THRIVE, a Paychex Business Podcast

Believe it or not, artificial intelligence has been around for a while. But it is in the past few years that AI has exploded, and hit the mainstream. On this episode of Paychex THRIVE, a Business Podcast, host Gene Marks is talking with Francois Candelon of BCG Henderson Institute, about the current state of AI – the risks and the benefits. Tune into hear what he had to say about misinformation, regulations, autonomous agents, and much more. Topics Include: 00:00 – Episode preview 00:33 – Welcome, Francois Candelon 01:04 – Introduction to BCG Henderson Institute 02:46 – The history of AI 04:35 – The concern with AI 06:38 – Risks of hallucination and misinformation 09:16 – Artificial General Intelligence 11:02 – What is an autonomous agent? 13:29 – Who is responsible for AI? 15:06 – Protecting society from technology 17:48 – A worldwide framework 20:35 – How business owners can prepare 23:19 – Optimism for the future 24:48 – Wrap up Learn more about the current trends in AI. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Following in the footsteps of the SECURE Act of 2019 and the SECURE Act 2.0 of 2022, the Retirement Investment in Small Employers (RISE) Act, is looking to set micro-sized businesses up for retirement success. Take a listen as host of Paychex THRIVE, a Business Podcast, talks with New York State Congresswoman Claudia Tenney about this proposed bipartisan bill. Tune in to hear they talk about what the RISE Act is, to learn more about the minimum allowable tax credit, the status of the act, and much more. Topics Include: 00:00 – Sneak peek into Paychex PULSE podcast from HR Tech 01:09 – Episode preview 01:41 – Welcome, Rep. Claudia Tenney 02:01 – Introduction to the RISE Act 04:19 – Reason for RISE Act 05:04 – Background to SECURE Acts 06:32 – Type of tax credit 07:18 – Bipartisan support 09:43 – Status of the RISE Act 12:25 – Making people aware of the program 14:47 – Other legislation that would be great for business owners 18:59 – Wrap up Learn more about the SECURE Act 1.0 and 2.0 at www.paychex.com/retirement-services/secure-act-faqs Find out how Paychex can help you with retirement services at hwww.paychex.com/retirement-services. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

If people are impacted by inflation, they aren’t showing it because retails sales were up in September, bettering expectations. Gene Marks says financial institutions are changing their forecasts and the holiday season might be a good one for businesses. Despite the rosy numbers there, layoffs continue in tech and the financial fields, but Gene sees this as a plus for the talent pool for smaller businesses. There will be extra money in the pockets of employees in the healthcare industry in California as a new law puts the minimum wage at $25 an hour, but it’s going to hurt businesses. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Now more than ever, having the right CRM platform is essential for your business, especially for those in the home services industry. On this episode of Paychex THRIVE, a Business Podcast, host Gene Marks is talking with the CEO and Co-Founder of Jobber, Sam Pillar. Take a listen to hear what Sam had to say about why and how he started Jobber, why it has become such an important product for the home services category, the user experience, and more. Topics Include: 00:00 – Episode Preview 00:36 – Welcome, Sam Pillar 02:50 – Background in CRM software 05:08 – Introduction to Jobber 08:57 – The impact of the past year 09:47 – How Jobber raised capital 11:42 – A product for the home services category 13:48 – Transforming the home services category 15:42 – An operations management program 17:59 – How Jobber is changing these businesses 21:19 – The implementation model 22:29 – User experience 24:42 – Customization and software integrations 27:29 – Getting up and running with Jobber 28:48 – The generational transition of business owners 30:05 – An entrepreneurship opportunity 31:39 – Wrap up Have a guest or topic you’d like to suggest for the show? Submit your ideas here. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Reports are that inflation might settle in at 3%, which is lower than expected. The question now is what will the Federal Reserve do with interest rates? Gene Marks shares some insights on that, as well as a few thoughts on the short-term benefits of using credit cards to finance your business and why franchisees should be asking if franchisors can deliver on investing in automation to help with the labor shortage. Listen to this week’s podcast for details. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Laka Sriram, VP of Product at GoDaddy is talking with host Gene Marks of the Paychex THRIVE, a Business Podcast about generative AI and how GoDaddy is implementing these features for their customers, the state of image generation, the current state of SEO-optimized tools, and much more. Topics Include: 00:00 – Episode preview 00:38 – Welcome, Laka Sriram 00:56 – An introduction to GoDaddy 02:13 – What is generative AI? 04:03 – AI features for GoDaddy customers 06:22 – Product descriptions with generative AI 09:04 – The importance of a back and forth with AI 10:12 – Solving the writer’s block 11:15 – How chatbots improve 12:37 – The advantage of GoDaddys tool 13:27 – The state of image generation 17:09 – Intellectual property issues 17:45 – SEO-optimized AI tools 20:19 – Wrap up Hear more about what’s going on in the world of Artificial Intelligence with our podcast episode with Chief Futurist at ARK Investment Management, Brett Winton at www.paychex.com/worx/podcasts/business/chatbots-metaverse-robots-and-more. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

