are tax-free to the employee, and the employer can deduct the cost. For 2020, the limit on tax-free employer reimbursements is $270 per month each for qualified parking, transit passes, and commuter transportation.
This is a special account established by an employer that allows employees to contribute to the account through salary-reduction contributions. The benefit is that the contributions are pre-tax, meaning the employee doesn’t pay taxes on the money contributed to the account. The FSA account can be used to pay for health plan deductibles, co-payments, and even some over-the-counter-medications with pre-tax dollars. The annual limit on contributions is inflation adjusted and is $2,750 for 2020. However, if you don’t use the money in your FSA, you’ll lose it.
The cost for the first $50,000 of group term life insurance (GTLI) coverage provided by an employer is excluded from the employee’s taxable income. However, the employer-paid cost of group term coverage in excess of $50,000 is taxable income to the employee, even if he or she never receives it.
An employee doesn’t have to include in his or her income amounts paid by the employer for educational assistance under a qualified education-assistance program. The maximum amount of educational assistance that an employee can exclude is $5,250 for any calendar year. Excludable assistance under a qualified plan includes, among others, tuition, fees, books, supplies, and equipment. The education is any training that improves an individual’s capabilities, whether or not it is job-related or part of a degree program.
An employee may exclude amounts paid or expenses incurred by the employer for qualified adoption expenses connected to the employee’s adoption of a child, if the amounts are furnished under an adoption-assistance program in existence before the expenses are incurred. If the adopted child is a special needs child, the exclusion applies regardless of whether the employee actually has adoption expenses. The maximum exclusion amount is inflation adjusted annually and is $14,300 for 2020 per child, for both non-special needs and special needs adoptions. The exclusion is phased out when the employee’s modified adjusted gross income is between $214,520 and $254,520 for 2020. Taxpayers can claim a tax credit for qualified adoption expenses, subject to the same phaseout range as for the exclusion, but any excludable employer-paid expenses can’t be used for the credit.
Qualified payments made or reimbursed by an employer on behalf of an employee for child and dependent care assistance are excluded from the employee’s gross income. The amount of the exclusion is limited to the lesser of $5,000 ($2,500 for married individuals filing separately), the employee’s earned income, or the income of the employee’s spouse. A child and dependent care tax credit is available to taxpayers, but no credit is allowed to an employee for any amount excluded from income under his or her employer’s dependent care assistance program.
Employees who have a high-deductible health plan through their employer can open a health savings account (HSA) and make annually inflation-adjusted pre-tax contributions, which, for 2020, can be up to $7,100 for families and $3,550 for a single individual. When distributions are made for medical expenses, the money comes out tax-free. However, distributions not used to pay qualified medical expenses are taxable, and if the plan’s owner is under the age of 65, nonqualified distributions are subject to a 20% penalty. Some individuals let the account grow and treat it as a supplemental retirement plan, waiting until after age 65 to begin taking taxable but penalty-free distributions.
If you have any questions about how employer-offered benefits might apply to you or if you are an employer interested in providing any of these benefits to your employees, please contact Cray Kaiser.
The digital world is not only here, but it’s continuing to evolve and impact all aspects of our lives – accounting included. Last month the CK team took a trip to Silicon Valley for the QuickBooks Connect conference and we were reminded just how much technology has impacted the way in which we serve our clients. Technology has changed the way accounting departments are structured, how they communicate and the actual production of financial reporting.
The way in which we utilize technology to expand consultative services to assist our clients is the criteria that will set a firm apart from a digital firm. Here are three characteristics that signify a digital, forward-thinking accounting firm:
We are in an application (app) driven world. What used to be a wholly encompassed accounting system has been replaced with various apps that drive efficiencies within specific functionalities such as bill payments, cash flow forecasting, payroll, and much more. Those apps then integrate into well-known accounting platforms such as QuickBooks, Xero, Sage or NetSuite thus pulling all key information into one spot. Sometimes information can be communicated and reported with just a single click, resulting in a more streamlined and robust accounting software that is customized for each user.
Bank information is also typically a click away through a connected application with the financial institution. Rules and smart lists are used to record transactions and the output is posted in the form of transactions which are incorporated into the general ledger details. Both in-house and outsourced accountants can maintain the apps, understand discrepancies and reconcile accounts through the accounting system features. Therefore, selecting an accountant or accounting firm that is skilled with apps is a necessity in the digital world.
