Hear timely insights on marketplace conditions, proposed legislation, innovations, research, and success strategies from industry leaders, lawmakers, experts, and icons to help you propel your business forward and THRIVE.
Episodes
Wednesday May 22, 2024
Wednesday May 22, 2024
CEO Shelly Weir discovered that her notions of what CPAs were like differed from who they actually are when she came to the Florida Institute of CPAs. Putting aside the “number crunchers” concept, she has leaned into their strategic and critical thinking skills and their people-person approach to help revamp educational efforts to the next generation of accounting professionals. With Florida growing so quickly, the need for quality and specialized CPAs is growing, too, and she details on Paychex THRIVE, a Business Podcast, what FICPA is doing to address this. Weir also shares her take on AI and how it can reshape the accounting profession.
Topics Include:
00:00:00: Episode preview
00:01:01: Introduction to Shelly Weir
00:01:29: Background of Shelly Weir
00:05:50: Learnings about CPAs
00:06:17: Qualities of successful CPAs
00:09:07: Specialization in CPA profession
00:12:41: Major CPAs’ specialties in Florida
00:16:03: Unique CPA practices in Florida
00:20:43: Pipeline and recruiting in the profession
00:21:16: National level recruitment challenges and solutions
00:26:59: Programmatic solutions for recruitment
00:28:10: Certification requirements discussion
00:30:59: Impact of work-from-home on accounting profession
00:33:27: Future of Remote Work – a Florida perspective
00:37:21: Future of AI in the accounting profession
00:40:58: Impact of AI in accounting profession
00:42:01: Wrap-up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday May 21, 2024
Tuesday May 21, 2024
This week on Paychex THRIVE, class is in session with Shefali Milczarek-Desai, a distinguished scholar and associate professor of law at the University of Arizona. She joins Gene to explore the complex subject of worker classifications as understanding its intricacies is more than a compliance exercise — it's an operational necessity. Shefali provides insights into recent changes in worker classification regulations, particularly focusing on new rules surrounding independent contractors, bringing attention to their impact on wages, benefits, and protections. This episode also explores the legal and financial implications of misclassification, along with strategies to avoid it. This is one class you don’t want to skip.
Topics include:
00:00: Episode preview and welcome
01:22: Introduction of Professor Shefali Milczarek-Desai
05:24: Introduction of worker classification discussion and rule changes
06:57: Explanation of the Fair Labor Standards Act and its implementation
10:52: Navigating the six factors for determining worker classification at the federal and state levels
15:02: Defining independent contractors vs. employees
17:03: Reviewing the Economic Realities Test
20:27: Department of Labor and IRS role in worker classification
22:15: Advice for business owners on navigating worker classification rules
26:25: Consequences of misclassification
28:41: Wrap up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Wednesday May 15, 2024
Wednesday May 15, 2024
A revamp of the lending structure has some people praising a more streamlined process to get an SBA loan, while others are mad at the additional complexities involved. Regardless, Gene Marks says SBA loans are still a great way to go for small businesses seeking funding. A study finds that pet bereavement leave has many advantages – recruitment, though? Yes, Gene says with so many pet owners, providing this low-cost benefit can draw talent in and help keep them. And why has Gen Z looked to the trades? Lower cost in obtaining education and certification, not to mention earnings potential.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Wednesday May 15, 2024
Wednesday May 15, 2024
Aiysha “AJ” Johnson, CEO and Executive Director of the New Jersey Society of CPAs, says raising awareness at an earlier point in the education process is key to creating a successful pipeline in the accounting profession. The validation of that choice comes when individuals realize the many avenues a CPA can take to help any business in any industry sector grow. She also talks about work credit programs with colleges and firms on Paychex THRIVE, a Business Podcast.
Topics Include:
00:00:00: Episode Preview
00:02:03: Introduction to Aiysha “AJ” Johnson
00:03:17: Aiysha Johnson’s Career Path
00:07:25: Overview of NJCPA
00:09:00: AJ’s Role as a CEO
00:12:48: Aligning work for credit program with colleges and firms
00:17:25: Challenges of recruitment in the profession
00:19:00: Approach of pipeline task force
00:22:00: State requirements for certification
00:25:05: Bringing exposure to accounting to younger students
00:28:44: Opportunities for CPAs in other industries
00:32:38: Wrap-up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday May 14, 2024
Tuesday May 14, 2024
On this episode of Paychex THRIVE, U.S. Senator Todd Young (R-Indiana) joins host Gene Marks to discuss the role of lawmakers in fostering AI innovation, its security, and risk mitigation. Senator Young dives into the bipartisan AI policy work he’s currently conducting in the Senate; sharing how this collaborative approach and thoughtful legislation can support the evolution of AI technologies. He also highlights financial mechanisms policymakers are using to stimulate innovation, specifically touching on the R&D tax credit and the impending reforms that are designed to help American business owners develop a thriving future economy.