For employers who have worked a lifetime building their business and financial estate, 2025 could bring a heft of new taxes and tax rates, meaning less money you get to keep, if the tax cuts from 2017 are allowed to expire. Another perk – the New Market Tax Credit – might also go away in 2025, and Gene Marks shares that so will the projects it funds and jobs it creates in rural and urban areas. Gene also says employers and HR managers should review office policies around harassment after the EEOC released guidance for the workplace. Listen to this week’s podcast for more details. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Congressman Lloyd Smucker of the State of Pennsylvania is talking with Gene Marks about his sponsored bill, the Main Street Tax Certainty Act. Tune in to this episode of Paychex THRIVE, a Business Podcast, to hear what he had to say about where this bill stems from, what types of businesses this act will support, more about tax rates and previous acts, and much, much more. Topics Include: 00:00 – Episode preview 01:02 – Welcome, Congressman Lloyd Smucker 01:30 – Introduction to the Main Street Tax Certainty Act 02:20 – What businesses this act supports 03:30 – What a small business is defined as 03:58 – Growing the economy 05:28 – Where this bill stems from 07:01 – Tax rates 07:32 – Tax Cuts and Jobs Act 11:05 – Main Street Tax Certainty Act 12:10 – Where the bill goes from here 12:40 – Who has endorsed this bill 13:45 – Any opposition to this bill 15:03 – Success of Tax Cuts and Jobs Act 18:02 – Outlook of the future 20:49 – Wrap up Have a guest or topic you’d like to suggest for the show? Submit your ideas here. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

ChatGPT is adding personas and will be able to do multiple voices or even read you a bedtime story. Gene Marks shares some tips on why generative AI should be on your radar and how your business should approach the AI wave. Net neutrality has been proposed again and Gene has insights into the pros and cons for your business. Meanwhile, despite inflation and interest rates remaining high, small businesses are the most confident in the U.S. economy since the pandemic ended. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

As we continue with Cybersecurity Awareness Month, we’ve got Dan Lohrmann, Field Chief Information Officer at Presidio on this week’s episode of Paychex THRIVE, a Business Podcast. Tune in to hear him chat with host Gene Marks about the services Presidio offers, as well as why businesses of all sizes need to be prepared for cyber-attacks, what they can do, the added risk brought on by remote workers, how major attacks happen, and much more. Topics Include: 00:00 – Episode preview 01:00 – Welcome, Dan Lohrmann 01:32 – Introduction to Presidio 02:49 – What services Presidio perform 05:52 – Common findings from assessments 06:29 – SaaS security 08:03 – Why care about security? 11:44 – The importance of being prepared 13:14 – The security concerns over remote workers 16:06 – How major cyber attacks happen 17:24 – Diving into Dan Lohrmann’s book 23:16 – Not just a big business problem 24:36 – Protecting your business 27:35 – Deep fake and AI 31:53 – Wrap up Learn more about the importance of cyber security: https://bit.ly/46qaWfX Find out more about cyber liability insurance: https://bit.ly/452RtAR DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

The IRS is hiring thousands and thousands of more specialized personnel, primarily to increase audits on the wealthy and corporations. Gene Marks says that small businesses should be prepared to get caught in that net. In California, some franchise fast-food employers should prepare to pay a higher minimum wage, while Walmart goes the other way by paying different wages for the same job. Listen to what Gene Marks has to say on the podcast about states singling out industries to pay higher wages and what the Walmart decision is actually indicating. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

October is Cyber Security Month, and we’re kicking it off early with Jonah Wisch, Program Director of the National Cybersecurity Center (NCC). Listen in a Jonah talks with Gene Marks, host of Paychex THRIVE, a Business Podcast, about what the NCC does, cyber insurance, the importance of cyber awareness training, and more. Topics Include: 00:00 – Episode Preview 00:48 – Welcome, Jonah Wisch 03:18 – National Cybersecurity Center (NCC) 04:53 – Funding for the NCC 05:33 – Cyber for small businesses 06:08 – Cyber insurance 07:43 – Cyber risk questionnaires 11:25 – The role NCC plays in cyber insurance 13:05 – Cyber guidance from the NCC 13:33 – NIST Cybersecurity Framework 14:07 –Cybersecurity and Infrastructure Security Agency (CISA) 14:38 – Center for Internet Security Top 18 14:56 – What is a framework? 16:52 – Email compromise 18:07 – Ransomware 19:20 – Risk with AI 20:26 – Cybersecurity awareness training 23:20 – Wrap up Learn more about the importance of Cyber Security at www.paychex.com/worx/podcasts/business/kristin-harper-cyber-security-for-small-businesses Find out more about cyber liability insurance at www.paychex.com/business-insurance/cyber-liability-insurance. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

