Connections for Success



Is Your Business Getting the Credits It Deserves?
Seamus M. Donoghue

It is a challenging time to grow a business. So, any help you can get in the form of tax credits, tax exemptions, grants, low-cost financing and other incentives can make a big difference. Unfortunately, these incentives often go unclaimed. Why? In most cases, businesses have to ask for them — either by claiming benefits […]


Four Year-End Tax Tips for Law Firms
Manal Shalabi

The end of the tax year for calendar-year law firms is just around the corner. Now is the time to take those last-minute steps that can reap significant tax savings on your 2022 return. Here is some tax-cutting advice to consider. Time Income and Expenses Wisely Deferring revenue into the next tax year and accelerating […]


Approaching 65? Get Up to Speed on Medicare
Peggy Vyborny

Managing health insurance costs is a key component of retirement planning. Medicare eligibility generally starts at age 65. But, given the number of decisions that you will need to make about the timing and scope of coverage, it is a good idea to start preparing well in advance. Medicare is complex and navigating the many […]


The Great Regret Urges Plan Sponsors To Review Their Benefits Lineup
James Quaid

We have all heard of the “Great Resignation,” a term coined to describe the millions of employees that left their jobs since the onset of the COVID-19 pandemic in 2020. Many employees who moved on to another job are having second thoughts about their decision — a new phenomenon that is being referred to as […]


Navigating an Understaffed Workforce
Kevin Omahen

Much like everything else, there is no certainty as to how long the labor shortage will continue. That said, there are a few strategies to address this issue: Cross-Train. There are plenty of responsibilities that can be delegated to other staff. Ask your team what responsibilities they may have that they could teach someone else […]


First-Year Bonus Depreciation and Section 179 Expensing: Watch Out for the Downsides
Kathy Z. Jeziorski

Many companies are eligible for tax write-offs for certain equipment purchases and building improvements. These write-offs can do wonders for a business’s cash flow, but whether to claim them is not always an easy decision. In some cases, there are advantages to following the regular depreciation rules. So it is critical to look at the […]


Working Remotely? Watch Out for Double Taxation
Colin O’Neill

More people are working remotely these days and that trend seems unlikely to change even after the pandemic is over. Remote work can be convenient. However, it raises the risk of double taxation if employees work in different states from their employers. Here is what you need to know — and what you can do […]


Communication Is Key to Timely Client Payment
Justin L. Sylvan

How regularly do you communicate with clients? Failure to do so might cause a client to become disgruntled and slow down — or stop — payments. Being in touch with your clients regularly will help you gauge a client’s level of satisfaction with your firm’s work. And satisfied clients generally pay their bills. Related Read: How […]


Get Ready for the New Lease Accounting Standard
Kenneth Tornheim

After several postponements, the updated lease accounting standard Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) is in effect for private companies. Late last year, the Financial Accounting Standards Board (FASB) voted unanimously against another delay. That means companies that follow U.S. Generally Accepted Accounting Principles (GAAP) must adopt the new standard for fiscal years beginning […]


Not-For-Profit News
Kenneth Tornheim

Volunteer time increases to $29.95 per hour According to calculations performed by the University of Maryland’s Do Good Institute on behalf of the Independent Sector, the estimated national value of a volunteer hour has reached $29.95 per hour. The Do Good Institute, which is part of the university’s School of Public Policy, based the figure […]

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