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Remote Work Yields Savings, But Watch for Tax and Jurisdiction Issues
The pandemic helped to usher in a new wave of remote working — and given the rise of the Omicron variant, that wave seems unlikely to crest any time soon. While the rapid ascent of home offices may have initially come as a shock to more than a few corporate cultures, the truth is that business leaders who embrace long-term remote working can yield significant cost savings and boost employee morale. But first they need to strategize around any number of complex regulatory and compliance issues that can impact everything from business taxes to worker compensation — and often come as a not-so-pleasant surprise to employers without an in-house HR department.
Avoiding those conversations altogether may not be an option. Roughly four million Americans were already working from home well before COVID-19 forced businesses to close their office doors, and many more could be unwilling to return to a cubicle once the public health crisis has subsided. Making a conscious choice to lean into remote working could not only help organizations mitigate employee turnover, but also grant hiring managers access to a wider talent pool no longer constrained by geography — not to mention the savings on overhead costs like office space.
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Bankruptcy Sales: Finding a Diamond In the Rough
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