The IRS announces a moratorium on reviewing any ERTC claims received after Sept. 13, 2023, until the new year, although businesses can continue to file. Basically, expect delays in the process. Some good news: the rate of entrepreneurship is rising in the U.S., led by women and people of color, according to study by Babson College that shows 19% of adults is starting a business or has done so. Gene has some suggestions about certain approaches to this, and he comments on how to offset the rising health care costs for employers providing plans for employees. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Have you considered buying a business or selling your current business? Now may be the right time. Take a listen to this episode of Paychex THRIVE, a Business Podcast, as host Gene Marks talks with Bob House of BizBuySell about what you should know about the current market and how to go about buying – or selling—a business today. Topics Include: 00:00 – Episode preview 00:32 – Welcome, Bob House 01:36 – Introduction to BizBuySell 02:23 – What is the CoStar Group 03:33 – What BizBuySell offers 05:38 – Unique business offerings 07:41 – State of the market 09:34 – Impact of interest rates and financing 12:31 – Advice BizBuySell offers business sellers 14:21 – Influence of seller once business is sold 15:40 – Employee ownership plans 17:00 – Tax incentives for buying and selling businesses 20:05 – Ease of buying a business today 21:34 – Asset transactions 23:17 – Thoughts on multipliers 25:05 – Hot industries for those buying businesses 27:32 – Business broker 30:13 – Wrap up Have a guest or topic you’d like to suggest for the show? Submit your ideas here. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

A 17 percent month-over-month increase in bankruptcies is concerning, especially with rising interest rates, but Gene Marks shares how businesses can get help and protect themselves under the Small Business Reorganization Act of 2019. Also, a bank teams with the Pittsburgh Penguins to offer a training camp to guide and train small businesses, much like the Massachusetts prison system is providing skills training and education to inmates to prepare them for the workforce. Listen to the podcast to learn how this can be a benefit to your business. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Looking for another way to improve the customer experience? Your communication technology plays an important part in that. Tune in to this episode of Paychex THRIVE, a Business Podcast, to hear from John Antanaitis, Vice President of Global Portfolio Marketing at Vonage, as he talks with host Gene Marks about how companies like Vonage are evolving, what Vonage offers its clients, the impact of artificial intelligence, and more. Topics Include: 00:00 – Episode preview 00:49 – Welcome, John Antanaitis 02:02 – How the market has changed product offerings 04:28 – Introduction to unified communications 06:03 – How Vonage differentiates itself 08:46 – Recommendations for small business owners 13:27 – Data involvement 16:16 – Leveraging APIs 19:23 – Types of customers for communication platform use 21:52 – Where communication platforms are going 25:05 – AI in communication 28:56 – Wrap up Have a guest or topic you’d like to suggest for the show? Submit your ideas here. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Although job growth has slowed for a sixth consecutive month, North Carolina continues to be the place to find work, overtaking Texas for the top spot, according to the Paychex | IHS Markit Small Business Employment Watch. On the other side of the job market — schooling — Gene Marks says that the benefits provided in SECURE 2.0 to roll leftover 529 plan funds into a Roth IRA without penalty are key and businesses should consider providing 529s to employees. Businesses also could help themselves by planning for any impact created if the proposed overtime rule becomes final. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Skilled trades might get a boost, as nearly half of Gen Zers surveyed said they are exploring this option over college, and Gene Marks says it’s a good thing. We need good trades people, and the jobs are there. Small businesses should follow big businesses — 77% say mental health access is prime focus. Are you prepared for a potential government shutdown? Gene shares his thoughts on the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

When it comes to cybersecurity it’s essential for any size business. In fact, small businesses are often the prime targets for cyber attacks. That’s why host Gene Marks is talking with Kristin Harper, Manager of Operations Security at Paychex about what you can do to protect your company from cyber criminals. Topics Include: 00:27 – Meet Kristin Harper 01:03 – Kristin’s job as Manager of Operations Security 02:51 – Cybersecurity in small business 03:42 – User education to prevent cyber crime 04:53 – What is phishing? 05:24 – Smishing: SMS phishing 09:32 – The rise of social engineering 10:20 – The impact of malware 12:14 – What to do to lower the risk of an attack 14:35 – Cybersecurity and remote employees 15:42 – Securing your home network and your software 17:30 – Should you be using security software? 19:11 – Cyber insurance Find out more about cyber security as it relates to business at www.paychex.com/articles/management/cyber-security-and-a-secure-business. Read more about the importance of cyber liability insurance at www.paychex.com/articles/human-resources/cyber-liability-insurance-why-your-business-needs-it. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