The development and utilization of apps and cloud-based accounting platforms allow for users, accountants and other personnel to work remotely. Face-to-face meetings have been replaced with video conferences, e-mails and chat platforms. The ability to facilitate verbal and written communication using these new methods is vital to the success of an organization in the digital world. The ability to get your message across in concise, easy to understand ways is imperative and a skill that will never be replaced with the newest app.
Investing in apps will reduce the time incurred on maintaining and recording detail transactions. This newly saved time can then be invested in enhanced financial reporting and data analysis. In other words, accountants are now utilized for more value-added services to research trends, project future operations, perform cash flow analysis and analyze cost saving initiatives. This allows departments to have more meaningful discussions, brainstorm and strategize for short and long-term planning. While there are various apps to assist in this regard, the real value is in the interpretation of the results that lead to significant business decisions. The opportunity to take on new investment opportunities that will strengthen your organization in the years ahead is invaluable and is not something that can be recommended by an app. It’s the true difference between a commodity-focused accountant and a forward-thinking, client-focused accountant.
Cray Kaiser continues to embrace the use of technology within the full suite of our clients’ accounting needs. We will continue to advise stakeholders with information that is one click away to allow them to manage and understand their financial data through apps and other tools. But we also remain steadfast in the ability to communicate, advise and offer best practices throughout the life cycle of your organization as you navigate the digital world.
We look forward to helping you leverage technology for the benefit of your organization. Please contact Cray Kaiser at 630-953-4900 today to get started or click here to learn about our Accounting Services.
Which of my product lines are yielding the greatest margins?
Did I earn a profit from Location A last year?
Why is my top line revenue growth not attributing to an increase in my bottom-line results?
Which of my fundraising activities were the best utilization of our resources?
As a business owner or nonprofit organization, if you find that the answers to these questions aren’t a few keystrokes away, you most likely haven’t established profit center reporting into your accounting system. And now is the perfect time to do it!
Profit center reporting is a tool that management can use to review operational profit and loss results for a department, branch, product line, location or activity. It will also provide more meaning to overall profit and loss statements as it allows you to dissect the operational results into meaningful data that can be used in strategic planning.
You may not know that many accounting systems, such as QuickBooks, have the capability to track this type of operational data for you. It is usually an option that can be simply activated and requires little set up. Your accountant can help you with set up if you need additional assistance.
Once profit center reporting is made available, the transactional processing, sales, and billing functions will need some tweaking. Each transaction, activity, product or service item needs a profit center code to provide the revenue stream for the reporting. This can usually be captured as you set up the individual sales categories or lists in your accounting system.
Segregating the cost structure for the profit center reporting may be more complex because there will be different categories of costs to consider. For instance, some costs are tied directly to a profit center and others are general in nature and may relate to several profit centers. These general costs may need to be grouped together and allocated into the profit centers on a monthly basis through a general journal entry. Your accountant can assist you in determining a reasonable basis to allocate such costs in order to provide you with meaningful data.
Generating reports by profit center is a byproduct of your transactional processes. With profit center reporting in place, management will be able to compare select profit centers to identify which units provide the highest sales volume, why different locations’ cost structures yield different results, and how both of these attributes affect the overall entity’s operational results.
Through this process, management can:
With a few changes to your accounting system structure and transactional processing, a wealth of data can be at your fingertips. The information gleaned through profit center reporting will assist you in understanding your operational activities more clearly, allowing you to make informed decisions and initiate strategic planning. Please contact Cray Kaiser if you’d like help setting up your profit center reporting or click here to learn about our Accounting Services.
According to the Association of Certified Fraud Examiners, nearly 30% of businesses are victims of payroll misconduct, with small businesses twice as likely to be affected than large businesses. Here are four payroll fraud schemes that every business should be aware of:
A ghost employee does not exist anywhere except in your payroll system. Typically, someone with access to your payroll creates a fake employee and assigns direct deposit information to a dummy account so they can secretly transfer the money into their own bank account.
Time stealing happens when employees add more time to their timecard than they actually worked. Sometimes multiple employees will work together to clock each other in earlier than when they arrive or later than when they depart for the day.
In an attempt to bump up a commission payment or attain a quota, sales employees may alter a sales contract to their benefit. A typical tactic used by a dishonest salesperson is to make a booked sale appear larger than it is and then slide a credit memo through the system in a later period. Companies with complicated commission calculations or weak controls in this area are the most vulnerable.
A popular scam, known as phishing, starts with a fraudster impersonating a company executive through email or over the phone asking an employee with access to payroll data to wire money or provide sensitive information. These imposters can make the correspondence look very real by using company logos, signatures and email addresses.
