This week, I am tooling around the upper Midwest with my family, where I am collecting future newsletter anecdotes. I tried Elvis’ favorite rollercoaster, the Zippin Pippin. Elvis’ derring-do was confined to scandalizing the parents of 1950s teenagers, because, in the words of my Gen Alpha posse, “That ride was…mid.”

I’m keeping this week’s newsletter to just the facts. If you haven’t yet evaluated July 1 compliance changes or retirement plan requirements, it’s a good week to finish that housekeeping.

And as always, check your pipeline. I’ve noticed that many of my clients are behind plan and the conversations aren’t flowing naturally. You might be feeling stuck. So is almost everyone else. When we’re stuck and don’t know what to say, we worry about wasting others’ time with our work in progress thinking. But, when you’re stuck, I bet you appreciate being offered a sympathetic ear. We’re all processing a lot of change. Be that sympathetic ear. Talk about problems that don’t yet have solutions. 

If things are slow, pick 3-5 people to reconnect with this week. It doesn’t have to be elaborate. “I was thinking of you and wanted to reach out.” That’s it. That’s the email. Short-term sales don’t come from a flashy landing page or more funnel steps. Show up for people you already know.

July continues to be the new January. Check out these state and local compliance changes:

• Minimum wage / minimum salary increases in Alaska and Oregon, plus specific cities and categories in California

• Expanded paid family leave 

• Mandatory retirement savings programs 

Mandatory retirement requirements may be new to you. A growing number of states are offering their own alternatives to 401k plans, allowing employees to save beyond a personal IRA. In 2025, California requires all companies with at least one part-time, non-owner employee to enroll or provide their own plan. (If you’re an owner-only S-corp, proactively opt out by contacting Client Services at 855-650-6918.) You can see the status of mandatory retirement in all 50 states via this interactive map from VestWell. 

If you’d like to consider a 401k program, I like and use Guideline, VestWell, and Betterment as integrated providers through Gusto, our preferred payroll system. If you’d like a referral to one of these retirement plans, please hit reply and we’ll put you in contact with our representatives. All three are offering new plan setup incentives right now, and offer Safe Harbor plans for those of you who want to max out your savings but have employees.  

And if you’re right at the beginning of all of this, check out my 2025 guide to all of your business retirement plan options, including solopreneurs.

On Monday night, the Senate released a working version of its tax bill. Business tax cuts have sailed through, but the SALT tax cap is under consideration at a lower level. And while some Medicare funding was restored, Medicaid and related ACA subsidies have additional cuts. 

In the big picture, absent major changes, the nonpartisan Congressional Budget Office (CBO) says this bill adds even more to the federal debt over five years than the House bill, as much as $5 trillion. 

And this bill still leaves lower net income for low-income households, while rewarding the top 5% of income earners.

Senate leaders are aiming for a first vote next week and completion by July 4. That currently seems ambitious, but continue to monitor the debate and contact your representatives.

Less is more: It might not seem like there’s much to learn from a billion dollar celebrity brand exit, or a hot chicken chain sold to private equity. But the recent sales of Rhode and Dave’s Hot Chicken have something in common: as they grew, they kept their product sets small. Rhode offers skincare and a few lip and cheek colors, a total of ten products at their exit. Dave’s Hot Chicken has seven menu items. Neither brand chased every opportunity. Current product brands are thriving on hero products and limited SKUs. If you’re feeling stretched, consider this your permission to do less.  

Summer morning reset: These summer months can feel chaotic -- changing camp dropoff times and travel weeks can lead to working whenever you can and grabbing a coffee as breakfast. Maybe this shakeup is an opportunity to upgrade your morning habits? Real Simple offers a roundup of morning habits that hurt your overall health, including skipping breakfast and grabbing your phone before your feet hit the floor. The irony of this item: after I abused the snooze button, I found this article during my morning scroll. Progress over perfection.

Skibidi rizz Ohio: In preparation for this trip, I studied up on Gen Alpha slang. This "translated for the Olds” speech by a linguistics professor was both helpful and entertaining. With apologies to my local readers, my nephew wants to assure you, after driving across the state, Ohio has no rizz. Sorry, Ohio.