In this episode of the Paychex THRIVE Week in Review podcast, host Gene Marks delves into the upcoming increase in minimum wages across several states, including California, and ponders the possibility of a national minimum wage change. Shifting gears, Gene examines the evolving landscape of remote work, highlighting a study revealing that many bosses regret their initial return-to-office decisions. He emphasizes the importance of flexibility and taking employee needs into account when formulating work-from-home policies. Lastly, Gene explores the benefits of Employee Stock Ownership Plans (ESOPs) and their potential advantages for both business owners and employees. He cautions listeners about recent IRS scrutiny of ESOPs, emphasizing compliance and proper setup. Tune in for valuable insights on these timely business topics. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Tune into this episode of Paychex THRIVE, a Business Podcast to hear as, host Gene Marks talks with Employment Attorney and Partner at Fisher Phillips, Lauren Sobaski, about two key topics impacting employers today. Tune in to hear what she has to say about the current religious accommodation case of Groff v. DeJoy, employment retaliation, and what employers should consider when addressing their workplace policies. Topics Include: 00:00 – Episode preview 01:10 – Welcome, Lauren Sobaski 01:50 – What an employment attorney does 02:55 – Introduction to Groff v. DeJoy 06:12 – How the lower courts sided 08:16 – The definition of significant 09:43 – The potential for more lawsuits 11:33 – Defining religious accommodation 12:43 – Possible timing 13:34 – What advice is Lauren giving? 15:16 – Last thoughts on Groff v. DeJoy 18:10 – Retaliation claims from employees 20:50 – Where employees make retaliation claims 21:39 – The importance of training and policies 24:19 – Wrap up Have a guest or topic you’d like to suggest for the show? Submit your ideas here. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Businesses have reporting requirement deadlines approaching regarding their true or beneficial ownership, which many small businesses aren’t aware of. Gene Marks shares information about how the U.S. Treasury is taking action to educate businesses about their compliance obligations. Businesses should also know that a rule on pregnancy accommodations will be coming from the EEOC. And, apparently, employee retention can be bolstered with a song and gift on an individual’s birthday. Listen to the podcast for details. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Have you ever heard of SCORE? And do you know what they do? Take a listen as host Gene Marks talks with CEO of SCORE, Bridget Weston on this episode of Paychex THRIVE, a Business Podcast. Take a listen as they talk about how SCORE works to provide businesses with mentorship, how you can prepare yourself to work with SCORE, the change in the labor market and how to retain talent, and the ever-growing topic of AI. Topics Include: 00:00 – Welcome, Bridget Watson 01:43 – Introduction to SCORE 03:06 – Who is SCORE for? 04:44 – Becoming a SCORE consultant 06:03 – Pairing mentors with business owners 09:34 – The mentor mentee relationship 14:31 – SCORE code of ethics 16:23 – Preparing yourself to work with SCORE 18:58 – Attracting and retaining talent 21:23 – How the labor market has changed 23:36 – The importance of flexibility 24:46 – How SCORE is helping with AI 29:24 – Not-for-profit and for-profit businesses 29:47 – Wrap up DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Employers who conducted remote document inspections related to Form I-9 during the pandemic have until Aug. 30, 2023, to review those same employee documents in person. Gene Marks discusses additional changes to Form I-9 that are intended to make completing this required employment eligibility form a simpler process. In other news impacting businesses, Visa announced it will send auditors to businesses to ensure they are not passing along inflated surcharges to customers that break the terms of agreement. The penalties are steep. Listen to this week’s podcast for more details. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

We’re talking to Lyn Alden again and this time we’re diving deeper into the economy now and in the future. Take a listen as Lyn and host, Gene Marks, touch on the current and future state of the economy, including the housing and real estate market, the expectations on inflation, business financing, and more. Topics Include: 00:00 – Episode preview 00:52 – Welcome, Lyn Alden 03:01 – Current state of the economy 03:34 – Housing and real estate 07:46 – Mortgage refinancing 09:59 – Shortage of available housing 12:00 – Deficits and spending 15:35 – Expectations on inflation 18:35 – The state of interest rates 23:30 – Corporate financing 26:36 – The future of the economy 29:11 – Wrap up Get more information on different types of financing for small businesses at www.paychex.com/articles/finance/securing-small-business-financing. Hear more about the state of the real estate market with our podcast episode with Ryan Serhant at www.paychex.com/worx/podcasts/business/ryan-serhant-gets-real-about-real-estate. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

