Small business healthcare tax credit

Share to Twitter Share to Linkedin Manuel O. Méndez, Chief Executive Officer of Quotient Limited . Each of us has the power to make a positive impact on the lives of others. When I was learning about value-creation strategies at the beginning of my postgraduate studies, I found myself thinking about how every interaction—be it with colleagues, family, mentors or even members within our wider community—is a value-creation exercise. But what is value creation? The concept in business 101 is simple: It’s a process that turns resources into something that meets the needs of others. Amazingly, I was lucky enough to not only learn about this concept in theory but could also witness it in practice from some of my mentors. My father was the first person in my life who projected an air of inspiration that I quickly picked up on. He inspired me to think big and help others do the same along the way. I also met someone early on in my career who was the … [Read more...] about Four Sure-Fire Ways To Become A Value Creator In Your Business Or Community

Share to Twitter Share to Linkedin As the COVID-19 pandemic recedes many medical testing services businesses have been diversifying and bringing to market new products aimed at the growing health and wellbeing market. For example, blood and DNA testing and screening services. The VAT status of these new offerings is not always clear and recent VAT case-law, and commentary issued by HMRC, leaves some grey areas for interpretation, with risks for tax compliance. One of the considerations when innovating and developing new products is the question of whether or not the contemplated supplies fall under the VAT exemption for medical care. As with all exceptions to standard rating, the medical care exemption is applied narrowly and has a series of conditions that all have to be met. There is also a ‘cliff-edge’ in the impact between having to account for VAT (at the standard rate of 20% in the UK) and exempt treatment; the possible addition of 20% VAT either makes … [Read more...] about Medical Testing Services – Tax Considerations Of New Activities

The budget managed to keep the focus intact on infrastructure, long-term capacity building, and much-needed tweaks to the taxation framework to optimise tax mobilisation. Given the needs of the Indian economy and the government’s previously outlined economic vision for the next 25 years, expectations were indeed high from Budget 2023. However, there were other realistic aspects like the lingering fiscal impact of COVID-19 relief measures, persisting global inflation in the last few quarters, rising interest rates and slowing economic growth, that kept the expectations in check. In such a situation, the Budget presented by the Finance Minister successfully tread the tightrope and checks all the right boxes. Most importantly, the Budget has affirmed the government’s resolve to stay on the fiscal consolidation course. Other than maintaining macroeconomic stability by operating within means, the budget managed to keep the focus intact on infrastructure, long-term capacity building, … [Read more...] about Tax changes in Budget 2023 to boost consumption & savings

Share to Twitter Share to Linkedin Ryan Brennan, Managing Director, Advantage Capital . As the post-pandemic economy navigates its ongoing downturn, the road to financial well-being and realizing wealth creation begins with a concerted effort around growing local small businesses. Entrepreneurs and business owners help create the jobs required to uplift areas in need of more economic opportunity. But those overlooked and underserved areas also require access to capital to produce the positive impact that can course-correct a lackluster economy. The impact of accessible capital doesn’t stop at the storefront —it can have a ripple effect of strengthening surrounding communities. The Business Opportunity In Rural And Economically Challenged Urban Areas For undercapitalized parts of the country—the regions where, all too often, lenders and investors have been less likely to support small businesses—a double-bottom line approach to investing may be … [Read more...] about How Incentives Help Ensure Investments Reach The Right Areas

Share to Twitter Share to Linkedin Stephen Sokoler, Founder & CEO of Journey . With the pandemic bringing about one of the biggest workplace transformations ever—including remote work, greater employee expectations and a passionate and polarizing social and political climate—understanding the evolving needs of today’s workforce is essential. In a climate of quiet quitting, burnout and turnover, the knee-jerk reaction is to hone in on the part of the workforce fringing on disaster. However, even with benefits like employee assistance programs (EAPs), therapy and medical plans in place, HR departments may still be scrambling to find ways to appease their troubled employees and retain the quality staff they have. It turns out that mental health challenges could be driving much of the concern. Spending on disease-related medical services increased the most for mental health services out of all evaluated services between 2016 and 2019, … [Read more...] about Three Proactive Measures Employers Can Take To Prioritize Employees’ Mental Health