Topics include:
00:00: Episode preview and welcome
01:23: Introduction Senator Todd Young (R-Indiana)
02:22: Role of legislation in AI
04:13: Steps towards AI legislation
06:02: Discussion about qualification to regulate technology
09:32: Introduction to the Future of AI Innovation Act
12:16: Implications of AI on learning
14:14: Explanation of the R&D tax credit and its impact
16:13: Proposed reforms to the R&D tax credit
20:07: Comparison of U.S. R&D tax provisions to other different countries
21:29: Importance of the R&D tax credit to non-tech sectors
24:29: Upcoming tax and election year issues
27:02: Paying for expanding tax provisions
30:08: Bipartisan tax agreement possibilities
32:15: Wrap up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday May 09, 2024
Thursday May 09, 2024
A nearly two-year trend in deceleration of hourly earnings growth ends as the Paychex Small Business Employment Watch shows a 3.34% increase in April. Gene Marks highlights other data from the report that business can use. One thing businesses are using more of is credit cards, and Marks says that if done properly, that’s OK, especially with high interest rates for loans. And you’ll be surprised at the percentage of employees who would rather work for a small business, according to a survey. Gene shares insights why this might be the case.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Wednesday May 08, 2024
Wednesday May 08, 2024
Jodi Ann Ray, CEO of the Texas Society of CPAs, talks about the efforts of TXCPA to create a better pipeline in the accounting profession that faces gaps with an upcoming retirement wave, including leveraging AI and other technology to drive growth and expand the advisory role of CPAs. She also acknowledges the need for more diversity and inclusion in the profession, including the rise of women in leadership roles, in her conversation with Gene Marks on Paychex THRIVE, a Business Podcast.
Topics Include:
00:00:00: Episode Preview
00:01:22: Introduction of Jodi Ann Ray
00:03:37: Discussion about variations between CPA groups
00:04:03: The role of CPAs in society
00:05:20: Discussion about the diversity in CPA groups
00:06:45: Discussion about female leadership in CPA groups
00:08:36: Services provided by Texas CPA society
00:09:25: Importance of advocacy by Texas Society of CPAs
00:12:38: What are the demographics of CPA firms in Texas
00:13:25: Recruitment solutions for CPA professionals
00:17:10: Opportunities in CPA profession
00:18:34: The versatility of the CPA profession
00:21:32: CPE credits
00:25:11: Impact of AI in the accounting profession
00:30:24: Wrap-up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday May 07, 2024
Tuesday May 07, 2024
On this episode of Paychex THRIVE, distinguished labor economist and Harvard professor Dr. Richard Freeman joins host Gene Marks to navigate the future of work in an era of rapid technological advancement. With the rise of artificial intelligence (AI) and significant shifts in labor economics, the debate around employee ownership becomes more relevant. Dr. Freeman paints a compelling picture of a future where workers share the fruits of innovation and are not left behind by technological advancements. Tune in as he encourages listeners to consider employee ownership structures to boost productivity, foster a sense of shared investment, and ensure equitable distribution of AI-induced wealth.
00:00: Episode preview and welcome
01:34: Introduction of Dr. Richard Freeman
02:19: Discussion on AI’s impact on labor
07:06: AI as a potential solution to global problems
10:29: History of job replacement by technology
11:35: Impact of AI on jobs and opportunities
15:12: Discussion on employee ownership
18:15: The benefits of employee ownership
21:00: The tax advantages of employee-owned businesses
22:04: Possible reasons for low growth in employee ownership
24:51: Differences between ESOP and other forms of ownership
27:32: Historical perspective on American democracy and work
28:38: Richard’s ideals ownership scenario
34:15: Wrap-up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday May 02, 2024
Thursday May 02, 2024
Federal agencies got on a roll last week by announcing three new regulations that will change how businesses deal with protecting proprietary information, handling overtime and the classifying of exempt and non-exempt employees, and the use of broadband services. Gene Marks shares some thoughts on each of these pocketbook issues and how businesses might approach prior to the rules going into effect.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Wednesday May 01, 2024
Wednesday May 01, 2024
Jennifer Cryder, CEO of the Pennsylvania Institute of CPAs (PICPA), spells out some of the challenges facing CPAs and their firms, largely around hot having clients understand the value of a CPA’s advisory role and sometimes a CPA not grasping the idea that they are advisers. The accounting profession, like almost all industry sectors, faces issues with recruiting and retaining talent. Cryder’s conversation with Gene Marks on Paychex THRIVE, a Business Podcast, sheds some light on how her state association is addressing issues of modernization through AI, professional development, and rethinking the business model firms have used for decades.
Topics Include:
00:00:00: Episode Preview
00:00:54: Introduction of Jennifer Cryder
00:02:12: Challenges facing CPA profession
00:03:24: Examples of challenges, including talent acquisition
00:04:43: Future of CPA firms and the advisory role
00:10:11: What’s happened to the small, local firms?
00:13:26: The value a CPA can offer
00:16:35: Recruiting challenges in the CPA profession
00:19:18: Initiatives For Retaining Good Talent
00:23:09: Metrics and job evaluation
00:27:18: Advice on collaboration with CPAs
00:30:57: Wrap-up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Apr 30, 2024
Tuesday Apr 30, 2024
Quickly evolving technology such as artificial intelligence coupled with changing labor dynamics have altered the workplace. Labor economist and MIT professor David Autor delve into these two critical areas in his conversation with Gene Marks on Paychex THRIVE, a Business Podcast, to help the audience understand the shifting trends impacting businesses. They also discuss strategies around integrating AI-driven insights with human expertise.
