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Everything You Need To Know About ESG In 2022

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Sustainability is becoming the top priority for the corporate world. Modern corporate firms are tasked with more than just being profit-driven organizations and revenue-generating machines. People now expect more from them.

Businesses today are expected to have an extra layer of ethics and showcase a moral sense of duty towards society. In recent years, there has been a considerable shift of minds. Investors are looking to invest in companies that include sustainable growth with the primary goal of wealth creation.

The boardroom has taken notes of these things and has started embedding business practices that promote sustainability. In fact, some organizations have started preparing sustainability reports disclosing their performance on the social front, things that have been done to save the environment, and governance parameters.

While many governments have not mandated the creation of this non-financial report, it is strongly encouraged in the industrialization community.

What Is ESG?

ESG – Environment, Social, and Governance – refers to an area of the organization that describes its characteristics. These are three factors that define your organization’s ethical impact and sustainability.

Today, most socially responsible investors check a company for its ESG value before making any investment decision.

To put it simply, ESG is a generic term used in the capital market by investors to evaluate the behavior of the company and its financial potential.

The number of investment funds has been growing rapidly since the beginning of this decade. Moreover, experts believe that this will only continue to grow over the decades.

Seeing how ESG is becoming the new norm for the corporate world, you must start implementing ESG in your business operations. Visit this website to get quotes from professionals.

Why Is ESG Important?

The strong performance of your business across these three pillars shows your business’s resilience. You must understand that even a simple task of reducing office waste is as important as reaching out for social activity. Businesses must be able to demonstrate their progress to their audiences in their non-financial reports.

The idea here is to showcase that the business has the capability to take a risk and protect the longevity of the environment and society they are operating in. Hence, you can say that ESG has implications throughout the entirety of business operations. 

Particularly the Supply Chain based companies.

After all, 90% of the GHG emissions are found in the organization related to the supply chain. 

How Is ESG Measured?

ESG performance throughout the supply chain is measured and rated. The measurement is similar to the risk and performance benchmarking common amongst financial institutions. 

However, there is some discretion regarding their method and framework governing the ESG scoring. Here are some best practices that you can look into.

  • Any verifiable disclosure related to ESG needs follows a specific set of mandatory and voluntary requirements.
  • Transparency needs to be clear in this matter. This is because the ESG report will decide which company comes out as a sustainability leader and the other as a laggard
  • For example, there might be a company that is not a carbon-neutral company but might be making efforts to become one. If the company is not transparent about its process, the investors and stakeholder might not show their interest.

Measurement of ESG is important to showcase your activity towards sustainability. This not only helps you become a better organization but also acts as a marketing tool to boost your company’s influence in the industry.

A Closer Look At ESG’s Pillars

Within each pillar, management firms and investors can evaluate different criteria. These criteria can be used to define how a company is performing on the sustainability front.

Here is what you can see when we dissect the three pillars of ESG.

Environment

To see the extent of your company on the environment, you must ask yourself – how is your company affecting the environment?

Admirably, it is a broad-based category. However, there are several issues that could risk the long-term sustainability of your business. This might include –

  • Dependence on fossil fuel for energy.
  • Poor management of water and other resources.
  • Pollution levels.
  • Disposal of hazardous materials.
  • How deep is the carbon footprint your company is leaving?

Social

As a company expands itself and holds influence over the customers, it becomes a social responsibility for them to guide them. This include –

  • Product safety and liabilities.
  • Employment quality.
  • Gender diversity.
  • Training and development.
  • Supply chain transparency.
  • Stance on various topics that affect social well-being.
  • Human rights.
  • Privacy issues.

Governance

The governance pillars support how the organization works internally. If every individual in the organization does not share the same goal, the company might not last for long.

The issues that might be considered while evaluating a company include –

  • Board and company diversity.
  • Actions were taken against bribery and corruption.
  • Compensation of employees.
  • Ethics and values.
  • Shareholder rights.
  • Transparency and anti-corruptions.

The Future Of ESG

The future of ESG is promising and challenging. Incorporating ESG in your corporate reporting is a powerful tool that helps you gain a competitive advantage over your competitors.

With the right implementation of ESG, you can strengthen your internal business operations and maintain a healthy relationship with your investors and stakeholders.

Companies that want to sustain their business for the long term are expected to increase their efforts toward ESG. 

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In Business

What to Remember When Filing Small Business Taxes

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Filing taxes as a small business owner can be challenging but it’s a familiar pain. As we speak, there are over 32.5 million small businesses in the US, all of which know the struggles of small business taxes.

Keeping track of your business finances and preparing for small business taxes can save you a fortune on your company taxes. Here’s what you need to know to prepare yourself and your business finances!

  1. Don’t Forget Financial Records

You should have a clear record of all of your business expenses and revenue. There are many forms this could take, but you will need this for an accurate filing.

For example, you may have received 1099 forms or you may have a PayPal, Venmo, or payment processing account that saves these records for you. These will all need to be accounted for prior to filing.