Share to Twitter Share to Linkedin Zac Cohen is the COO at Trulioo , a leading global identity verification company. Economic uncertainty, geopolitical unrest and a rising tide of online fraud and identity theft have created a wary global customer base. Today, people want the companies they engage with online to take security seriously . It’s critical that payment companies recognize that shift in consumer sentiment and provide the reassurance and security consumers crave. In my experience as chief operating officer at an identity verification company, I’ve seen firsthand how important it is for companies to build trust with customers and how it serves as a differentiator, particularly in competitive industries. Building trust starts with quickly adjusting to customers’ shifting expectations and showing them with every interaction that their online safety is the top priority. Consumers value security first. The surge in online activity … [Read more...] about How Payment Companies Can Reassure A Wary Customer Base

The returns on the investment in listed bonds are likely to be impacted in the coming days as the government in the Union Budget 2023 has removed the exemption from tax deduction at source (TDS) on these securities, experts said. In the Finance Bill 2023, the government announced the omission of clause (ix) under section 193 of the Income Tax Act, which provides an exemption from TDS on interest payments on listed bonds. So accordingly, now all bondholders have to pay TDS on their returns, which will reduce their returns. “The returns of investors will decrease because of TDS applicable now on all interest on securities be it listed or unlisted,” said Umesh Kumar Tulsyan, Managing Director, Sovereign Global. “It affects the returns. A bit of illiquidity will crop up due to this. Held-to-maturity (HTM) investors or those who have exemptions from tax like mutual funds, insurance companies, and provident funds, among others, shall not be impacted as such,” said Ajay … [Read more...] about Budget 2023: TDS on listed bonds may hit investor returns; here’s what experts say

Is there more to the monthly Bureau of Labor Statistics jobs report than meets the eye? Consider: In a Christmas news dump that Americans mostly missed, the Federal Reserve Bank of Philadelphia revised down the BLS’s estimated job growth for the second quarter of 2022 by more than one million. The BLS calculated that 1,121,500 jobs were created over this period, while the Philly Fed found that the economy added just 10,500 jobs. Reuters called this massive labor market discrepancy “a conundrum.” Sen. Rick Scott (R-FL) accused the BLS of cooking the books to boost Biden. (RELATED: BETSY MCCAUGHEY: Spendaholic Politicians Are Taking A Sledgehammer To Your Economic Future) I’m reminded of these divergent analyses with today’s blockbuster BLS jobs report concluding 517,000 jobs were created in January, drubbing the 188,000 expectation. How did the economy create one of its highest numbers of monthly new jobs over the last couple of years at the same time tech companies were … [Read more...] about ALFREDO ORTIZ: Sunny Jobs Report Hides The Ugly Truth About Biden’s Economy

Representative image. Banks are likely to raise interest rates on Fixed Deposits (FD) because of impending competition from a new savings scheme announced in Budget 2023 that offers an annual rate of 7.5 percent, experts said. The Mahila Samman Savings Certificate will provide a competitive interest rate of 7.5 percent on deposits maturing after two years. Experts said banks will have to keep a check on how this plays out for them and work on their FD rates. “Banks are playing smart by providing high interest rates for selective tenures, which has partially worked out for them. But they are likely to work on hiking interest rates for FDs,” said Chandan Sinha, former executive director of the Reserve Bank of India. Other than the new scheme, experts said banks may see some competition for deposits in the coming months from the existing Senior Citizen Savings Scheme and Monthly Income Account Scheme that saw an enhancement in deposit limits from Budget 2023 . “The … [Read more...] about Banks likely to hike FD rates in line with new savings scheme in budget 2023, experts say

This has been a pragmatic budget which, on one hand, strikes a delicate balance by focusing on inclusive development, supporting small businesses, boosting income for the middle class, reducing compliances and promoting entrepreneurship. The endeavour of the Union Budget presented by the finance minister on February 1 is to create opportunities for citizens in an inclusive manner, with emphasis on growth and job creation, along with strengthening the macroeconomic stability. It aims to provide a further impetus to India’s growth story by introducing new tax measures which will, certainly, uplift the entrepreneurial spirit and will provide relief to the citizens. Decoding Tax Sops For Individuals Battered by rising inflation, India had high expectations from this Budget, especially when it comes to tax payments and reforms. Currently, those with income up to Rs 5 lakh do not pay any income tax. This rebate has been increased to Rs 7 lakh in the new tax regime, which means … [Read more...] about How Budget 2023 benefits the middle class, startups and MSMEs