04.05.23

Is It Time to Write a Gift Acceptance Policy?
Alison Fetzer

In the current economy, many not-for-profit organizations are looking for new and different ways to engage donors and solicit contributions.  Some people believe that anything is better than nothing when it comes to gifts, but that is not always true.  Not all gifts should be accepted, and saying no is okay.  Navigating what an organization […]

03.30.23

How Rolling Forecasts Can Provide More Clarity
Joyce Carlson

Some of the greatest economic concerns brought on by the pandemic have been financial instabilities and volatility.  These pressing issues have forced a stark lesson in pre-planning and have put the spotlight on the weaknesses of traditional budgeting and forecasting methods. In this new unstable environment, annual budgets quickly become cumbersome to prepare. Sudden economic […]

03.28.23

How will SECURE 2.0 Affect Your Retirement Plan Administration?

Late last year, the House and Senate approved the revision to the SECURE Act of 2019, and the President signed it into law on December 23, 2022. This revision had been in process for some time, and Secure 2.0 sought to bring changes and updates to the original SECURE Act, affecting qualified retirement plans and […]

03.07.23

401(K) Plan Early Access: How to Avoid Penalties
Jeffrey R. Green

If you have money in a traditional employer-sponsored retirement plan, such as a 401(k) or 403(b), you are probably aware that withdrawals before age 59½ generally are not advised. Early withdrawals are allowed under certain circumstances, but in most cases they are subject to a 10% penalty — on top of ordinary income taxes. However, […]

02.28.23

Pass-Through Entity Taxes: How Law Firms Can Manage the SALT Deduction Limit

Many high-income taxpayers were negatively impacted when the Tax Cuts and Jobs Act of 2017 (TCJA) imposed a $10,000 limit on the individual federal income tax deduction for state and local taxes (SALT). This $10,000 limit is often referred to as the “SALT cap.” In response, over two dozen states and one locality, New York […]

02.21.23

Managing the Rising Cost of Labor
Brian R. Israel

Of the many challenges facing the restaurant industry today, the rising cost of labor is one of the most formidable. According to the U.S. Bureau of Labor Statistics, average hourly earnings in food and drinking establishments jumped from $15 in 2018 to $19.42 in 2022. Factors contributing to this trend include the ongoing labor shortage […]

02.17.23

Growing Cybersecurity Vulnerability in Real Estate and Construction Industries

In the last few years, real estate and construction leaders have made great strides to implement modern technologies into their regular practices. While these advances have uncovered additional efficiencies in the chain supply, performance, progress, logistics and safety, their adoption has created a critical vulnerability: Data security. Different studies confirmed that more that 75% of […]

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 […]