02.13.23

Reviewing Your Revenue Cycle and Adjusting as Necessary
Kelly H. Buchheit

As a physician, the most important aspect of your practice is likely providing excellent care to your patients. But all the good patient care in the world will mean nothing if your revenue cycle collapses and you have to close down. Indeed, over time, a malfunctioning revenue cycle can drag your practice to a halt. […]

02.01.23

Despite the Potential Benefits, the Roth 401(K) Remains Underutilized
Stephanie Zaleski-Braatz

For more than a decade, plan sponsors have been able to amend their 401(k) plans to include a post-tax deferral contribution called Roth, but only about 86 percent of plan sponsors have made it available to participants, according to the Plan Sponsor Council of America. Despite the potential benefits of a Roth, only a quarter […]

01.26.23

Tips for Navigating a Tough Labor Market
Barbara Miller

Employers in all sectors are facing a tight job market. Open positions may remain empty for months, and some employees seem to have few qualms about jumping ship, due in part to changes in the work force’s expectations. But the situation does not have to be dire for savvy not-for-profits willing to adapt to the […]

01.23.23

Spouses Benefit From Social Security Too
Jacqueline N. Janczewski

If you are or were married, do not overlook spousal benefits when you estimate your Social Security income and determine when to start receiving it. Qualifying individuals can receive up to 50% of their spouse’s full retirement benefit or their own Social Security benefit, whichever is greater. Here is a quick overview of the process. […]

01.19.23

It Is Time to Analyze Your Research Expenditures
Thomas Pierce

Recent changes to the tax treatment of research expenditures are having a big impact on many manufacturers’ tax bills. The most significant change took effect in 2022 pursuant to the Tax Cuts and Jobs Act (TCJA). It requires businesses to capitalize research and experimental (R&E) expenditures under IRC Section 174 and amortize them over five […]

12.30.22

Restructuring Mortgage Debt? Watch Out for COD Income

In tough economic times, real estate owners and investors often work with their lenders to restructure mortgage debt. Lenders may be willing to reduce the interest rate, extend the repayment term or even forgive a portion of the debt. These modifications can provide welcome financial relief, but it is important to understand the tax implications. […]

12.29.22

Teaching Your Kids the Basics of Money Management
Justin L. Sylvan

Kids are never too young to learn about money and how to manage it responsibly. This blog advocates customizing money messages to children’s ages and interests and will give you some suggestions for teaching young children, grade schoolers, tweens and adolescents about managing money. For example, four-year-olds usually can understand the difference between needs and […]

12.27.22

Still Waiting for Your Employee Retention Credit Refund? You Are Not Alone
Thomas Pierce

For restaurants that have struggled during the COVID-19 pandemic, the employee retention credit (ERC) can be a welcome source of relief. Unfortunately, IRS processing delays have forced many restaurants to wait a long time before receiving their ERC refunds, in some cases more than one year. The longest wait times have been for retroactive ERC […]

12.22.22

Don’t Forget About the Illinois Secure Choice Savings Program Act
Joshua Goldschmidt

The Illinois Secure Choice Savings Program Act requires certain employers within Illinois to either participate in the state-run retirement plan or to offer employees a different qualified employer-sponsored retirement plan. The amended law now requires many small businesses with as few as 5 employees to comply by November 2023. The purpose of the program is […]

12.21.22

Ask These Questions Before Your Healthcare Organization Pursues a Merger or Acquisition
Jason Flahive

Your guide to making sure that your transaction decisions are what is best for your company Mergers and acquisitions (M&A) remain a key growth strategy in the health care sector for 2022 and beyond. With high valuations and uncertainty around future market trends, it is important that healthcare organizations carefully consider if an M&A deal […]