Topics Include:
00:00: Episode Preview
00:01:01: Introduction of David Autor
00:01:40: Autor’s background
00:03:32: Discussion on industry dynamics
00:03:51: Impacts of AI on labor markets
00:08:33: AI and decision making in various industries
00:09:37: AI and skills re-evaluation
00:11:19: Skills needed for future with AI
00:15:19: AI's current potential
00:17:16: Long-term impact on labor markets
00:18:17: Discussion on potential disruptions of future technology
00:23:16: Discussion on minimum wage debate
00:29:45: Current state of workforce after pandemic
00:33:24: Wrap-up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Apr 25, 2024
Thursday Apr 25, 2024
Looking to start a business? The trend is to buy a business rather than start from scratch, and a recent report shows small-business acquisitions up 10% from the previous year and 3% in the last quarter. Some experts say new borrowers are accepting high interest rates as normal. And if you’re opening a business, another survey found Ohio has all the factors to make it the top spot to start. Gene Marks also shares his insights on the constant tipping and its impact. Watch the podcast.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Apr 23, 2024
Tuesday Apr 23, 2024
President and CEO Emily Williams Knight helped guide the Texas Restaurant Association and its tens of thousands of members through the COVID-19 pandemic and continues to advocate for legislation that will help restaurants thrive. She shares stories about the industry association’s efforts on Paychex THRIVE, a Business Podcast, to educate and benefit members, as well as her thoughts on why transactional tipping is bad, swipe fees, too, and how getting a childcare initiative established and fostering the second chance hiring initiative will be key to sustaining growth of this billion-dollar industry.
Topics Include:
00:00:00: Episode Preview
00:01:25: Introduction to Emily Williams Knight
00:01:55: The pandemic's impact on the restaurant industry
00:03:14: Impact of pro-business policies during a pandemic
00:06:35: Changes in the restaurant industry post-pandemic
00:08:47: Mission of association as state’s largest private employer
00:11:52: Value of being an association member: education and a voice
00:13:40: Crucial topics and demands within the restaurant industry
00:16:15: Discussion about regulatory measures and compliance
00:16:58: Discussion about tipping policies in the restaurant industry
00:17:18: Discussion on transactional tipping
00:18:07: Importance of experiential tipping
00:21:37: Discussion on swipe fees
00:25:26: Shrinkflation in the restaurant Industry
00:28:01: Minimum Wage Discussion
00:31:07: Child care crisis solution initiative
00:32:53: Second chance hiring initiative
00:34:52: Wrap-up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Apr 18, 2024
Thursday Apr 18, 2024
Who wouldn’t take an 88.5 on a test? It’s passing. Sadly, the National Federation of Independent Small Businesses Optimism survey isn’t a test – and 88.5 is not great. In fact, it is the 27th straight month that the survey has shown less than optimistic results. Gene Marks takes a look at what might be causing the steady dip, plus he talks about how employers have to prepare for the pending OT rule. Not everything is gloom: Women-owned businesses are thriving out West. Listen to the podcast.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Apr 16, 2024
Tuesday Apr 16, 2024
Cathy Engelbert has shattered a few glass ceilings in her career – first woman CEO of Deloitte and first WNBA commissioner – while still battling the gender imbalance in leadership roles. She shares her journey with Gene Marks on Paychex THRIVE, a Business Podcast, starting with her formative years, her decision to be a working mother while striking work/life balance, the mentorship she received. She also talks about confidence gaps, programs to foster the advancement of women, and the advice and guidance she gives her own daughter.
Topics Include:
00:00:00: Episode Preview
00:01:22: Introducing Cathy Engelbert
00:03:15: Inequality in the Mid-80s Working Environment
00:04:28: Role as a Representative for Women in Business
00:07:05: Challenge of Retaining Women in the Workforce
00:10:01: Value of Role Models and Mentors
00:12:32: Being an Unexpected CEO
00:15:00: Strengths Women Bring to the Workplace
00:16:24: Reflecting on Women's Confidence Growth
00:18:26: Challenges in Encouraging Women to Leadership Roles
00:24:22: Balancing Work, Family and Personal Passions as a Female Leader
00:27:24: Pivoting from Deloitte to Lead the WNBA
00:29:13: Advice for the Young Generation on Navigating Careers
00:33:21: Wrap-up and Thank You
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Apr 11, 2024
Thursday Apr 11, 2024
If you’re in the Midwest, job prospects have ticked up slightly – the first increase in 2024 – and every region has seen growth in all but one industry, according to the Paychex Small Business Employment Watch. Gene Marks also highlights a study on manufacturing that points to a massive gap in the next decade of qualified and trained workers, especially regarding digital skills. He stresses that businesses can get potential tax credits and funding for training to help. And all eyes are on California to see how a proposed bill to allow some employees to disconnect from work during off hours proceeds. Listen to the podcast.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Apr 09, 2024
Tuesday Apr 09, 2024
Kent Smetters has experienced public policy on the economy from inside and outside the federal government. The economist and Wharton school professor helps us explore the use of economic modeling in influencing public policy and examines the potential impact of fiscal challenges and tax legislation changes. He joins Gene Marks on Paychex THRIVE, a Business Podcast, to talk about the many factors impacting economic growth, and how educating the current and next generation of executives can equip them to make more informed decisions on the economy.
Topics Include:
00:00:00: Episode preview
00:01:14: Introduction of Kent Smetters
00:03:12: Changing dynamics of MBA candidates
00:05:19: The many hats of an economist
00:06:07: Working with policymakers on economic impact analysis
00:07:04: Discussions on upcoming tax provisions
00:08:02: Balancing the cost of capital and national debt
00:08:38: Influence and work process of Wharton on legislation
00:19:39: Importance of honest broker analysis in policy decisions
00:22:16: Strategies for integrating more STEM personnel into our economy
00:23:29: Discussion on U.S. fiscal situation and debts and deficits
00:25:05: Projection of unsustainable debt level in U.S.
