Search results
Your search for “”
State Law May Require Paid Leave, Retirement Benefits
Surveys have long indicated that paid leave and retirement plans are among the most coveted of employee benefits, and their value has only increased as employers continue to face a tight labor market. Increasingly, though, some employers have a reason beyond recruitment and retention to offer such benefits—they now are legally required to do so under state law.
Current Expected Credit Losses (CECL) – What is That?!
In 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The update changes the way an entity measures its credit losses (bad debts) for most financial assets, including trade accounts receivable. This Client Alert provides an overview of the new credit loss standard with a focus on the key provisions that will be common to most entities.
Chicago to Phase Out Subminimum Wage for Tipped Workers
Chicago has joined several states and Washington, D.C. in eliminating the lower minimum wage for tipped workers, sometimes referred to as the “subminimum” wage. The One Fair Wage ordinance, passed by the Chicago City Council on October 6, gradually increases the minimum wage for tipped workers, eventually requiring tipped workers receive the same minimum wage as non-tipped workers.
Renting vs. Buying in Today’s Home Market
According to the Census Bureau, the U.S. homeownership rate has consistently hovered around 66% for some time, but this does not mean purchasing a home—rather than renting—is the right choice for everyone. The decision to rent or buy is one that can cause heated debates, and while the American Dream was to own a house […]
Illinois Office of the Attorney General Clarifies Revised Reporting Requirements
The Illinois Office of the Attorney General has provided additional information on recent amendments to the Solicitation for Charity Act that will be effective January 1, 2024. According to the Office, the new requirements will apply to annual reports that have an initial due date after the January 1, 2024 effective date.
Benchmarking Helps Restaurants Measure—and Improve—Their Performance
Benchmarking is the process of calculating your restaurant’s key financial or operational metrics and comparing them to established standards. Those standards may be industry averages, the performance of “best-in-class” restaurants or even your own restaurant’s past performance. Benchmarking can be an effective tool for identifying areas in need of improvement, spotting dangerous trends while there […]