After that, you’ll need a detailed record of your business expenses and potential deductions. This could be in the form of receipts, bank/credit card statements, or a detailed list of expenses. Regardless, some often overlooked examples include:

  • Business mileage
  • Insurance premiums
  • Software costs
  • Employee salaries and benefits
  • Charitable donations
  • Moving expenses

The list goes on. If you spent money on something solely for your business, then it should be deducted from your tax bill.

  1. Find the Right Forms

1099-Misc, 1099K, or 1120s might be right for your business, depending on its structure of it. If you’re a freelancer or if you’ve provided more than $600 worth of services to a single organization during the fiscal year, then you may receive a 1099 form for your compensation.

For most sole proprietorships, you’ll file a 1040 tax form as a small business owner. However, there are plenty of exceptions to this, especially depending on your industry.

On the other hand, an LLC may need to file an 1120 or 1120S form. Just make sure you know which form is right for your business structure. Nonprofits, corporations, and other types of organizations will have to file different forms as well.

  1. Have Professional Help

If this is your first time filing small business taxes or if you’re worried about a large tax bill this year, then it can really pay off to have professional help. In that case, talk to Silver Tax Group to get you the help you need, maximize your deductions, and give you peace of mind in the event of an audit!

Also, you won’t have to worry about making any costly mistakes on your taxes such as filing the wrong forms, accidentally filing inaccurate information, or overpaying.

File Your Small Business Taxes Today

Now that you know how to prepare for small business taxes this year, set yourself up for success and avoid overpaying. With the right business tax preparation cornelia ga and the right help, doing taxes will be a piece of cake.

Get started today and stay up to date with our latest business news for more information and financial advice!

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About Medicare
In Insurance

3 Things You Need to Know About Medicare

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Medicare is a vital program that is deemed one of the most important social programs in our country. It acts as a lifeline for millions of Americans who are 65 or older, disabled, or suffering from end-stage renal disease. Given its importance, it’s no surprise that there is a lot of misinformation out there about the program. To help you sort through the noise, we’ve compiled a list of 3 things you need to know about Medicare.

What is Medicare?

Medicare is a federal health insurance program that provides coverage to seniors aged 65 and over and selected individuals who are under 65. This could be people who have been receiving Social Security Disability Insurance (SSDI) for about 24 months or are suffering from end-stage renal disease. This program is run by the Centers for Medicare and Medicaid Services (CMS). In a nutshell, the main purpose of Medicare is to provide health insurance coverage for individuals who are 65 or older.

Medicare reimbursement consulting portland me is funded by a combination of payroll taxes, premiums, and surcharges paid by beneficiaries. And it covers a wide range of health care needs, including hospitalization, doctor visits, prescription drugs, and more. You can also check out the introduction to Medicare to know more about what it is and what it covers. This will help you understand the different parts of Medicare and how they work together.

Top 3 Things You Need to Know About Medicare

1. Medicare Comprises Four Parts

Medicare Part A is hospital insurance covering inpatient care, including skilled nursing facility care, hospice care, and home health care. Medicare Part B is medical insurance covering outpatient care, including doctor visits, preventive services, durable medical equipment, and some home health care.

Part C, also known as Medicare Advantage, is a private health insurance plan that covers everything Part A and B do, and sometimes more. At the same time, Part D is prescription drug coverage. It’s important to know that you are not required to enroll in all four parts, but most people do because it provides the most comprehensive coverage.

2. You have to be enrolled in Medicare to Receive Coverage

You cannot simply sign up for Medicare when you turn 65. You must first enroll in the program. You can do this online, by phone, or in person at your local Social Security Office. You will need to provide some basic information, such as your date of birth and Social Security number. If you are already receiving Social Security benefits, you will be automatically enrolled in Medicare Part A (hospital insurance) and Part B (medical insurance). Please note that you can enroll in Medicare three months before you turn 65 or three months after.

3. Medicare Comes with a Cost

While Medicare is a great program that provides much-needed coverage for seniors, it is important to note that it does come with a cost. There are monthly premiums, annual deductibles, and copayments/coinsurance that beneficiaries are responsible for. The amount you pay will depend on your income and the type of coverage you choose.

If you have a limited income, there are programs available to help you pay for Medicare costs. If you are not sure what you will be responsible for, you can consult with a professional for Medicare consultation in New York City to discuss your specific situation. They will help you determine what your costs will be and how to best prepare for them.

To Conclude

With the help of this guide, we hope you have a better understanding of Medicare and what it entails. So, if you or a loved one is turning 65, be sure to enroll in the program and take advantage of all that it has to offer. Remember, it is an important part of maintaining your health and well-being.

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In Business

Small Business Management: 5 Tips to Improve Business Efficiency

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According to small company statistics, approximately 40% of small enterprises operating in the United States are profitable. Many businesses get lost in the shuffle and become lost to time with poor small business management practices.

