Loyalty Goes out the Window When Money Comes in the Door
A recent survey of managers shows company loyalty ends abruptly when someone wins the lottery. Asked if they would continue to work after having enough money to live on comfortably for the rest of their lives, managers -- by a three to two margin -- said they would not stay in their present jobs. This ratio has more than doubled since 1955 when it was found only 14 percent would quit work
altogether.
Small Firms Get SIMPLE Pension Plan
The federal government has a simplified pension plan for firms with 100 or fewer employees called SIMPLE. It's the Savings Incentive Match Plan for Employees. Workers can defer up to $6,000 of salary in SIMPLE, but employers must either match up to three percent of the pay workers set aside, or contribute two percent of pay for all employees.
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Tax Break for Samples at Home
Federal tax law changes include a provision for salespeople to deduct the cost of storing their samples at home, somewhat like home-office deductions for inventory. However, to qualify the home must be the sole place of business and the storage area must be used regularly. Unlike other home-office deductions, the space does not have to be used exclusively for inventory or samples. The provision is in effect this year for returns filed in 1997.
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