00:26:03: Hiking taxes and spending cuts only solution for deficit
00:27:07: Consequences of spending cuts on Social Security
00:28:13: Concerns about current approach in U.S. of dealing with crises
00:29:16: Effect of inflation on wealth over time
00:32:17: Implications of printing more money
00:35:06: Wrap-up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Friday Apr 05, 2024
Friday Apr 05, 2024
Fast-food restaurants with a national footprint gain an exemption via the law as California raises its minimum wage. Gene Marks discusses the issues this could cause, but also says the state could be a model for others if its works. He also takes a look at a new Bank of America portal that streamlines the process by connecting access to funding sources, and he just can’t get over the fact that a bellwether for the check on inflation has changed. Gene offers his two cents on a four-cent increase of the price of bananas at Trader Joe’s. Check out the podcast.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Apr 02, 2024
Tuesday Apr 02, 2024
What’s the economic outlook of the United States and what factors influence it? Columbia professor Brett House takes a deep dive focusing on growth rates, immigration, free trade, tariffs, deficits and much more – and how these impact small businesses as much as large corporations. Gene Marks and Brett discuss NAFTA, foreign markets, and other policies that will make an impact in 2024.
Topics Include:
00:00:00: Teaser quote
00:01:07: Introduction of Brett House
00:04:21: Examination of the global macroeconomics
00:07:42: Why UK’s Brexit doesn’t work
00:09:45: Courses House teaches and application on global macroeconomics
00:13:25: NAFTA and why it has succeeded
00:15:04: Thoughts on digital currencies
00:18:36: What do tariffs actually do?
00:23:00: Why doing business in the U.S. is wise
00:24:30: Economic recovery and role of government
00:25:43: Perspective on deficits
00:27:24: Wrap-up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Mar 28, 2024
Thursday Mar 28, 2024
Employers who want to retain good employees might have to buy them comfortable cushions for their long commute to work. Seems super-commuting – traveling distances of up to 300 miles one way per day – is becoming popular. Gene Marks offers a few tips on how to manage this trend. He also puts on his CPA hat to warn against scammers grabbing your data from public records to steal any potential tax refund. And even the latest employee-preferred benefit is a shock: coverage for weight-loss drugs. They’ve done surveys and the numbers don’t lie. Listen to the podcast.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Mar 21, 2024
Thursday Mar 21, 2024
What would you think about working one less day and 8 fewer hours each week plus be eligible for overtime pay on a daily basis and benefits? It’s been introduced in the U.S. Senate, but Gene Marks shares a similar view as its detractors – it would crush small businesses, who have also seen their contracts with the U.S. government fall by one-third over the past decade because of restrictive regulations and legislation. Any thoughts on data collection auto insurers? Gene shares insights on why he isn’t opposed. Listen to the podcast.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Mar 19, 2024
Tuesday Mar 19, 2024
Actor, producer, recording artist, and entrepreneur Queen Latifah shares on this episode of Paychex Thrive, a Business Podcast, what she feels are the biggest challenges facing millions of women-owned businesses. She comments on the disparate funding from venture capitalists that direct less than 5% of all dollars to women-owned businesses and to the lack of recognition for women already in powerful positions. She advises women to keep up the fight, but also to ensure they are practicing self-care and living in the moment.
Topics Include:
00:00:00: Episode Summary
00:00:35: Welcome
00:00:50: Introducing guest Queen Latifah
00:01:53: Lenovo's Evolve Small campaign
00:04:24: Funding and other issues women-owned businesses face
00:06:41: Advice for women entrepreneurs
00:08:02: Support for women in business
00:10:35: Importance of self-care
00:11:40: Women are present, they need to be recognized
00:13:34: Drawing inspiration
00:16:45: Living in the moment
00:19:50: Women in higher places need to be accountable, too
00:21:30: Equal Pay for women
00:22:40: Channel setbacks into something positive
00:25:01: Aspiring for a better world
00:25:59: Wrap-up, thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Mar 14, 2024
Thursday Mar 14, 2024
The gig might be up for gig workers. The DOL’s independent contractor worker classification rule went into effect March 11 and businesses using 1099 workers need to reclassify individuals properly – and possibly make them employees – to stay compliant. Gene Marks says it’s going to create some havoc before it’s all sorted out, including potential challenges in court. Small businesses did get a win when the SBA announced an improved Lender Match tool that will make the funding search easier. And Gene advises Millennials to buy businesses from retiring baby boomers amid a generational wealth transfer that could be in the $90 trillion range. Listen to the podcast.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Mar 12, 2024
Tuesday Mar 12, 2024
After nearly a quarter century in the restaurant and hospitality business, Jeanne Cretella has seen major swings, and the President of Landmark Hospitality shares her thoughts with Paychex THRIVE, a Business Podcast, on what works and what doesn’t in the industry. Cretella says restaurants and hospitality should always be about service, and that eliminating tipping and proposing steep minimum wage hikes will kill the industry. She tells Gene Marks that building a culture is critical, how the industry still is great as a career path, and why joining an industry association can help your business stay out of compliance hot water.