If you want to ensure that your business doesn’t fall prey to this fate, knowing the right business efficiency tips can mean the difference between success and failure.

If so, you’re in luck! In this blog post, we’ll share five tips to help you streamline your business operations.

  1. Define Your Business Niche and Target Market

By understanding your target market, you can better tailor your products or services to meet their needs. Besides, you can develop marketing and sales strategies that are more likely to appeal to your target market.

By zeroing in on who your ideal customer is and what needs or wants your business can fulfill, you can create a focused, efficient small business marketing strategy.

  1. Know Your Numbers in Your Small Business Management 

As a small business owner, it is important to know your numbers to make informed decisions about your business. Knowing your sales data will help you keep track of your progress and keep your company on track.

Also having your workforce numbers can allow you to assess your productivity and pinpoint areas where your company may improve. 

This includes both your financial numbers and your website/social media analytics. If you don’t know how much money you’re bringing in or where your web traffic is coming from, you can’t make informed decisions about how to grow your business.

  1. Create a Streamlined Work Process

There are a few key things you can do to help streamline your work process and improve business efficiency. You have to take a close look at your current process and see where there are any bottlenecks or inefficiencies. Then, work on streamlining those steps and making them more efficient. 

In addition, make sure you have good communication with your team and that everyone is on the same page. Having a clear and concise process that everyone understands will help keep things running smoothly. 

  1. Invest in Automation

By automating repetitive tasks, you can free up employees’ time to focus on more important tasks.

Additionally, automating can help to reduce errors and improve accuracy. There are many different ways to automate your business, so it’s important to find the right solution for your needs.

Automating certain tasks can free up your employees’ time so they can focus on more important things. It can also help improve accuracy and efficiency.

Visit https://www.certus.software/en/ for software that can assist with small business management advice. It conforms with both laws and has the necessary infrastructure to wipe sensitive data and generate a digital encrypted erasure certificate.

  1. Delegate and Build a Strong Team

One of the most important things you can do to improve efficiency in your small business is to delegate tasks and build a strong team. It can be tempting to try to do everything yourself, but this is not sustainable in the long run.

By delegating tasks to others, you can focus on the most important aspects of your business and make sure that everything is running smoothly.

Have an Improved Business Efficiency

There are plenty of small things you can do to make your small business management more efficient. By following these five tips, you can create a more streamlined operation that runs and helps you achieve your goals.

If you are looking for guidance on how to improve your small business management tips? View our page to learn more about what consulting firms can offer you.

 

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In Business

Discrimination at Work: How To React

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Nowadays at workplaces around the world, diversity is the norm. It’s not only people of other cultures coming together but also diverse religions, sexual preferences, economic situations, and more. Even though labor rights have become more and more relevant, inequality in the workplace is still a serious problem in the American workforce.

The Civil Rights Act of 1964 makes it clear that employees should be protected against injustice. Discrimination on any basis is completely illegal and condemnable.

Several activists around the US have been developing strategies to protect human rights at work. For example, consider the work of Mary Beth Maxwell, Google Arts & Culture. As the executive director for American Rights at Work (AWARA) she has done a lot for people’s rights in the workplace. She and others who advocate for this cause have helped people to understand the importance of acknowledging their rights and being able to identify and fight against workplace discrimination. 

Recognize: The First Step To Empowering Employees

So, how does someone know if they have been a victim of discrimination at their job? A good place to look for information is the Equal Employment Opportunity Commission. This government committee strives to protect employees against:

  • Unfair treatment 
  • Harassment
  • Unjustified change of workplace
  • Reprisals

For example, if someone has been humiliated because of their traditional clothes, skin color, or even their sexual preference, either through words or through obligation to perform an act or practice that goes against their beliefs, that person has been a victim of discrimination. The same goes for a disabled person who has the right to not only access a job, but also to keep one and be treated with dignity and respect despite their condition. Discrimination can also be based on age and even on pregnancy and their consequent pregnancy conditions. 

Every case is different, but the premise is still the same: nobody should feel uncomfortable and unsafe in their workplace, and everyone should have an equal opportunity to be considered for work based on their credentials and not any other factor. Employees who report a discriminative practice at work are also protected against reprisals from the company or coworkers.

Supporting workplace rights activists such Mary Beth Maxwell, Google Arts & Culture is essential in helping companies and public institutions provide better workplaces and protect people’s rights.

Act: How To Report Discrimination

The EEOC notes that they take complaints and reports by email, in person, or by phone. The statement can be presented up to 180 days after the occurrence of the event. The report must specify the name and age of the victim, as well as a detailed description of what happened and why the person considers that they have been a victim of discrimination. 

There are two possible ways to solve a dispute:

  • Mediation. This measure is informal, confidential, and faster. Its purpose is to help both parties come to an agreement.
  • Investigation. If mediation does not solve the problem or it is not possible, an investigator will take the case.

Avoiding discrimination in the workplace and empowering workers will help to increase justice in societies. It will provide more and equal opportunities for minorities and vulnerable populations.

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