Effective Strategies for Employee Retention in the Restaurant Industry

In the fast-paced restaurant industry, high employee turnover is a significant issue with profound implications for productivity and profitability. A revolving door of staff members can lead to inconsistent service, lack of continuity, and a persistent need for training new hires. Consequently, discovering and implementing effective strategies for employee retention is crucial for the sustained success of a restaurant.

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What Impact Does the Recent Lawsuit Have on Your Beneficial Ownership Reporting?

As you probably know, most US businesses are required to report company ownership information to the Financial Crimes Enforcement Network (FinCEN) by the end of 2024. The National Small Business Administration (SBA) recently won a lawsuit that may exempt its members from the requirement. However, this decision only applies to members of the National Small Business Administration, which is a small subset of all US companies subject to the reporting requirements.

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The New Mize App, Mize Connect, is Coming Soon!

Exciting news is on the horizon! This May, we are proud to announce the launch of the Mize Connect App, a groundbreaking initiative designed to revolutionize the way our clients' employees access payroll and benefits.

Learn More About Mize Connect

PRISM POINTER

Keeping dollars free of income tax: Today, Tomorrow and Forever TO BUILD WEALTH

Are you taking advantage of tax-deductible, tax-free, and tax-efficient options to keep your dollars free of income tax? You should be!

There are several places to invest your money so they are free of income tax. By taking advantage of them, you will increase your wealth by keeping more money in your own pocket. These include:

IRA Accounts – Early and Often
Roth IRA’s when eligible
Roth IRA Conversions when advantageous
Tax-Free Municipal Bonds (if tax bracket makes sense)
HSA Health Savings Accts – Triple Tax-Free
529 Tax-free College Education Accounts

Ready to put your cash to work? Contact Tim Shmidl, CFP®, CRPC® at 913-345-1444 or tim@prismfg.com.

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