July-August 2019

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here are plenty of people out there sharing their views on business and finance, and offering ideas on how to best manage your business. Only a handful, though, routinely offer solid advice. Here are two that stand out from the pack and are worth reading. First is Gene Marks, CPA, small business expert and author. He appears regularly on MSNBC and Fox News as well as The John Batchelor Show and SiriusXM's Wharton Business Channel where he talks about the financial, economic and technology issues that affect business leaders today. Second is Brian Beaulieu, CEO and principal, ITR Economics. He has been making economic predictions for the Institute for Trend Research (ITR) for over thirty years. The firm asserts their overall forecast accuracy since 1985 is 94.7% at one year out. 30 PalletCentral • July-August 2019 P aid time off for vacation, sickness, or family leave is among the most requested employee benefits. But not enough employers are getting the message. That was the conclusion of a 2018 study of more than 1,000 employees nationwide conducted by T-Sheets, a subsidiary of accounting software maker Intuit. The survey founded that although three-quarters of American workers say it's very important for employers to provide paid vacation, sick time, or holidays, almost a third of companies (31 percent) don't provide paid time off at all. How does your small business compare? The problem has become significant enough that governments are stepping in. Many states and cities are requiring employers to provide mandatory time off for sick employees or those needing family leave. Currently, neither Delaware nor Pennsylvania requires this of employers (although legislation is proposed in Pennsylvania). The City of Philadelphia requires its employers to provide one hour of sick time for employees for every 40 hours they work, to a maximum of 40 hours annually. New Jersey requires employers to provide one hour for every 30 hours worked, up to 40 hours of time per year. "We are seeing states propose – and, in some cases, pass – comprehensive paid family and medical leave," says Mike Trabold, director of compliance risk and human resources at payroll processing firm Paychex. "We are also watching an emerging trend: providing paid leave to eligible employees in which employees may use the leave for any reason – much like they would vacation/PTO. Nevada and Maine have both passed legislation this year, and New York City is considering similar legislation." Federal paid parental leave has also been a part of President Donald Trump's last two proposed budgets, but the legislation has failed to gain congressional approval. Two Blogs Worth ECONOMY T A Paid Time Off Policy can Attract Workers. Does Your Business have the Right Policy? By Gene Marks

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