With high temperatures and crushing heat indexes across the United States, the Biden administration pushed the Labor Department to remind workers of their protections and rights, and businesses could face enforcement for safety violations. Gene Marks also shares thoughts on the Mental Health Parity and Addiction Equity Act, as well as reminds small businesses that states are rolling out programs for grants and funding that could ease some of the inflationary and credit pressures. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Join host Gene Marks in this insightful episode as he discusses the Employee Retention Tax Credit (ERTC) with Erin Lierheimer, Senior Technical Product Manager, and Ken Bersani, Manager of Operating Risk, both from Paychex. Learn how businesses can claim retroactive credits for pandemic-related losses. Discover the ERTC qualifications, eligibility, timeline, and how Paychex can assist in the process. Don't miss out on valuable information about the ERTC benefits and deadlines for claiming retroactive credits. 00:00 – Introduction­ 00:15 – Financing trends for 2023­ 01:01 – What is the ERTC?­ 03:15 – Guest introduction­ 03:51 – Meet Erin Lierheimer­ 05:39 – Meet Ken Bersani­ 06:14 – Using a professional for ERTC­ 07:25 – Can you still obtain the ERTC credit?­ 07:43 – Retroactive amendments to ERTC­ 08:09 – How long does it take to get refunds?­ 08:33 – ERTC timeline and leaving yourself time­ 11:38 – How Paychex helps with the process­ 12:09 – ERTC with other loans and credits­ 15:41 – Qualifications and eligibility for ERTC­ 15:51 – Full or partial shutdown­ 19:45 – Decline in gross receipts­ 22:47 – Recovery startup businesses­ 25:02 – Key dates­ 26:07 – Auditing by the IRS­ 30:51 – Wrap up Discover more about the benefits of the ERTC at www.paychex.com/worx/guide/ertc-resource. Find out more about the deadlines to retroactively claim the ERTC www.paychex.com/articles/compliance/employee-retention-credit. Learn more about the ERTC and how Paychex can help at www.paychex.com/tax-services/employee-retention-tax-credit-services. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Personal credit card balances are rising, so banks are holding onto their money and making it tougher for businesses to get loans and lines of credit. Farmers Insurance makes decision to leave the homeowners market in hurricane-prone Florida, which will impact some individuals and potentially businesses, although it’s a small share of the insurance market in the state. Gene Marks also shares that businesses need to take advantage of the Barbie boom while they can. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

One key focus for legislators today is finding ways to combat the retirement crisis in the United States, including the recent passing of SECURE Act 2.0. Tune in to hear as host Gene Marks talks with John Scott, the Director at the Pew Charitable Trusts’ Retirement Savings Project, about the reasons behind the current state of retirement across the country, whether or not pension plans could reemerge, the ins and outs of the SECURE Act 2.0, state run programs, and much more. Topics Include: 00:00 – Welcome, John Scott 00:15 – Pew Charitable Trusts’ Retirement Savings Project 02:03 – The state of pension plans 02:54 – Could something like a pension come back? 04:31 – Incentivizing workers to stay long-term 06:17 – The reasons for the retirement crisis 07:06 – The benefits of workplace retirement benefits 08:26 – Attracting and retaining talent with retirement benefits 11:32 – SECURE Act 2.0 12:36 – Tax credits for starting a plan 13:25 – Expanded savers credit 14:57 – Employer tax credits for matching contribution 17:26 – Matching of student loans 19:52 – Roth 401(k) with SECURE Act 2.0 22:43 – State run retirement plan programs 25:28 – Downsides to state run programs 28:55 – The future of solving the retirement crisis 30:27 – Wrap up DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

In this episode of "Week in Review," Gene Marks discusses three critical news topics impacting small businesses. He analyzes the potential impact of "Threads," Facebook's new platform, on businesses and explores the considerations for choosing the right social media platform. Next, Gene examines a research report on small business borrowing, finding surprising stability despite rising credit card interest rates. He shares insights on accessing capital and how businesses are navigating the current lending landscape. Lastly, Gene warns of a looming UPS strike and advises businesses to prepare for potential supply chain disruptions and higher shipping costs. Join him for valuable insights to help businesses navigate these challenges effectively. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

