Small business optimism dropped again in May. That’s three months in a row below the 52-year average.
But the headline number isn’t the part that stuck with me. It’s the labor data underneath it.
Labor costs just hit a record high in the survey’s 50-year history — 14% of owners now call it their single biggest problem. At the same time, hiring plans fell to the weakest level since May 2020. Only 9% of owners plan to add anyone in the next three months.
Read those two together and it’s a rough spot. Owners are paying their existing people more, but they’re too unsure about the future to bring on help. That’s not really a labor shortage story anymore. It’s a confidence story.
When owners freeze hiring while costs climb, they’re telling you they don’t trust what the next six months look like.
nfib.com/news/press-release/…
If you run a business — are you holding off on hiring right now? And is it the cost, or the uncertainty?
🚨 BREAKING: THE WHITE HOUSE JUST BRIEFED US ON NEW DETAILS ON TRUMP’S IRAN DEAL… AND WOW! 🚨
WH Sources say Iran is READY TO SIGN, the TERMS are SET— now they’re negotiating a PLACE 🔥
THE DEAL? Iran is handing over the NUCLEAR DUST 🔥
Hot take: the scariest tax bill isn’t income tax. It’s the payroll tax you withheld from a paycheck and didn’t send in. Unpaid income tax is a debt the IRS bills you for.
But money you withhold from an employee’s check was never yours — you’re holding the government’s money.
Miss those deposits and you’re looking at the Trust Fund Recovery Penalty, which can come after you personally. Not the LLC. You. So once you put yourself on an S-corp salary, the payroll deposits aren’t optional and they aren’t “I’ll catch up next month.”
Put them on autopilot. The salary debate gets all the attention. The deposits are what actually bite.
I've been using @GustoHQ and really liking it.
Job security comes and goes.
Your ability to learn, adapt, and build is what lasts.
True confidence comes from knowing that if everything disappeared tomorrow, you could build it again.
#BusinessAdvice
Notice how Mexicans love this guy
It’s only liberals who cry about cultural appropriation when everyone’s having a good time appreciating each others’ cultures
The Iran war “ended” the day before the biggest IPO in history, Trump’s birthday, and a UFC card at the White House.
What a coincidence. What timing. Wow.
IRS audit data is out, and it reveals exactly who they are targeting for audits.
(Hint: it's not who you think)
The numbers reveal a clear pattern of who gets examined and how the process actually works. Here's what the data shows.
Your IRS audit odds are extremely low unless you are wealthy.
For Tax Year 2023:
- Under $500K income = less than 0.1% audit rate.
- $500K - $1M = 0.1%. $1M - $5M = 0.4%.
- $5M - $10M = 0.7%. $10M = 2.3%.
The IRS is concentrating resources on high earners, not broad middle-class audits.
New Jersey grocery store owner is seeking the public’s help in identifying a couple caught on surveillance video installing a credit card skimmer on a payment terminal at Gold Valley Supermarket.