Most employers report that hiring and retaining good talent is a never-ending challenge. Even in times where unemployment rates are somewhat higher, attracting and keeping the right people is not easy. Group benefits have and continue to be a major tool for increasing the perceived value of employment and getting the best employees through the door.

You may provide valuable perks to your employees such as a car, cell phone and paid parking. The value of these benefits is added to an employee’s taxable salary so that the employee will pay income tax on this amount. Since these perks are considered by the government as another form of salary, they must be included in their taxable salary.

Does your business include someone whose contribution is vital to the survival of your company? If yes, then key person insurance should be part of your business continuity and succession plan—especially if you’re a small business owner.

A Buy-Sell Agreement is an integral part of any business plan. While business partners anticipate being in business together well into the future, this is not always the case. A Buy-Sell Agreement sets out the terms and conditions for the transfer of ownership of the business in the event of death, disability, retirement or disagreement. The agreement should include a formula or process for calculating the fair market value of the business in order to simplify the buy-out of an owner.

Many business owners would agree that you have to invest money to make money. Whether it's hiring new staff, purchasing equipment or keeping up with advances in technology, these investments are necessary to ensure the long-term productivity of your business.