07.15.14

The Investment Manager: Finding the Right Fish in the Sea
James Quaid

It is a challenge for a not-for-profit organization to find the best person to make prudent investments while meeting investment goals. This article offers guidance regarding where to look for qualified candidates, what questions to ask them and how they should be compensated.

07.14.14

Proactive Estate Planning Starts Today

It is common for manufacturers and distributors to be family-owned. Unfortunately, it is also common for owners to let estate planning fall by the wayside. This can cause the owners and their family members to lose out on valuable tax-saving opportunities. This article discusses strategies that may be useful when transferring wealth and management responsibilities to the next generation.

07.01.14

When Should I Update My Leases?

With the day-to-day activity involved in property management, it is not surprising that commercial landlords often pay little attention to the terms of their long-term leases unless problems arise or renewal is on the horizon. This month’s blog looks at other circumstances that might make it advisable to review and update leases.

06.30.14

Small vs. Large Plan Annual Report Filing: Get Ready to File Form 5500

Generally, all qualified retirement plans subject to ERISA must file an annual report disclosing plan compliance, financial and tax information. The plan administrator satisfies this requirement by filing Form 5500. But which version of Form 5500 and its many schedules do you file? The answer may depend on the plan’s size.

06.26.14

Does Your Child Receive Investment Income? Be Sure to Follow IRS Reporting Rules

If a child receives investment income — such as interest, dividends, capital gains and other unearned income (for example, from a trust) — he or she must report it to the IRS by filing an income tax return. This article takes a look at the “kiddie tax” and discusses whether this income should be reported on the child’s or the parent’s return.

06.24.14

Board Meetings: Time to Go Virtual?
Kelly H. Buchheit

Regularly scheduled board meetings are a necessity, but not every meeting has to be conducted in person. Virtual board meetings — ranging from conference calls to videoconferencing — can offer significant benefits for both organizations and their board members. This article describes both the advantages and disadvantages virtual meetings pose to busy board members.

06.23.14

How to Make Part-Time Partnership a Viable Option
Robert Swenson

To keep productive partners and reduce high turnover costs, firms need to offer lawyers options that allow them to enjoy a better work/life balance. One such option is a part-time partnership track. Before implementing this option, however, it is essential that management fully embraces the concept and formalizes the terms and responsibilities. This article examines how to do that.

06.11.14

Not Satisfied With the Information You Need: An Electronic Dashboard Can Help Clarify the Numbers
D’Ann R. Meisenheimer

Electronic dashboards can help practices better understand their financial standing. This article discusses how to prepare to implement a dashboard by understanding the needed features and assessing the costs.

06.11.14

Tips for Preventing Fraud in Your Organization
Charles J. Burke

Fraud does not just hurt a not-for-profit profit’s bottom line — it also could do devastating damage to its reputation. This article discusses how, by implementing some simple controls, an organization can help protect itself from these risks. These controls involve segregation of accounting duties, fraud awareness training for all employees, establishment of a fraud hotline and risk assessment.

06.10.14

New Patent Office Procedures May be of Interest to Manufacturers
Tanya Gierut

Since 2013, American inventors have faced new rules for filing and challenging patents on their products and systems. These new rules are part of the Leahy-Smith America Invents Act of 2011, a sweeping overhaul of the nation’s patent system. This article examines how many of these rules may be of interest to manufacturers.