How the Obama Healthcare Legislation Will Impact You
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Higher taxes on the affluent. To help offset the act’s cost, affluent taxpayers will face higher taxes. Beginning in 2013, taxpayers with more than $200,000 in earned income ($250,000 for families) will pay an additional 0.9% Medicare tax on the excess. In addition, those with an adjusted gross income (AGI) over $200,000 ($250,000 for joint filers) will pay a new, 3.8% Medicare tax on unearned income, such as interest, dividends, rents, royalties and certain capital gains. The tax doesn’t apply to retirement plan distributions.
Penalties for failure to provide coverage. The Patient Protection act doesn’t require employers to provide insurance coverage, but starting in 2014 it imposes tax penalties on certain employers that don’t provide it. Employers with 50 or more full-time-equivalent workers (FTEs) that don’t offer coverage and have at least one full-time employee who receives a premium tax credit are subject to an annual fee of $2,000 per FTE (not including the first 30 FTEs).
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Giving back – Boosts Team Moral
As a team this past Monday, we volunteered at the CT Food Bank. It was a great team building activity which not only gave back to the community, but also boosted our team moral.
We had the opportunity to participate in the CT Food Bank’s Children’s Backpack Program. The Connecticut Food Bank’s Backpack program brings a simple solution to a basic need that is not adequately met for many children in CT and throughout the United States. By partnering with local public school systems, teachers and staff, the Food Bank identifies students who are food insecure and provides them with kid-friendly food that is distributed discreetly at school at the end of each week.
Each child will receive approximately ten different food items that are nutritious, kid-friendly, shelf-stable and ready to eat with little or no cooking. Each week, the food items are placed into bags by Connecticut Food Bank staff and volunteers, like our team, at a warehouse and packed six per box. At the school, the School Coordinator removes a bag of food from the box and puts it into a child’s backpack on Friday or before a holiday weekend. Using the student’s own backpack (or one provided solely for this purpose) helps shield the child from any stigma that might be associated with being hungry or receiving food assistance.
We were happy to be a part of such a wonderful initiative.
Every successful entrepreneur knows that a strong team makes it possible to accomplish great results, while providing employee satisfaction that is key to retention. But dream teams don’t just happen, they are developed over time and require commitment at all levels – starting with you, the owner, CEO and leader of your company.
Remember strong teams are committed to the success of the business and each other. Commitment comes from participation and understanding. The more we involve our team in the business, the more committed they are to its success. And since some of the best ideas for business growth and improvement come from employees, it’s time to get them engaged.
Team building activities such as volunteering are just one way you can unify the team. Don’t forget that you also need to involve the team not only in the community, but also your business goals.
Working at the Food Bank made us all remember that as a team we can make anything happen. Just as we were able to fill the backpacks for the children by working together, we should be working to help each other to accomplish our business goals in the office everyday and therefore accomplish the goals for the company.
Are you looking to learn more on how you can build a dream team for your business?
To make a difference in your business you have to change the way you do things. It begins by attending one of our profit building seminars.
To get started today click the link above. We look forward to helping you grow your business and making the kind of money you always thought possible.
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