12.15.21

South Dakota v. Wayfair – Economic Nexus and Manufacturers’ Sales Tax Obligations
Seamus M. Donoghue

It has been more than three years since the U.S. Supreme Court’s landmark decision in South Dakota v. Wayfair. In that case, the Court held that a state may require out-of-state sellers to collect and remit sales tax even if they lack a physical presence in the state. Since then, nearly every state with a […]

12.13.21

Five Financial Strategies To Improve Your Practice’s Profitability

The COVID-19 pandemic negatively affected many physicians’ practices in 2020 — and even continued into 2021. As medical practices begin to rebound, this is an especially good time to evaluate your financial strategies to determine what is still working and what needs to be improved. Related Read: Proactively Overcoming Industry Challenges Is there room for improvement? […]

12.03.21

Are You Using Paralegals Effectively?

Sometimes, attorneys do work that can be accomplished effectively and efficiently by paralegals. This can create a culture of staff members performing tasks for which they are overqualified, which can reduce the firm’s profitability. This blog highlights some considerations to address such concerns. Related Read: How To Get Stuff Done Determine the scope of responsibility The […]

11.30.21

Do Not Let Fraud Prevention Slide
James Quaid

The ongoing pandemic has strained many not-for-profit organizations, forcing them to cut corners to survive. But fraud prevention is one critical area that organizations cannot afford to overlook. If anything, antifraud measures are more important now than ever. Vulnerabilities of not-for-profit organizations The Association of Certified Fraud Examiners’ (ACFE) recent study, Report to the Nations: […]

11.29.21

The Telehealth Tax Checklist
Jason Flahive

Your telehealth tax questions, answered Health care practices implementing telehealth often focus their efforts on the marketing, technology, security and logistics of providing health care services to their patients and occasionally overlook tax and state regulatory considerations. The very nature of telehealth, which allows for patient care delivery across state lines, requires a careful analysis […]

11.23.21

Which Plan Documents Must You Surrender if You Are Sued?

When participants believe they have been mistreated by your company’s retirement plan and take their complaints to court, be prepared for requests for plan documents. Although under ERISA you are obligated to produce relevant materials, you are not required to indulge in a document fishing expedition. A recent court case, Theriot v. Building Trades United […]

11.23.21

Foreclosure: Tax and Other Financial Implications
Ryan Kertes

Despite the record-high prices in real estate, some homeowners and landlords have experienced financial hardships due to the COVID-19 pandemic. Although the federal government and many states provided some relief — in the form of mortgage forbearance and moratoriums on foreclosures and evictions — many of these programs have ended or will soon end. As […]

11.22.21

A Look at the Roth IRA Five-Year Rule
Tanya Gierut

The Roth IRA can be an attractive retirement savings vehicle due to the benefits they offer. Contributions are nondeductible on your income tax return, but qualified withdrawals of both contributions and earnings are tax-free and there are no required minimum distributions during the owner’s life. To ensure that withdrawals are tax- and penalty-free, it is […]

11.17.21

What Entity Structure Makes Sense for a Law Practice?
Joshua Goldschmidt

Regardless of whether you are just starting your own law practice or you have a well-established law firm, entity structure is something to consider. After all, your entity choice affects when you pay tax, what tax you pay, how the tax is paid, your liability in running the firm and much more. Here are a […]

11.15.21

Three Ways To Prepare for the Next Supply Chain Disruption
Brandon W. Vahl

Before the COVID-19 pandemic, many manufacturers’ supply chain management efforts focused on reducing costs and increasing efficiency, in some cases at the expense of flexibility and resiliency. But the pandemic highlighted the vulnerability of global supply chains to disruptions caused not only by public health emergencies, but also natural disasters, political unrest, economic volatility and […]