Topics Include:
00:00: Opening preview
00:01:31: Introduction to Jeanne Cretella
00:02:15: Jeanne's journey with Landmark Hospitality
00:05:19: Employment opportunities in the restaurant industry
00:07:07: Restaurant industry as a potential career path
00:11:21: Importance of instilling company culture
00:14:08: Employee recruitment
00:17:27: Thoughts on the four-day work week
00:20:15: Industry trend – flexibility in workplace
00:21:37: Tipping in restaurants
00:26:09: Minimum wage increase in fast-food industry
00:29:04: Surcharges for using credit cards
00:34:04: The importance of participating in industry associations
00:34:59: Wrap-up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Mar 07, 2024
Thursday Mar 07, 2024
As the economy moderates, so too is job growth. Gene Marks offers some insights as to what the data from the latest Paychex Small Business Employment Watch is showing business owners. Fast-food restaurant chain Wendy’s announced the testing of dynamic pricing and customers weren’t happy, so Wendy’s flipped. Is dynamic pricing the future pricing model? How do you feel about a personal escort while shopping? One hardware store owner floated the approach to combat the spike in shoplifting, but Gene says there might be hidden costs. Listen to the podcast.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Mar 05, 2024
Tuesday Mar 05, 2024
Business owners cannot wait until AI is full-proof or they will be out of business, according to longtime technology journalist, author, and business owner Kara Swisher. Businesses need to get comfortable with what AI is doing now and can do for them, and then be adaptable as it changes. Swisher speaks with host Gene Marks on Paychex THRIVE, a Business Podcast, about the ever-changing business-tech landscape, including why AI is a tool and should be treated as such, how some social platforms are better than others for digital ad ROI, why security is almost nonexistent and the government allowed it, and much more.
Topics Include:
00:00: Episode Preview
01:32: Introduction to Kara Swisher
03:10: Discussion about Kara's new book on tech
07:24: Transition from being a journalist to a business owner
09:55: Insights on contracts and work relationships
11:01: Marketing insights on social media
21:26: Tech is a tool and still adapting
24:39: Security and privacy in tech
26:13: Need for stricter data regulation
28:00: Discussion on Augmented and Virtual Reality devices
32:01: Why Climate Change Tech would be a good job
34:38: Wrap-up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Feb 29, 2024
Thursday Feb 29, 2024
A recent survey finds that while the majority of small business owners are in favor of a minimum wage hike, half of respondents also feel that an increase would negatively impact their businesses. Host Gene Marks understands this paradox and explains why business owners would have these contradictory opinions. Gene also touches on the new workplace phenomenon called coffee badging and why one CEO isn’t opposed to this practice, as well as a new editorial in the Wall Street Journal that cautions against the slippery slope of new unrealized gains taxes 10 states are currently flirting with. Listen to the episode.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Feb 27, 2024
Tuesday Feb 27, 2024
Claire Jarrett is a businesswoman, author, and expert on digital marketing, and she says that data tracking is crucial to understanding how to craft your online ads, messaging, and campaigns. Gene Marks chats with Jarrett on Paychex THRIVE, a Business Podcast, about keywords, industry tools, consumer behavior, the shift on cookie tracking, and much more, and shares insights and ad-building tips that could help your business achieve success with its digital marketing efforts.
Topics Include:
00:00: Episode Preview
01:08: Introduction of Claire Jarrett
02:37: Impact of change with cookies and tracking
05:39: Difference between advertising on Google and YouTube
07:27: Advice on tools to help create ads
09:27: What is a keyword and a negative keyword?
11:47: Behavior and why consumers click on ads
13:30: Tips on writing an effective digital ad
14:43: Different types of digital ads
15:38: What is a retargeting campaign?
17:35: What makes a good landing page?
19:27: Why testing ads is important
21:09: Verifying data through independent tracking
26:27: Jarrett Digital’s approach to clients and consulting
28:24: Impact of AI on future of digital marketing
30:00: Identifying the perfect client?
31:00: Wrap up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Feb 22, 2024
Thursday Feb 22, 2024
A new law takes effect in New York state that requires businesses to be transparent about credit card surcharges while also capping what businesses can charge patrons who use credit cards. Host Gene Marks says he favors this approach and shares insights on this and a few other news items, including the potential expansion of Paid Family Medical Leave in New Jersey and Pennsylvania to include small businesses, and the push for the creation of emergency savings accounts for employees. There are a lot of complexities being created and Gene explains why. Listen to the episode.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Feb 20, 2024
Tuesday Feb 20, 2024
In today’s ever-changing business landscape, understanding the economy, national debt, and their impact on your trade is a crucial tool. On this episode of Paychex THRIVE, former Federal Reserve economist, Bloomberg columnist, and founder of Sahm Consulting, Claudia Sahm, offers valuable insights to help listeners navigate the complexities of the U.S. economy. She discusses its key aspects, ranging from the role of treasury securities and national debt to the impact of fiscal policies on national economic health. Learn about the unique credibility of U.S. debt securities and how international demand for these assets bolsters the nation's ability to manage its rising national debt sustainably.
