Sun-Times file Illinois is one of three states that charges income tax but excludes retirement income. Ending the exclusion for people with $100,000 or more in retirement income could net $1.8 billion a year, a new report finds. Illinois lawmakers have shown fiscal discipline lately, but politically toxic tax increases must be considered to fully fund pensions and improve the state’s credit rating, senior business leaders in Chicago said in a report Wednesday. The report by the Civic Committee of the Commercial Club of Chicago said it could support income tax “surcharges” for people and companies, lasting 10 years, provided the additional revenue is earmarked mostly for pensions. It was a notable message from a group that opposed Gov. J.B. Pritzker’s plan for a graduated income tax, with higher rates for higher incomes. The Civic Committee cited Illinois’ history of “fiscal mismanagement” in opposing the plan in 2020. But the finances have improved, and the business leaders can now back higher taxes if there are “lockbox” protections for the money, said Derek Douglas, president of the Civic Committee. Pritzker’s graduated income tax was voted down in a referendum. Among other moves to be considered is a broadening of state […]

Click here to view original web page at chicago.suntimes.com

Sam Jackson will lead the ag-based molded fiber company’s supply chain and sustainability efforts VONORE, Tenn., Feb. 8, 2023 /PRNewswire/ — Genera , a manufacturer of domestically sourced and produced ag-based pulp and molded fiber products, announced today that it has promoted its former vice president of business development, Sam Jackson, to the role of chief strategy officer to manage the company’s supply chain, sustainability, and strategic planning activities. Continue Reading Sam Jackson will oversee the expansion of Genera’s supply chain organization, manage its corporate communications and oversee its stakeholder management as the company’s new chief strategy officer. Jackson will oversee the expansion of the company’s supply chain organization, including its feedstock supply operations, manage corporate communications, and oversee stakeholder management. Additionally, he will manage and advance the company’s sustainability efforts in both feedstocks and manufacturing. "For the past 14 years, Sam has served in various leadership roles for Genera and he has proven himself to be a model of dynamic leadership," said Dr. Kelly Tiller, CEO of Genera. "His expertise in the production of annually regenerative biomass feedstocks and renewable carbon, and in the sustainable utilization of those materials makes him the right choice for the job as […]

Click here to view original web page at www.prnewswire.com

Meredith and Julia have swapped tips on everything from pricing to fighting off self-doubt as they’ve grown their own craft companies. Welcome to Money Talks, a series in which we interview people about their relationship with money, their relationship with each other, and how those relationships inform one another. Meredith Artyukhina is 31 years old and lives in Washington, DC. Julia Beaumier is 27 years old and recently moved from DC to Grand Rapids, Michigan. Meredith runs CapitalStitchCo , an embroidery kit business, and Julia runs a handwoven home decor business called Jetta&Jules (Jetta is her dog). These business besties work together to improve their practices and increase their sales, to the point where both women are earning low-five-figure incomes on their side hustles. Here’s how they got started — and what they’re hoping to do next. This conversation has been edited and condensed. Meredith: I have ADHD, and I think of it like a superpower. I can hyperfocus on an activity for a long period of time. During the height of the pandemic I spent months learning about embroidery, and then I started making my own patterns. The activity was such a relief to my anxiety, and it […]

Click here to view original web page at www.vox.com

The president took credit for strong job growth and his legislative agenda that’s boosted investment in infrastructure and clean energy projects. “I will make no apologies.”Pool photo by Jacquelyn Martin-Pool/Getty Images. Biden picks his battles President Biden delivered a State of the Union address to Congress on Tuesday night that was filled with dramatic moments, meant in part to jump start his 2024 re-election campaign. He also used the speech to press his economic priorities, from bolstering American manufacturing to extending his climate efforts. How far he advanced his causes, however, remains to be seen. Mr. Biden defended his record on the economy. He took credit for falling inflation and strong job growth, and listed promised benefits from his sweeping legislative agenda, including infrastructure, clean energy (even if he did acknowledge , “we’re still going to need oil and gas for a while”) and manufacturing laws that will pour trillions into the economy. He also urged Congress to back initiatives including raising a billionaires tax on the wealthy; expanding a measure in the Inflation Reduction Act that caps the cost of insulin at $35 a month; renewing the expanded child tax credit; and expanding Medicaid and affordable child care. […]

Click here to view original web page at www.nytimes.com

Rich Gunn, Certified Exit Planning Advisor and Partner at accounting and advisory firm BPM , also offers Value-Focused Business Planning. getty Business owners are often unprepared for a business exit and experience a great deal of anxiety when it comes time to sell. Potential buyers will bring in a team of experts to assess risk, commonly contributing to that anxiety. The more risk that buyers discover, the less they are willing to pay for the business. Here are a few steps you can take today to reduce risk and bring even greater value to your business. Taking these actions can help you be better prepared and more confident when you ultimately sell your business. Other benefits may include the realization of greater operational efficiencies, profitability and employee satisfaction. Become A Risk Hunter There are risks inherent in each area of your business operations. Look at each functional area of your business, from warehouse operation to the accounting function, and question, “Where can things possibly go wrong?” Whether it’s preventing warehouse accidents, eliminating operational inefficiencies or preventing theft, eliminating risk can increase current profitability. It also makes your business more valuable from a buyer’s perspective. Ask Your Front-Line Employees You […]