From simple calls and text messages, to one of the most important tools in your life, mobile devices have seen huge advances in just 10 years’ time. And to keep up with the growing mobile technologies, networks have had to evolve and change as well. On this episode of Paychex THRIVE, a Business Podcast, host Gene Marks is talking with Mike Katz, the President of Marketing, Innovation, and Experience for T-Mobile. Hear as they discuss the changing environment of mobile technology, the great impact 4G had on our world, the future of 5G, and much, much more. Topics Include: 00:00 – Welcome, Mike Katz 01:46 – Mike’s road through T-Mobile 02:40 – From entry level to President 04:19 – Taking risks in your career 05:52 – The importance of ‘getting stuff done’ 07:48 – The changing environment of mobile technology 08:22 – Impact of the 4G era 09:40 – The 5G platform 10:53 – The need for more powerful networks 13:24 – Differences between major carriers 16:44 – Merger between Sprint and T-Mobile 20:36 – Augmented reality devices 23:39 – The future of mobile hardware 26:16 – Supporting new technologies 30:55 – Improvements to battery 33:10 – Wrap up Have a guest or topic you’d like to suggest for the show? Submit your ideas here. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Jobs numbers took a slight dip but sectors such as the government, health care, and construction continue to grow, especially throughout the South. Gene Marks points to other reliable and interesting data from the Paychex/IHS Markit Small Business Employment Watch. Inflation looms with higher-than-desired interest rates, so Gene suggests planning for the next nine months. Also, the influx of artificial intelligence is getting out of hand. Ask hard questions and ask them of a human. Listen to the episode. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Ever wonder what the U.S. Securities and Exchange Commission (SEC) is and what it does? On this episode of Paychex THRIVE, a Business Podcast, host Gene Marks is talking to Amy Reischauer, Acting Deputy Director for the Office of the Advocate for Small Business Capital Formation at the SEC. Listen in to hear what this office is doing to help small businesses, how they work to protect investors, the education and resources they provide, and where the initial public offering market is headed, and much, much more. Whether you’re looking to raise capital now or sometime in the future, this is an episode you won’t want to miss. Topics Include: 00:00 – Welcome, Amy Reischauer 01:03 – Introduction to Amy Reischauer’s position 03:16 – Educating business owners about the SEC 05:55 – When to get the SEC involved 07:17 – Raising capital with investors 08:04 – Resources through the SEC 09:59 – The most common way to bring on investors 11:31 –Where loans fall in terms of security 12:52 – The SEC’s mission 15:01 – SEC’s part in finding capital 15:57 – What else the SEC does 19:15 – Where the initial public offering market is going 22:09 – A challenging capital environment 23:45 – How the SEC helps women and minorities 25:20 – The Small Business Forum hosted by the SEC 28:23 – What businesses attend the forum 30:08 – The importance of this office 31:24 – Wrap up Have a guest or topic you’d like to suggest for the show? Submit your ideas at payx.me/thrivetopics. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

On this episode of Paychex THRIVE, a Business Podcast, host Gene Marks is talking with the National Director of the Local Initiatives Support Corporation (LISC) and the VP of Small Business and Economic Development Lending, Steve Hall, about grant programs and business financing. Hear what Steve had to say about the grant program with Kevin Hart’s tequila company Gran Coramino, what businesses need to know about financing in today’s economy, how to prepare when applying for grants, improving your eligibility, and much more. Topics Include: 00:00 – Welcome, Steve Hall 01:11 – Introduction to LISC 02:47 – About the small business division 04:46 – Loans from the LISC 08:47 – Grant program with Kevin Hart 10:49 – Grant qualifications 13:22 – Improving eligibility 14:45 – What is needed for grant application 18:10 – The importance of budgets 21:35 – Customer challenges 23:33 – What education businesses need 28:18 – Offering below market rates 32:47 – Wrap Up Learn more about finding the right financing for your business at www.paychex.com/worx/podcasts/business/business-financing-predictions. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

The American Dream is alive. However, 52% of successful entrepreneurs expressed that they don’t want their children inheriting their business. Gene Marks says running a business is hard and he shares insights on why the next generation should chase their own dreams. He also discusses what employers might have to offer to get people to return to the office and highlights why a new mandate for clean air has pizza shop owners in New York City all fired up. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

On this episode of Paychex THRIVE, a Business Podcast, we’ve got economist and thought leader, Scott Galloway talking about his recent book, “Adrift: America in 100 Charts.” Hear as he talks with host Gene Marks about what he had to say about some of the key economic topics impacting business owners today, including the IRS, federal minimum wage, and wealth tax. Topics Include: 00:00 – Welcome, Scott Galloway 0048 – Introduction to “Adrift: America in 100 Charts” 06:51 – An overwhelmed IRS 08:56 – A complex tax code 14:30 – Progress in the private sector 20:34 – Federal minimum wage 24:52 – Local vs. National 27:28 – One-time wealth tax 36:40 – Wrap up DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

The House of Representatives is actively proposing legislation regarding expiring tax credits and other areas, and although they have little chance of passing the Senate, Gene Marks offers some insight about how the stage is being set for the 2024 elections. Inflation seems to be in check but that hasn’t stopped businesses from struggling with the high price of goods to the point that it is impacting startups and people’s ability to get financial backing for their startups. Listen to this week’s podcast for more. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

