Route 422 Business Advisor

From the Editor's desk at Route 422 Business Advisor — Relevant news and information of interest to business owners and operators along the Route 422, Route 100 and Route 30 corridors in Southeastern Pennsylvania. Please visit www.422bizmag.com

 

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Economic Development in Pottstown Gaining Momentum

Pottstown has been rediscovered and is being appreciated for all that it has to offer.  Businesses are moving into and choosing to stay in Pottstown due to its increasing assets. One such asset is the diversity of properties that are available for development.  There are many buildings that still have the beauty of original architectural features that display craftsmanship not found today. There are traditional office structures in an office park setting and lots which are blank slates.

Employee Personnel File Basics – Part II: Storage and Access

In the previous article, we reviewed the basics of employee personnel files – what should and should not be filed in the personnel files. Items such as W4’s, performance appraisals, applications and resumes are all to be maintained within the employee personnel file. Any document of a medical nature should not be contained in the employee personnel file. Rather, a separate employee medical file should be created to hold items such as doctor certificates, disability related documentation, and completed Family Medical Leave forms.

Must You Pay Income Tax on Inherited Money?

Greg Koch's picture

The good news is, generally inheritances are not taxed as income.

An inheritance can be a windfall in many ways—the inheritor not only gets cash or a piece of property, but doesn’t have to pay income tax on it. Someone who inherits a $500,000 bank account doesn’t have to pay any income tax on that amount.

Employee Personnel File Basics — Part I

Many small companies, for purposes of this writing, small refers to companies with 125 employees and under, do not have a Human Resource Department. The HR responsibilities generally land on someone in management, or sometimes even an employee in a clerical position, to contend with. In these cases, the most common basic mistakes are within the files. Oh, the dreaded employee personnel file. For some, the personnel file represents the catch‐all file where every document, paper, note, etc., from the employee, finds its final resting place.

The Next Healthcare Reform — The American Heathcare Act (AHCA)

Much anxiety and concern surrounds the proposed changes to healthcare in the United States. This is easily understood considering healthcare has already gone through significant changes over the last several years. Some of these changes have been helpful while other changes have caused hardship to Americans.

In addition to anxiety and concern, there is also confusion surrounding the current House Bill. Let us take a look at a few of the most predominant features of the Bill:

Documents Everyone Must Have

Greg Koch's picture

Once you become 18 you are now considered an adult and can make your own decisions. There are certain documents that everyone must have. If you don’t, it could cost you dearly in several ways. These must-have documents are: a Living Will, A Durable Power of Attorney for Finance, and for Health, also called a Health Care Directive or DPOA.

New Investment Drives Economic Development in Pottstown

Public and private investment is flowing into Pottstown. How much? During 2014 and 2015, approximately $3.5 million in Federal, State, and County grants were awarded to community and economic development projects throughout the Borough. Over the last 12 months alone, over $4.3 million in private capital has been invested to acquire commercial buildings in just two blocks of the downtown. Additional private dollars are being put to work funding projects in other areas of town.

“Careers in 2 Years” Part 2 — Cultivating a Skilled Workforce to Meet a Growing Demand in Berks County

Manufacturing has always been a vital part of Berks County’s economy. “We have almost twice as many people involved with manufacturing as the counties that are contiguous to us, in great part because of the legacy of manufacturing in Berks County,” says Jon Scott, president of Greater Reading Economic Partnership (GREP). “We are known for having people with that skill set.”

Economic Development in Pottstown Gaining Momentum

Pottstown has been rediscovered and is being appreciated for all that it has to offer.  Businesses are moving into and choosing to stay in Pottstown due to its increasing assets. One such asset is the diversity of properties that are available for development.  There are many buildings that still have the beauty of original architectural features that display craftsmanship not found today. There are traditional office structures in an office park setting and lots which are blank slates.

Employee Personnel File Basics – Part II: Storage and Access

In the previous article, we reviewed the basics of employee personnel files – what should and should not be filed in the personnel files. Items such as W4’s, performance appraisals, applications and resumes are all to be maintained within the employee personnel file. Any document of a medical nature should not be contained in the employee personnel file. Rather, a separate employee medical file should be created to hold items such as doctor certificates, disability related documentation, and completed Family Medical Leave forms.

Must You Pay Income Tax on Inherited Money?

Greg Koch's picture

The good news is, generally inheritances are not taxed as income.

An inheritance can be a windfall in many ways—the inheritor not only gets cash or a piece of property, but doesn’t have to pay income tax on it. Someone who inherits a $500,000 bank account doesn’t have to pay any income tax on that amount.

Employee Personnel File Basics — Part I

Many small companies, for purposes of this writing, small refers to companies with 125 employees and under, do not have a Human Resource Department. The HR responsibilities generally land on someone in management, or sometimes even an employee in a clerical position, to contend with. In these cases, the most common basic mistakes are within the files. Oh, the dreaded employee personnel file. For some, the personnel file represents the catch‐all file where every document, paper, note, etc., from the employee, finds its final resting place.

The Next Healthcare Reform — The American Heathcare Act (AHCA)

Much anxiety and concern surrounds the proposed changes to healthcare in the United States. This is easily understood considering healthcare has already gone through significant changes over the last several years. Some of these changes have been helpful while other changes have caused hardship to Americans.

In addition to anxiety and concern, there is also confusion surrounding the current House Bill. Let us take a look at a few of the most predominant features of the Bill:

Documents Everyone Must Have

Greg Koch's picture

Once you become 18 you are now considered an adult and can make your own decisions. There are certain documents that everyone must have. If you don’t, it could cost you dearly in several ways. These must-have documents are: a Living Will, A Durable Power of Attorney for Finance, and for Health, also called a Health Care Directive or DPOA.

New Investment Drives Economic Development in Pottstown

Public and private investment is flowing into Pottstown. How much? During 2014 and 2015, approximately $3.5 million in Federal, State, and County grants were awarded to community and economic development projects throughout the Borough. Over the last 12 months alone, over $4.3 million in private capital has been invested to acquire commercial buildings in just two blocks of the downtown. Additional private dollars are being put to work funding projects in other areas of town.

“Careers in 2 Years” Part 2 — Cultivating a Skilled Workforce to Meet a Growing Demand in Berks County

Manufacturing has always been a vital part of Berks County’s economy. “We have almost twice as many people involved with manufacturing as the counties that are contiguous to us, in great part because of the legacy of manufacturing in Berks County,” says Jon Scott, president of Greater Reading Economic Partnership (GREP). “We are known for having people with that skill set.”

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