Topics include:
00:00 – Welcome Claudia Sahm
01:14 – Introduction to Claudia Sahm's background and work history
03:14 – Discussion on the U.S. economy and national debt
04:36 – Importance of focusing on tax and spend policies
06:58 – Claudia’s perspective on the sustainability of government deficit
09:13 – Considerations for future economic policies
11:31 – Discussion on the size of the federal government as it relates to the national debt
13:03 – Importance of reliable government data
14:02 – Claudia’s advice on utilizing data in decision-making
16:02 – Importance of regional and industry-specific data
17:31 – Key metrics to track for understanding the economy
19:15 – The influence of the labor market and consumer spending on the economy
20:25 – Weighing government data against private sector data
21:20 – Discussion on data sources
23:50 – Economic forecast for the near future
28:41 – Influence of presidential elections on the economy
32:23 – Wrap up
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Feb 15, 2024
Thursday Feb 15, 2024
Unless you’re Taylor Swift, working for Taylor Swift, or dating Taylor Swift, your business might not be doing as well in the marketplace. At least that’s what recent numbers show, with job vacancies open but 14% of small-business owners indicating they aren’t hiring over the next three months. Gene Marks takes a look at a recent report, plus shares some poor productivity numbers following the Super Bowl and the astronomical economic impact you could experience if you hitch your business in any way shape or form to Taylor Swift’s concerts or her favorite NFL team. Listen to the podcast for details.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Feb 13, 2024
Tuesday Feb 13, 2024
Businesses in New York state and New York City have tremendous opportunities presented through Empire State Development, the economic development arm of state government that provides support to small businesses and helps implement initiatives. President and CEO Hope Knight chats with host Gene Marks on Paychex THRIVE, a Business Podcast, about how the funding works for training and workforce development, available tax credits, and the push for film industry and biotech industry advancements in the state.
Topics Include:
00:00: Opening
01:06: Introduction of Hope Knight, CEO of Empire State Development
02:48: What is Empire State Development
04:17: Programs available for small businesses through ESD
05:01: What is the State Small Business Credit Initiative
07:22: Where is the focus of ESD funding
10:25: What industries is ESD focused on for funding and workforce development
14:13: How funding flows to programs that provide training and distribute funds
17:33: Benefits to hiring the formerly incarcerated
22:14: Available tax credits for hiring formerly incarcerated
24:09: Specific programs aimed at film industry in New York City
25:33: Opportunities around biotech industry in central New York
26:48: Wrap-up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Feb 08, 2024
Thursday Feb 08, 2024
Data from the Paychex Small Business Employment Watch shows job growth continues strong and hourly wage growth is also up. Gene Marks shares insights on how employers can use this data to their advantage. Legislation to extend the research and development tax credit at the expense of the employee retention credit passes one chamber of Congress. The SBA rebrands a crucial program to make it more accessible, including adding training that might boost the percentage of businesses that successfully obtained a federal contract and a key revenue source beyond the 60% from 2023. Listen to the podcast for more.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Feb 06, 2024
Tuesday Feb 06, 2024
TV celebrity of “Restaurant: Impossible” and restaurateur Robert Irvine has a new book out titled, “Overcoming Impossible” that says that it doesn’t matter who you are or where you come from, success is attainable. He shares insights with host Gene Marks about finding and hiring the right people, leading those people, taking calculated risks, and listening to new ideas. He also says you need a system, that system should have rules, and don’t be afraid to fail. Listen to the Paychex THRIVE podcast to hear what other advice he has and why he travels 345 days a year to make it all work.
Topics Include:
00:00: Introduction
01:22: Defining impossible
04:47: Hiring and working with younger generations
08:47: Listening and taking suggestions in a business
09:31: Dealing with employee turnover
13:48: Learning from failure with analytics
16:59: What work-life balance?
21:07: Where Irvine came from and why he gives back
22:12: Understanding different work ethics
24:12: Risk-taking and believing in yourself
29:53: P&L and ROI in the restaurant industry
34:28: Leadership in business
37:04: Wrap-up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Feb 01, 2024
Thursday Feb 01, 2024
One recent study shows that full potential productivity gains through the use of generative artificial intelligence might be six to 10 years away. A different study at MIT revealed that in for certain aspects of work, only in a quarter of the jobs – 25 % - did it make financial sense to use AI. The numbers weren’t tipping favorably toward AI, but Gene Marks says these are the early days of understanding what AI can do and talks about his experience with one such AI tool. Listen to the Paychex THRIVE Week in Review podcast for more.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Jan 30, 2024
Tuesday Jan 30, 2024
The HVAC industry faces challenges on several fronts, from recruitment and retention in a tight labor market to an endless stream of regulations from federal and state agencies. CEO Talbot Gee of HARDI – the Heating, Air Conditioning, and Refrigeration Distributors International – works with his association to help implement training programs, communicate the requirements mandated by regulations, and data technology to that enhance inventory management and the understanding of space allocation for members of the wholesale distribution association. Gee speaks with Gene Marks on the Paychex THRIVE podcast on these topics and much more.
Topics Include:
00:00: Introduction
01:17: Welcome guest Talbot Gee
01:55: HARDI and the purpose of the association
05:19: Workforce development; recruitment and retention challenges
10:01: Using data and technology to maximize space and scale operations
12:30: Training in trade schools and promotion of trades
15:30: Where to find labor
17:44: Impact of home sales, new construction on industry
21:15: Impact of tighter lending practices, inflation on inventory
26:07: Navigating regulatory changes and industry challenges
30:59: Opportunities in HVAC industry
34:01: Wrap-up and thank you
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Jan 25, 2024
Thursday Jan 25, 2024
If you’re running a business, a herring fisherman baited the hook with a case now before the Supreme Court that might limit a federal agency’s power to expand on a ruling to further regulate your business. Gene Marks says this could make many businesses happy, maybe as happy as the news that the American consumers are upbeat about the economy and continuing to spend. Gene Marks shares some insights on the news, including the benefits employers are finding with an older workforce. Listen to the podcast.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Jan 23, 2024
Tuesday Jan 23, 2024
Retired Army Gen. Stanley McChrystal says at the core of good leadership is communication and clear direction, whether commanding troops in battle or leading your team on a business project. He speaks with host Gene Marks on the Paychex THRIVE podcast about good leadership qualities such as self-discipline, adjusting your approach as you gain more experience, getting your hands in the mix regardless of title, and surrounding yourself with people whose skillsets and thought processes augment yours – not duplicate them.