As artificial intelligence (AI) becomes increasingly prevalent throughout our world, business owners are wondering how it fits into their world. On this episode of Paychex THRIVE, a Business Podcast, host Gene Marks is talking with Chief Futurist at ARK Investment Management, Brett Winton about what he’s seeing in the AI front. Hear what he had to say about everything from how AI is changing software, the future of the metaverse, investing in disruptive challenges, incorporating AI into your company, and more. Topics Include: 00:00 – Welcome, Brett Winton 00:44 – Introduction to ARK Investment Management 02:25 – What is a Chief Futurist? 03:58 – The future of the metaverse 07:14 – How AI will change software 08:00 – When businesses embrace AI 13:19 – Companies working on AI and robots 16:37 – The concern with hardware challenges 21:33 – ChatGPT vs. Auto-GPT 24:06 – Investing in disruptive technologies 28:28 – Incorporating AI into your company 32:42 – How to keep up on all things AI 36:10 – Wrap up DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

As the U.S. Department of Labor delays the announcement of OT Rule, speculation begins on what the salary threshold will be. Some hint it could go as high as $80,000, but Gene Marks suggests that $60K seems more likely. Speaking of change, if pen doesn’t hit paper to resolve the writers’ strike, small businesses that rely on those people working to make a living will take the biggest hit, which other small businesses did when two key tax credits weren’t renewed. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Congresswoman Stephanie Bice from Oklahoma and Congresswoman Chrissy Houlahan from Pennsylvania are part of a bipartisan group working towards the creation of a federal paid family leave. Take a listen as both Representatives talk with host Gene Marks about how they are approaching this initiative, where the money may come from to support it, how they would help business owners, and more. Topics Include: 00:00 – Welcome, Rep. Houlahan and Rep. Bice 00:51 – A bipartisan paid family leave working group 02:58 – The personal interest in paid family leave 04:21 – A focus on FMLA 05:47 – A national vs. state policy 07:35 – A comparison to other nations 09:41 – How paid family leave may be paid for 11:35 – The cultural influence of family medical leave 13:16 – How to support business owners 14:42 – Who would carry out this law 17:54 – Providing flexibility in the workplace 19:29 – Where does the initiative go next? 22:33 – Wrap up Learn about the Family and Medical Leave Act (FMLA) at www.paychex.com/articles/human-resources/fmla-faq. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Nearly 340,000 jobs added in May in the United States and another 10.1 million job openings reported. If people want to work, the jobs are there, especially in service industry such as leisure and hospitality. Gene Marks suggests businesses be ready to offer competitive salaries and the right benefits to land employees. However, some small businesses indicated using AI to reduce the workforce (and payroll), so stay on top of that trend. Also trending; commercial real estate spending. So, Gene says: Follow the money. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Queen Latifah – you know her as a recording artist, actress, producer, label president, and entrepreneur, but did you know all that she’s doing to support business owners? On this episode of Paychex THRIVE, a Business Podcast, Gene Marks is talking to the Queen herself about her Lenovo “Evolve Small” campaign and how it’s supporting small businesses. Listen in to also hear her talk about the importance of prioritizing yourself, finding inspiration and positivity, why women need to support each other, and much more. Topics Include: 00:00 – Welcome, Queen Latifah 01:22 – Lenovo “Evolve Small” campaign 03:51 – Women business owners by the numbers 05:47 – The need to support women business owners 08:04 – Importance of women-owned businesses 09:32 – Prioritizing yourself 10:21 – Overcoming self-doubt and insecurity 11:09 – Women supporting women 13:03 – The need to encourage yourself 13:38 – Finding inspiration and positivity 15:08 – Advice on body image for women 20:15 – Maintaining fearlessness and pushing through 22:03 – it’s time to do better 24:29 – Supporting change for women 25:45 – Wrap up Have a guest or topic you’d like to suggest for the show? Submit your ideas here. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

There’s funding still available for businesses to help them recover from pandemic-related challenges, from Maine to the federal government, and Gene Marks says small businesses need to take advantage. As tweaks are being requested for SECURE 2.0, Gene also suggests businesses not let the opportunity pass to strengthen their workplace retirement benefits. And fueling the remote work debate is an NYU professor who says that Gen Z must get back to the office if it ever wants to see any financial growth. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