Click here to view original web page at www.forbes.com

The Baltimore Business Journal will honor 14 businesses from throughout the metro area for our 2023 Family-Owned Business Awards. The awards recognize multi-generational businesses that have a record of longevity, achievement and giving back to the community. This year’s honorees span an array of industries, including agriculture, real estate, contracting, manufacturing, moving and storage, and hospitality. The honorees will be profiled in the Baltimore Business Journal’s print and online editions on March 31. You also can meet them in person during an event on March 30. Check back soon for more details. This year’s honorees, in alphabetical order, are: Albright’s Mechanical Services Inc. Allen & Son Moving & Storage Bosley Mouldings Broom’s Bloom Dairy David S. Brown Enterprises Ltd. Capitol Concierge Dunbar Cos. Fireline Harvey Construction Hilliard Developers Jimmy’s Seafood Kelly Benefits SAGE Dining Services Tulkoff Food Products To read about last year’s Family-Owned Business Award honorees, click here .

Click here to view original web page at www.bizjournals.com

Letter states employers are ill-equipped to navigate the mental health tsunami MONTVALE, N.J., Feb. 8, 2023 /PRNewswire/ — EmpiRx Health , the industry’s only value-based pharmacy benefits manager (PBM), published an urgent letter today raising the alarm on the mental health crisis in the United States. Penned by EmpiRx Health CEO Karthik Ganesh, the letter describes the monumental problem employers face in the wake of this crisis and how business leaders are ill-equipped to support their employees, while also preserving their bottom lines. The letter is a critical call to action for employers, who assume more than 80% of the cost of care on behalf of their employees , to "reclaim healthcare." Continue Reading "The cost of addressing the crisis pales in comparison to the cost of inaction, in both human and financial terms," states Ganesh. "As employers, we often blindly agree to the status quo. We accept that our benefits costs will increase year over year while the quality of care remains the same. We must evaluate our options and stop pretending to be an innocent bystander in this situation. Our employees depend on us." Organizations must act with urgency to reclaim healthcare benefits now. Tweet this Employees […]

Click here to view original web page at www.prnewswire.com

In a company’s early days, the owner and staff are usually focused on just keeping up with the work, and systems can be set up on the fly with little thought of the future. As the business continues to grow and evolve, it can be all too easy to build on existing inefficiencies or see teams retreat into silos, resulting in wasted budget dollars going to everything from overlapping software services to unused office space. As leaders in the financial space, the members of Forbes Finance Council have plenty of experience in helping their business clients find ways to trim budgets and better allocate resources. Below, they share 13 common ways businesses waste money and offer better, more efficient ways to spend that hard-earned cash. Members pictured from left to right (EJ Paul not pictured). Photos courtesy of the individual members. 1. Underutilizing Purchased Software Understanding what software your company should be using is different than actually using the software. Most businesses we talk to utilize less than 20% of what they are paying for with their accounting software. Working with a conversion specialist will allow you to modify your license to pay for what you are using or […]

Click here to view original web page at www.forbes.com

From the southwest corner of Nigeria, a pioneering social enterprise called Durian is lifting rural women out of poverty to become economically self-sufficient and confident of their value in building a more sustainable world. Training women to turn local waste into sustainable livelihoods is breaking through cultural norms that have historically relegated Nigerian women to powerless second-class citizens. In doing so, Durian is building a vibrant circular economy with measurable results for thousands of women, as well as their families and entire communities. Investing in women in rural communities has tremendous impact on individuals and families, as well as communities and society at-large in creating a more sustainable world. getty Economic independence sustains communities Located in Imafon, a rural community in Ondo state, Nigeria, Durian operates training sites and crop and livestock farms where women produce food, learn how to make crafts and furniture from bamboo and wood, turn fabric waste into fashions, create skin care items from cocoa pod husks, and process food from cassava flakes. Women and their children also participate in development sessions that span adult literacy, leadership, communication and computer skills, finance and banking, and human rights. Participants often assume project lead positions at Durian, […]

Click here to view original web page at www.forbes.com

While most businesses today prioritize their online presence, it’s also important not to neglect the offline side of things. From in-person events to print media to community engagement, there are plenty of ways to attract target audiences when they aren’t on the internet. Whether you’re not sure where to begin or need inspiration for your offline marketing strategy, read on. Below, 15 members of Forbes Coaches Council share tried-and-true ways to boost offline exposure for your business. Follow their recommendations to generate attention outside of the digital realm and draw in new customers. Members pictured from left to right. Photos courtesy of the individual members. 1. Have Agenda-Free Conversations I would encourage a client to have regular agenda-free conversations with a variety of people, be curious about them, avoid pushing, selling or promoting, be driven by a genuine interest in exploration and stay open to what emerges. We never know what connections may form, where ideas can be generated and what possibilities may open. So stay open, stay curious and invest time. – Alessandra Marazzi , Alessandra Marazzi GmbH 2. Go Where Your Audience Is Identify specific areas where you may connect and network with your ideal audience and […]

Click here to view original web page at www.forbes.com