Posted on 11/20/2011 7:02:36 AM PST by Daffynition
We hear a lot about job creators these days. But Drew Graham, president and founder of Ship-Right Solutions in South Portland, has taken that one big step farther.
He's a life saver.
"She's a terrific investment," Graham said Friday, sitting in his small conference room with receptionist Mary Plummer. "This is not a big company and I'm not a sit-in-the-ivory-tower president. I'm working -- and I know when somebody knows what's going on."
Plummer, 30, is a single mother of three -- Elizabeth, 5, Tyler, 3, and 1-year-old Emma. A resident of Maine since moving here from New Hampshire in 2005, she's worked a variety of temporary jobs in recent years because she's "a little bit prideful" about making it on her own without a Section 8 housing subsidy or other government benefits for which she undoubtedly would be eligible.
(Excerpt) Read more at onlinesentinel.com ...
Nice story in these troubled times! God bless all involved!
Using company money to pay someones rent? Why couldn’t he use his personal credit card?
OUR TAX CODE!
Is this “in-kind” income for which she will be taxed? Will he write it off as an expense?
It’s his company. He can use the company credit card if he wants to.
No you can’t. If that were the case then owners could spend millions and millions a month with nothing to worry about. People go to jail for stuff like that.
Are comments like this suggesting, she would be better off on welfare? Mein Got in Himmel!!
That depends entirely on the legal structure of the company. For instance, I have great discretion about the way I spend money in the company I set up. Businesses often spend (and deduct) a great deal of money on entertaining the employees for purposes of morale- and team-building; they may have all sorts of assistance programs for education, commuting costs, mental health counseling, a gym, travel and food expenses, even decorating the office. Note that in one of the first lines of the article the boss says, “She’s a good investment.” This was not just an act of compassion but an act of excellent business sense, for as I note, it costs a lot to have employee productivity drop due to personal issues, and it costs even more to replace her.
To be fair, that kind of business is not who the OWSers are angry at. They are attacking the so-called “too big to fail” companies. The mega-banks and mega-corporations.
Let’s cut the bull and be completely honest here... if that woman worked for one of the mega-corporations like Wal-Mart, Best Buy, McDonalds, or Bank of America, they would have told her tough luck and get back to work.
Helping a good employee in need ..... Reminds me of the man who owned malden mills when the mill burned down. He kept all his employees on payroll till the mill was rebuilt.
Good boss makes best employees.
Without knowing more about the company’s organization, there are two basic options. The owner can treat it as W-2 taxable income (salary-equivalent) to the employee, and can expense it as salary to the business ... and check that Social Security etc. withholding carefully!
Or, if the company is an old-fashioned proprietorship, he could treat it as a personal gift, within the limits ($13,000?) and not expense it to the company. If the owner is, legally, the company, then the use of the credit card in the company’s name is irrelevant, as long as the bill is paid according to the issuer contract.
It would have been interesting if he’d had a relationship wtih a charitable organization or church and could have put the payments through that as a deductible charitable contribution ...
How he accounts for it, could be questioned, but nowhere can I find where this illegal. Can you show examples of where this is illegal ?
I wonder if he’s married? Maybe he can marry her and the two can build it into a major company! Why not? He’s certainly looking at her with a certain steadfastness.
I love it when people at our company get ahead a little. We just did end of year bonuses and one person emailed me last night that they were buying a new car. They need one badly. Another is a single mom and needs a new place. She has been renting. I was chatting with her and she said her credit had been messed up by her ex husband. I asked her some questions and it turns out this was years back. I showed her how to check her credit score and It turns out she has very good credit. The mortgage rates are so low and the housing resales so competitive that it looks like she can buy and spend less on a house than renting. She is worried about the down payment. She is going to get some help that:)
Tis the season. Every day.....
Nice story, but its exactly these bonds between individuals and their communities that get destroyed when the Feds regulate everything.
Also, someone should find the deadbeat father and let him know what a lowlife he is.
This guy has a company with 50 employees. He has an accountant and has likely talked to him. There is nothing wrong with using a company credit card for a personal expense if the company does not deduct it and applies the costs to the income of the card holder.
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