When it comes to labor and the workplace, what is the difference between rules and laws? And what topics are top-of-mind within Washington, D.C.? Find out on this episode of Paychex THRIVE, a Business Podcast, as host Gene Marks talks with Labor and Employment Reporter for the Bloomberg Industry Group, Diego Areas Munhoz. Hear about where some of the key labor rules stand, including those on worker classification, overtime, minimum wage, and more. Topics Include: 00:00 – Welcome, Diego Munhoz 0:2:33 – Covering workplace and labor 03:41 – Impact of a new Secretary of Labor 06:11 – Rules vs. laws 07:44 – Status of worker classification rule 10:45 – Debate on worker classification 14:38 – Risk of impending lawsuits 15:49 – Changes to overtime rules 17:58 – Phased changes to threshold 20:25 – Outlook on minimum wage increase 22:43 – Thoughts on national minimum wage 26:02 – Mandated vacation rules 27:49 – Focus on paid leave 29:28 – Wrap up Learn more about the proposed worker classification rule at www.paychex.com/articles/compliance/dol-independent-contractor-rule. Find out what you need to know about overtime at www.paychex.com/articles/compliance/flsa-new-overtime-rule. Find out the impact raising minimum wage could have on small businesses at www.paychex.com/articles/human-resources/raising-minimum-wage. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

The tax deduction that pass-through businesses have been enjoying is set to expire in 2025, but Congress is proposing it become permanent. Gene Marks comments on the significance of that 20% deduction, as well as gives a thumbs-down to the DOL for trying to curtail independent contractors, of which 80% surveyed said they felt more economically secure with multiple sources of income. Marks also looks at a potential ban on fees for customers in North Carolina paying cash. Listen to the episode. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Over the past several years, we have seen mental health stigma disintegrate on a social front. Now, it's your job as an employer to help break down the stigma of mental health in the workplace to better support your employees. Listen as host Gene Marks talks with the CEO of Talkspace, Jon Cohen about the importance of talking about mental health, how essential mental health benefits are for your company, what Talkspace offers, and much, much more. Topics Include: 00:00 – Welcome Jon Cohen 02:24 – Introduction to Talkspace 04:07 – The acceleration of telehealth 06:59 – Talking about mental health 09:06 – Different mental health focuses 10:14 – The importance of talking 11:10 – How businesses use Talkspace 12:30 – The impact of employee health 12:55 – Mental health benefits are essential 13:46 – How services like Talkspace work 14:50 – Matching people with therapists 16:58 – Who is providing therapy services 18:00 – State licensure requirements 20:12 – Privacy policies 24:41 – Does Talkspace prescribe medications? 25:43 – How to provide mentally healthy workspaces 29:21 – Wrap up *80-90% of employer-client Talkspace members stick with their first matched therapist. Learn more about the effects of mental health in the workplace at www.paychex.com/articles/human-resources/workplace-mental-health-effects. Get more resources you need to support employee mental health at www.paychex.com/worx/employee-mental-health. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

It took the ever-changing tech world just a few years to realize that an entire remote work force tamps down what makes tech work best. Now, they want changes, and according to Gene Marks, more creativity is the reason. Gene also is a proponent of states such as North Carolina considering legislation that incentivizes work by waiving state taxes on overtime, and why the Small Business Reorganization Act can be a lifeline for qualified businesses in debt. Listen to this week’s episode. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Generation Z continues to enter the workforce in droves — where, doing what, and for how much? A Paychex special report analyzed the data to answer these questions and Gene Marks shares his own insights on the impact. Plus, job numbers exceed expectations, and every business will be in the mix to hire the right talent. And what is one Florida restaurant thinking by tacking on a huge service fee to their customers’ bill? Listen to this week’s episode. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

With the recent bank failures, many people and businesses throughout the U.S. are wondering what the future may hold for the banking industry. That’s why we’re talking with Sayee Srinivasan, Chief Economist and Head of Research for the American Bankers Association. Hear what he had to say about the state of the banking sector, the importance of micro vs. macro trends, why businesses should build a relationship with their bank, FDIC coverage, and much more. Topics Include: 00:00 – Welcome, Sayee Srinivasan 00:58 – Introduction to the American Bankers Association 05:25 – The economy based on banking data 07:39 – Micro vs macro trends 09:27 – Should we be worried about the banks? 11:08 – The state of the banking system 12:11 – Building a relationship with your bank 14:32 – Questions you should be asking 16:32 – Regulatory requirements 17:56 – Finding data on banks 19:12 – FDIC coverage 23:14 – Competitive non-bank entities 26:19 – Interest rate outlook 30:53 – Wrap up Have a guest or topic you’d like to suggest for the show? Submit your ideas at https://pages.paychex.com/business-podcast-requests.html. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Government agencies and state governments have artificial intelligence on the radar, making noise about regulations to protect the American public especially regarding potential discrimination around lending and housing. Gene Marks also shares insights on which states, according to recent reports, are tough to start a business or hire employees. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.