Being aware of these types of threats is a start, but you also need to know how to prevent and stop them. Here are some tips to reduce your company’s payroll fraud risk:
1. Create better internal controls – While most employees are trustworthy, giving too much control over your payroll to one person is not a good idea. Separating payroll duties and formalizing an approval process protects both your business and your employees.
2. Review payroll records – Designate someone outside of the payroll-processing department to periodically review the payroll records. Have them review names, pay rates and verify that the total payroll matches what was withdrawn from the business bank account.
3. Perform random internal audits – An internal audit is when you can really get into the details to look for potential payroll fraud. You can do an in-depth review of the whole payroll system or select a random sample of dates and employees. Keep the timing of the audit under wraps to prevent giving someone the chance to cover up their misdeeds.
Managing your business payroll is a daunting task by itself, and actively protecting against fraud adds additional complexity. If you need assistance creating internal controls to prevent payroll fraud schemes, please contact us today. You can also click here to learn about our Accounting Services.
In Cray Kaiser’s first audio blog, CK Principal Deanna Salo shares the journey of a closely-held business as they craft their buy-sell agreement. When the owners of the company were looking to exit, they decided it was time to dust off their original buy-sell agreement from the 1980s. What followed was a two-year process of education, emotion, and collaboration, ending with the signing of their brand-new buy-sell agreement.
As Deanna tells the story of this business’ journey, she gives insights into why buy-sell agreements are so important, what timing might look like in the process, aha moments that business owners often experience, and common questions she’s asked about buy-sell agreements.
Click below to listen:
If you have questions about your company’s buy-sell agreement or would like assistance putting one together, please don’t hesitate to contact Cray Kaiser today.
It’s hard to believe that summer is in full swing and in just another few weeks we’ll be at the halfway point of 2019! The first quarter of the year focused on getting the financial reporting and tax returns filed for the previous year and the second quarter was spent getting the current year up-to-date. Before we knew it, we were transacting business as usual. Somehow those goals of cleaning up accounting records became long forgotten. But we’re here to remind you not to forget the importance of accounting clean up projects!
It’s vital to get your accounting cleaned up before the year-end activities kick in and this is the perfect time of year to do it. Below are a few accounting projects you may want to consider taking on over the next few months. In the end it will set you up for success come December.
When was the last time you reviewed your record retention policies? If you are like many organizations, you retain hard copies until space runs out, then you look to discard old items. However, this may subject you to added scrutiny when you are unable to produce key documents for your business. The IRS and AICPA have guidelines to help you in formulating your record retention policy. We recommend that you formalize your current policy utilizing both physical and electronic storage. Remember, the goal of record retention is to be able to retrieve key documents in a reasonable period of time and this should be considered as you formalize your policy.
Your accounting records should be locked down for the previous year so no additional changes can be made to the year-end balances. If not done already, you should request a copy of year-end adjusting journal entries and a trial balance report from your accountant. These adjustments need to be recorded in your accounting system and a process needs to be performed in which you are able to lock the period so that additional changes cannot be made. Depending on the accounting system you are using this may be as simple as setting a password for the file. Doing this will provide assurance that you are starting 2019 with accurate balances.
Each year certain adjusting journal entries are recorded such as depreciation/amortization, prepaid expenses, and certain accrual items. Many of these adjustments can be maintained throughout the year to normalize your operating results and to help you to forecast year-end results. Reviewing the year-end adjustments prepared by your staff or an outside accountant is one way of identifying potential standard journal entries to record throughout the year.
It’s always a good idea to take some time to review the chart of accounts you are using to summarize your financial reporting. Are there significant accounts that you have to dig into the details to understand the fluctuations from one period to another? If so, it may be time to create accounts or sub-accounts to appropriately track certain transactions so that you can easily monitor fluctuations.
Do you have accounts set up to handle the record keeping for the various stages of your operating processes? For instance, are you tracking raw materials, work in progress and finished goods? If not, you may want to consider adding accounts and journalizing the flow of the inventory process.
Now is a good time to take an inventory of your outstanding agreements and contracts to identify any key performance requirements that you must meet to stay in compliance with the established terms. Often times, bank financing has compliance requirements such as ratios and bank balance levels that must be met on a monthly, quarterly or annual basis. Do you have processes in place to monitor the compliance of these key performance requirements? Routinely performing a review of these requirements will allow you time to make any necessary corrective actions in the event the requirements will not be met.
