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June 2019

Annual Report Dates

State Holiday Closings

Compliance Updates


Senate Bill 28 was signed by the governor on March 27th. It defines when a corporation is doing business or exercising a corporate franchise in the state for income tax purposes and makes technical changes. This bill has retrospective operation for a taxable year beginning on or after January 1, 2019. Click here to learn more.


Effective May 1, 2019, Senate Bill 1309 (Chapter 594) amends where assumed or fictitious names are filed in the state of Virginia. Click here to learn more.

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In an article by Joe Robinson, called The Link Between Vacations, Productivity, and Work-Life Balance, vacations are hailed as an absolute necessity to work productivity.

The author cites various studies about employee engagement and productivity, stating that both are strongly linked to taking time away from work. It’s called “work recovery” in scientific journals and one of the best ways to accomplish this replenishment of the brain is through vacations.

Robinson states, “It’s a basic law of effort: Quality output requires quality input.” He explains: "Humans are energy machines. We expend energy over the course of the workday and work year in our body and brains, and then we have to replace it, or fatigue sets in, stress and exhaustion build, and productivity plummets." Vacations are one of the ways to get this needed replenishment for the brain.

When employees are engaged, they are 28% more productive according to Gallup data.  They also willingly put out extra effort, called “discretionary effort,” meaning they are so committed to doing a good job, that they do extra willingly and with excitement. Unfortunately, due to our culture’s “workism,” employees are taking less time off, less vacations, and experiencing burnout.

Studies have shown that the key dimensions of engagement are involvement, efficacy, and energy. The opposite of engagement is exhaustion. Engagement takes energy, which can't happen when someone is exhausted or burned out. Gallup found that only 29% of American workers are engaged. That means businesses leaves more than $300 billion on the table in lost discretionary effort.

It’s our workplace culture to work nonstop.  Exhaustion and lack of engagement is inevitable.   

Companies like Evernote, Hubspot, and Go Daddy are trying to change that by offering unlimited vacations and rewards for taking vacations. They recognize the many benefits of keeping their employees rested, functioning on all levels, willing to go the extra mile, and engaged. Robinson states, “It’s not how maxed-out your gray matter is that leads to productive results. It’s how fresh your brain is. A focused, energized brain gets the most work done the fastest.”

As we think about our vacation time and how difficult it is to carve out time to take one this year, we need to keep this in mind. Vacations are an excellent recovery strategy and way to maintain work-life balance.

To read this entire article, click here.


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