2.28.20

Friday Five Business Briefing – February 28, 2020

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Here’s news to help you run your business better, including tax deductions you can still take; software for managing employees that resembles social media; and why you might want to think like a teenager.

  1. Tax deductions you can claim without itemizing — There are some tax deductions you’re allowed to claim even if you don’t itemize on your return. For example, if you’re self-employed and do not have access to an employer plan, you can deduct the premiums paid for your own coverage as well as your family’s. Discover five more deductions you may be able to claim on your 2019 income taxes.1
  2. Employees want enterprise software to look like Spotify or Instagram — HR tech companies in Michigan are answering the call for workforce tools that resemble the social platforms people use every day. See how updated enterprise software is helping employees and employers better manage things like time and attendance, scheduling and absences.
  3. Tesla’s anti-handbook handbook — Tesla’s employee handbook is just four pages long. Why so short? They’re disrupting the pattern most employee handbooks follow, which tells people “how poorly you can behave before you get shown the door.” The book is filled with straight talk and avoids legalese. See how your company might copy it.
  1. CliffsNotes of business books – Did you know that people who read business books make more money? Our friends at the Small Business Association of Michigan have partnered with The Business Source to offer a monthly Business Book Summary Program that allows subscribers to read or view content in 20 minutes or less. Read all the details about the program and sign up for your subscription before March 3 here.
  2. Maybe it’s time to think like a teenager Entrepreneur magazine profiled 16 young people who are building fast-growing, innovative businesses—some of which bring in millions of dollars of revenue. Read and be inspired by their successes built on smart, fearless thinking.

Thank you to our Friday Five sources: The Motley Fool, Crain’s Detroit Business, Inc. SBAM and Entrepreneur.

Do you have business banking questions? Contact our knowledgeable business development managers or call 800.991.2221. We’re here to help you grow your business!

 

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1Please consult your tax advisor for information specific to you.

Consumers business services

Do you have business banking questions? Contact our knowledgeable business development managers. We’re here to help you grow your business!

 

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