December 2023 Newsletter
Warren Cook
Creating small businesses success through effective Strategic HR & Business Advisory Solutions.
Tax Updates and TAHR Insights
Clean vehicle credits can help car buyers pay less at the dealership
Taxpayers who buy a qualifying new or used clean vehicle may be able to transfer their tax credits to the dealer in exchange for a financial benefit – such as a lower cost – starting Jan. 1, 2024.
Benefits of transferring the credit Taxpayers can now claim tax credits for new and used clean vehicles they buy during the tax year and, starting Jan. 1, 2024, can transfer that credit to the dealership. This means that the taxpayer who is buying the vehicle can exchange their credit for a financial benefit such as reduced final cost. The financial benefit is equal to the amount of the credit, whether in cash, a partial payment or a down payment.
New information about the clean vehicle credit The IRS recently issued?proposed regulations,?Revenue Procedure 2023-33?and?frequently asked questions?that cover:
Insight:
This new program allows car buyers to use the credit at the dealership to purchase the vehicle rather than waiting to claim the credit on their tax return.
For guidance and solutions, please contact? Art Chianese, CPA / EA at TAHR Services Inc or schedule a free discovery call today.
Help avoid fraud and tax-related identity theft with the IRS Identity Protection PIN.?
Clients can get extra protection against identity theft during the 2024 tax season by joining the?IP PIN program. The IP PIN helps prevent criminals from filing fraudulent federal income tax returns or stealing refunds using taxpayer's personal information. IP PINs are unique because they are known only to the taxpayer and the IRS. Tax returns requiring an IP PIN number will not be processed by IRS without including this unique identifier on the return.
Insight:
This program is one of the best defenses against identity theft for the Tax Filing Public and is a free service provided by the IRS.
Human Resources Updates and TAHR Insights
Strategic HR Planning
On an annual basis employers face numerous calendar sensitive events that impact their organization and the workforce.? These events have short- and long-term impact on financials, engagement, retention, morale, and more.? When business owners and leaders do not have effective advisors, internal or external, they often face difficult decisions alone without the data, context, options, alternatives, or guidance necessary to achieve their goals and desired outcomes.? Here are some examples:
The risks of missing opportunities to enhance your workforce and organization, save money, improve value from suppliers and partners, and more are critical for the business owner.? A simple change in insurance plan design, an enhanced strategy for incentives, a better system or more interactive broker, the right communication plan can all produce tremendous value for your business.
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Insight:
Do not miss these opportunities simply due to ignorance of the critical nature of these decisions or the lack of an effective strategic advisor to provide you the information, context, options, and guidance to inform your decisions for success.? Take steps to have an expert advisor on your side to get the most out of your vendors and partners.
TAHR Services experts have been providing HR Advisory Solutions to business owners and leaders for decades impacting positive change to achieve desired goals and outcomes.? Establishing a relationship with an expert who cares about you and your business is key to sustainable success.? To learn more and have a discussion about your goals contact Warren Cook at TAHR Services by scheduling a free discovery call today.
Poor Workforce Performance – What should you do?
In every organization I have found people leaders concerned with the performance or success of their staff.? The staff are failing, not meeting goals, are underperforming, make significant mistakes, mistreat clients or customers, and more.? They engage our firm to evaluate the situation and their initial goal is to “fix” the employees or help them terminate them.
First, from my experience over the last 27 years, 75% of the time the root cause and problem are not the employee.? Instead, the challenge is with the onboarding, training, engagement, performance management, accountability, and communication from the employer or people leader to the employee to impact a positive change in workplace behavior and actions to achieve success.
Insight:
Resist the urge to focus on discipline or corrective action and separation of employment until after you look in the mirror and analyze if your people leaders are providing the workforce the necessary tools, resources, and support to employees to be successful.? You increase your risk and liability related to a wrongful or discriminatory termination if you fail to first ensure you have done everything expected as an employer to help the employee correct the situation and achieve success.? Many clients I have worked with lacked the internal experience or expertise to take this best practice approach to elevating the workforce and raising the bar in people leadership and performance management.
To start changing your approach and to leverage best practices that lead to success you need the right HR expert to advise you and your leadership team.? Let’s start that conversation today so you can achieve the success you deserve!? Contact Warren Cook at TAHR Services by scheduling a free discovery call today.? Let us develop a customized solution that mitigates the risks of a deficient performance management program.
Don’t let this happen to you!!!
DOL Misclassification
Housing Commission misclassified employees as independent contractors
MUSKEGON HEIGHTS, MI – A federal investigation has recovered $98,316 in back wages and liquidated damages for 32 security guards who the Muskegon Heights Housing Commission failed to pay overtime wages because the Michigan employer misclassified them as independent contractors.
Disability Discrimination
Citizens Bank, N.A. to Pay $100,000 to Settle EEOC Disability Discrimination Lawsuit
Bank Will Offer Reassignment as a Reasonable Accommodation to Employees With Disabilities
According to the EEOC’s lawsuit, Citizens Bank refused to accommodate a call center employee after he developed an anxiety disorder and requested to be reassigned to a position that did not require him to field calls with aggravated customers over the phone. Despite having hundreds of nearby job openings, Citizens Bank refused to reassign the employee or discuss alternative accommodations until he returned to his job at the call center, the same position his disability prevented him from performing. As a result, the employee was forced to resign, the EEOC said.
Insight:
Do you know how to protect your small business from these situations?? Does your bank account and insurance policies prepare you for the significant financial fines, penalties, negative publicity. and loss of revenue you can experience from an employee complaint to the DOL or EEOC. Ignorance is not an excuse, and a failure to ensure you have compliant employment practice creates tremendous risk for your business.
TAHR Services has the perfect solution for you.? Our Risk Assessment of your Employment Practices provides a comprehensive analysis and audit of your employment practices to raise your awareness of risks and liabilities and provides a strategic roadmap to mitigate any issues uncovered confidentially.? To explore this solution for your business and achieve peace of mind contact Warren Cook at TAHR Services by scheduling a free discovery call today.