Topics Include:
00:00: Opening quote on leadership
01:01: Introduction of General Stanley McChrystal
02:19: Discussion on leadership
08:05: How do age and experiences impact leadership
11:37: Building a team around a good leader
16:02: Demonstrating leadership through actions
20:48: Comparison of running a military outfit vs. a civilian business
21:43: Setting clear standards and expectations in business
24:15: The importance of transparent communication
25:22: Lessons learned and appreciating successes
26:14: Implementation of effective training
27:44: Identifying key influencers and driving changes
30:39: Wrap-up
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Jan 18, 2024
Thursday Jan 18, 2024
With the release of the Final Rule on Employee or Independent Contractor Classification by the U.S. Department of Labor, businesses will have to audit their workforce to determine if individuals are classified properly under the Fair Labor Standards Act. The rule takes effect March 11, 2024, unless it is challenged in court and enjoined. Gene Marks explains the six factors businesses have to consider when analyzing a worker’s classification, and why the financial stakes are so high if improperly done. Listen to the Paychex THRIVE Week in Review podcast.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Jan 16, 2024
Tuesday Jan 16, 2024
Digital technology that gave us texting hasn't devalued phone conversations, which are a treasure trove of insights that can help boost a company's lead generation and growth. Ryan Johnson, the Chief Product Officer at CallRail, tells Paychex THRIVE podcast host Gene Marks that businesses relying heavily on phone calls for lead generation can maximize their marketing efforts with the granular details his company can obtain from their AI-powered lead intelligence platform. It can integrate with other systems to provide instantaneous information about the client beyond their name, including where they are calling from, keywords from the conversation that can assist in auto-qualifying a lead, and much more.
Topics Include:
00:00: Introduction and welcome Ryan Johnson
01:48: What is CallRail?
02:00: What does CallRail technology do?
04:14: How CallRail technology integrates with other systems
00:05:10: Explanation on dynamic number insertion
00:08:00: Discussion on data capturing
00:09:22: Discussion on conversation intelligence
00:12:20: Application of conversation intelligence
00:16:42: Integration with CRM applications
00:18:00: Characterizing the ideal CallRail customer
00:19:53: Personal example of how CallRail can benefit businesses
00:21:10: Wrap-up and thanks to Ryan Johnson
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Jan 11, 2024
Thursday Jan 11, 2024
For 33 consecutive months, the small business community has shown resiliency by adding jobs. Highlights from the Paychex Small Business Employment Watch includes data from the region and major metros consistently leading the way. The federal government also released positive numbers on jobs, but primarily in only four industry sectors. Gene Marks shares what this might mean for businesses, as well as why employers should be prepared with another looming federal government shutdown. Listen to the podcast.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Jan 09, 2024
Tuesday Jan 09, 2024
Gov. Phil Murphy of New Jersey has his sights set on making the Garden State the East Coast AI hub. Working with Princeton University, his administration is assembling a task force with people who can handle the tech side and the practical governance in hopes of using the results to improve the delivery of government services and more. Gov. Murphy also talks with host Gene Marks on the Paychex THRIVE podcast about how the Main Streets of New Jersey could get a boost from a change in the liquor license laws, plus how he is staunchly pro-organized labor in rebuilding the middle class and the economy.
Topics Include:
00:00 – Welcome, Gov. Phil Murphy
01:53 – Introduction to Murphy
02:34 – Discussing AI initiatives
04:13 – What is the AI task force and its scope
07:19 – Resources behind AI hub
10:53 – AI task force goals
17:18 – Updating the liquor license laws?
20:52 – What modern liquor license laws can accomplish
23:34 –Organized labor and small businesses in N.J.
24:11 – Support for unions and the potential impact
27:18 – Wrap-up
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Wednesday Jan 03, 2024
Wednesday Jan 03, 2024
People want an online experience where they can easily find what they’re looking for. Algolia provides the AI search tools to help businesses make their content or products more searchable. In fact, if Algolia was a public company, it would be the second-largest search engine in the world behind Google. Sean Mullaney is chief technology officer at Algolia and joins Gene Marks on Paychex THRIVE, a Business Podcast, to share what the company is all about and how they are integrating AI in their efforts to help businesses build better digital experiences for customers.
Topics Include:
00:00 – Welcome, Sean Mullaney
00:42 – Introduction to Sean Mullaney
01:29 – What does Algolia do?