By being proactive and keeping your accounting organized now, you’ll be in the best position possible when it comes to closing out the year and preparing for taxes next spring. If you have questions or would like assistance with any of these accounting clean up projects, please don’t hesitate to contact Cray Kaiser today!
Click here to learn about Cray Kaiser’s Accounting Services.
Major life changes are an exciting and emotional time. But with the positive changes, there can sometimes be challenges too. If you’re facing a change in your life in the near future, have you thought about what the tax implications might be? Below are four examples of life changes that can have complicated effects on taxes that come with them:
Whether it’s a new, exciting opportunity or the result of being laid off, a job change is going to affect your tax obligation. The termination of your previous job likely adds additional taxable income in the form of accrued vacation or a severance package. Review how your former employer handles tax withholdings, especially for big payouts. Your new job also brings new tax implications with a new salary, new benefits and possibly different taxing jurisdictions if you also move to a new location.
The extra money you earn when adding a second job or business also brings extra taxes. How much additional tax this second income creates depends on your specific situation. Employment status, type of business, and how it relates to your other tax activities need to be considered. The extra income alone can send you into a higher tax bracket.
Your retirement plans and timing of retirement plan distributions play a big role in how much tax you will pay on your retirement earnings. For example, with traditional IRAs, there are early withdrawal penalties before you reach age 59½ and required minimum distributions after reaching age 70½ years old. For Social Security, collecting benefits early means less in monthly benefits and potentially a higher tax obligation if you have additional earnings. Each source of retirement income has its own set of taxation rules which can create a very complicated tax environment.
When selling a house or other residential property, the first thing to determine is whether it’s your primary residence. If so, the IRS provides an exemption from tax for up to $250,000 ($500,000 for joint couples) of the gain realized from the sale of your home as long as you lived in it for at least two of the previous five years. Any gain above the exemption is subject to capital gains tax. If the property you are selling is not your primary residence, capital gains tax applies, and you also have to deal with other more complicated tax code issues.
We hope this helps you become more aware of how your tax situation might change in the future based on any decisions you make in your personal or professional life. Always remember to carefully weigh your options and speak with your accountant if you’re unsure about how a future decision will impact your taxes. Contact Cray Kaiser if you have any questions.
The benefits package that your company offers is extremely important to your employees. How important? A survey performed by the Society of Human Resource Management (SHRM) found that benefits are directly tied to overall job satisfaction for 92% of employees. More importantly, 29% of employees cited the overall benefits package at their current employer as the top reason to look for new employment in the next 12 months.
So, what can you do to keep your employees satisfied when it comes to their benefits package? Here are a few tax-free ways that you can help bolster your benefits package and retain your staff:
According to SHRM, health insurance still remains one of the most important employee benefits. Health insurance benefits come in all shapes and sizes, so you will need to constantly evaluate plans and costs. From a tax standpoint, employers can deduct this expense, and your employees do not report health insurance premiums or employer contributions to health savings accounts (HSAs) as additional income. This includes premiums paid for the employee and qualified family members. Even better, the employee portion of premiums can still be paid in pre-tax dollars.
Employers are able to provide employees with up to $5,000 per year in tax-free dependent care assistance under a qualified plan. There are a few ways to provide this benefit, but a common method is to set up a flexible spending account (FSA) that both the employer and employee can use to make contributions. The employer portion is tax-free, and the employee portion reduces taxable income as long as the total benefit is $5,000 or less.
By offering tuition reimbursement, you can add another quality benefit to your package while investing in your employee’s career. Up to $5,250 of tuition expenses can be reimbursed tax-free to your employee each year.
This is a good benefit for outside sales or other employees that travel frequently. If you have a corporate credit card program, consider passing the points on to the employee. If you reimburse employee expenses under an accountable plan, estimate the value of points your employee earns on reimbursed business purchases and include it in your annual benefits presentation. Generally, the IRS considers credit card points as rebates and not taxable income.
You can generally exclude the cost of up to $50,000 of group term life insurance from your employee’s wages.
Some examples of other nontaxable fringe benefits are employee wellness programs, onsite fitness gyms, adoption assistance, retirement planning services and employee discounts.
The IRS calls these “de minimis” benefits. Small-valued benefits are not included in income and can include things like the use of the company copy machine, occasional meals, small gifts and tickets to a sporting event.
With historically low unemployment levels, employees have more options than normal to look around if they aren’t satisfied in their current position. The benefits package you offer is an important tool to help you retain your valued employees. While each is an additional expense to the employer, the perceived benefit by employees may far outweigh these costs. If you have any questions, please contact Cray Kaiser today.