03:36 – How e-commerce benefits from Algolia’s efforts
05:45 – AI and its use in enhancing searchability
10:11 – Bringing personal assistant-type experience to the web
13:50 – Leveraging technology, staying nimble can benefit small businesses
14:49 – Wrap-up
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Dec 28, 2023
Thursday Dec 28, 2023
According to a recent worldwide survey, 25% of people are prepared to leave their current jobs, with better pay and perks topping the list of desires, and work-life balance valued, as well. Gene Marks shares some thoughts on this, as well as the apparent protest move of coffee badging, which should really make employers take a closer look at their office policies about remote work. The IRS is accepting the return wrongfully attained ERTC funds – and is throwing in a discount – and you’d be surprised what state one study found to be the hot spot for new businesses in 2024. Listen to the podcast.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Dec 21, 2023
Thursday Dec 21, 2023
Despite disparity in the reporting of e-commerce sale figures, one thing is apparent: people are spending and the holiday shopping season is off to a good start. However, Gene Marks still has reservations on sustainability in 2024 because the GDP currently is being propped up by U.S. consumers. In other news, extensions are afloat, from a bill seeking to change the beneficial ownership information reporting deadlines to pushes by each party around R&D credits to child tax credits. Get more details in the podcast.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Dec 19, 2023
Tuesday Dec 19, 2023
Rising to the C-Suite takes more than just an MBA. Host Gene Marks has a conversation with recently retired Paychex CFO and current senior advisor to the CEO, Efrain Rivera, about his interesting career path and the crucial aspects he sees as being essential in business. This episode of Paychex THRIVE, a Business Podcast, also shares insights on financial literacy, strategic decision-making, hiring, technology, professional relationship building, and more, and how leveraging that knowledge to create innovative solutions and strategic investments can promote a company’s overall growth.
Topics Include:
00:00 – Welcome, Efrain Rivera
00:56 – Introduction to Rivera
03:12 – Pivoting in your career
05:03 – The role and value of an MBA degree
09:27 – Challenges and decisions during major change
13:12 – Risk-taking vs. gambling in business
16:01 – Hiring for attitude not aptitude and the challenges
21:35 – How to motivate a team
24:09 – Discussion on current state of business
25:01 – Safe investments in present economy
30:02 – Balancing indicators from Wall Street and Main Street
31:38 – Small businesses in the current economic state
35:10 – What makes a potential startup appealing for investment
36:20 – Balancing an entrepreneur’s skill set
44:35 – Wrap-up
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Thursday Dec 14, 2023
Thursday Dec 14, 2023
Unemployment has dropped, jobs are being added, but job openings are decreasing by millions. Gene Marks says this gives him reservation but also shares that small businesses have opportunities to add some quality talent. Also available for your business is a chance to lower taxes by using write-offs, paying bonuses, cleaning up the balance sheet. And have you heard of food digging? Gene shares insights on a new practice by some restaurants but he also has reservations. Listen to the podcast.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Dec 12, 2023
Tuesday Dec 12, 2023
In an effort to combat illicit activities such as money laundering and terrorist funding, the Financial Crimes Enforcement Network (FinCEN), under the authority of the Corporate Transparency Act (CTA), will require businesses to report beneficial ownership information (BOI) starting in 2024. On this episode of Paychex THRIVE, a Business Podcast, host Gene Marks speaks with Stephen Dombroski, a Senior Payroll Tax Manager in Compliance for Paychex, on compliance requirements, potential penalties for non-compliance, and what information is being requested, and the covered businesses expected to report under the CTA.
Topics Include:
00:00 – Welcome, Stephen Dombroski
00:29 – Introduction to Dombroski.
01:27 – What is the Corporate Transparency Act
03:10 – Which businesses does the act apply to
04:06 – What businesses are exempt from BOI reporting
06:17 – Resources to help with compliance
07:35 – What information has to be reported?
10:06 – Explanation of beneficial ownership
10:52 – Security of information being reported
11:49 – Deadlines for BOI reporting
15:26 – Penalties for non-compliance
21:34 – How Paychex can assist in reporting
22:29 – Wrap-up
Learn more about beneficial ownership information reporting at https://www.paychex.com/articles/compliance/beneficial-ownership-information-reporting.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Friday Dec 08, 2023
Friday Dec 08, 2023
The University of Michigan’s monthly consumer sentiment survey shows a fourth straight decline, which has Gene Marks worried that, despite signs to the contrary, Americans might be slowing on their purchase of goods. Some businesses might be disproportionately disadvantaged if a proposed rule for banks creates a credit access issue. And the time might be right for smaller businesses to win the battle for labor, as 21% of all job openings in the U.S. are at businesses with 1 to 9 employees. Listen to the podcast.
DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.
Tuesday Dec 05, 2023
Tuesday Dec 05, 2023
In this episode of the Paychex THRIVE, a Business Podcast, host Gene Marks talks with Thea Ducrow, CEO of Creative AI Leadership Consulting, about the role of artificial intelligence (AI) in human resources (HR) for small businesses.
Learn about the advancement of AI applications, such as ChatGPT and how it can benefit business owners by providing smarter and more professional assistance. Gene and Thea also dive into debunking the extreme views about AI and job loss, and provide insights and education to HR professionals, emphasizing that AI is not a replacement for human judgment, but rather an assistant that enhances productivity and accuracy. Take a listen and learn how small business owners can embrace AI platforms like ChatGPT, which can offer valuable resources, data, and policies, including compliance guidelines, to help streamline business procedures.
Topics Include:
00:00: Episode Preview
01:27: Introduction to Thea Ducrow, CEO of Creative AI Leadership Consulting
02:37: Discussion about ChatGPT's improvements and capabilities
04:31: Concerns and benefits of AI and its influence on jobs
06:45: Practical applications of Chat GPT in business
07:32: The importance and benefits of proper communication with AI systems
09:42: Addressing fears and utilizing AI's potential in HR
12:00: The focus on human connections in HR and the role of AI
15:22: Concerns and adaptation strategies as AI quickly improves
17:45: Keeping up-to-date with new regulations and AI's capabilities
22:39: Addressing privacy concerns in AI policies
26:44: Future expectations from AI
28:35: The impact of AI on jobs and the economy
29:57: Closing remarks & future aspirations
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DISCLAIMER:
The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.