06.25.21

Lawyers’ Professional Obligations in Regard to Legal Technology
Joy A. Long

For far too long, the rate of technology adoption across the legal industry has lagged far behind innovation. As datasets grow larger and litigation costs rise, it is critical for the legal profession to embrace technology and new innovations that help to safeguard client data and to facilitate better outcomes. Related Read: Get Smart: Law Firms […]

06.16.21

Sign Your Plan Document, Warns the IRS
Stephanie Zaleski-Braatz

When the IRS audits a retirement plan, it expects the plan sponsor to produce a plan document and amendments that have been signed by the relevant fiduciaries. Except under extraordinary circumstances, an unsigned plan document will not suffice. The IRS recently reiterated this position in a memorandum issued by the Office of Chief Counsel. It […]

06.14.21

So You Have Dipped Into Savings…What To Do Next With Your Retirement Account
Eileen Cozzi

Tapping an IRA, 401(k) plan or other tax-deferred accounts to pay current expenses can derail your retirement savings plan. Therefore, it should be viewed as a last resort. Unfortunately, many people reached that point in 2020 or earlier this year due to COVID-19’s financial impact. If you withdrew or plan to withdraw tax-deferred savings as […]

06.11.21

Are You Ready for Industry 4.0?
Joyce Carlson

Industry 4.0 — sometimes referred to as the fourth industrial revolution — is not new. The term was first coined nearly ten years ago. Ironically, the supply chain upheaval and explosion of remote work caused by the COVID-19 pandemic has played a part in shaping industry transformation. Here is a brief introduction to the concept […]

06.10.21

A Year of COVID Philanthropy: What It Tells Us Going Forward

The COVID-19 pandemic created an unprecedented need for funding — and grantmakers and donors stepped up. Corporations, foundations, public charities and high-net-worth individuals awarded more than $20 billion to address the social, health and economic effects of COVID-19 globally in 2020. That is just one of the findings in a new report from the Center […]

05.24.21

Your Midsize or Large Organization Might Benefit From a CFO
Segdrick P. Byrd

As a not-for-profit leader, you are used to overseeing all aspects of your organization. Truthfully, the finance department is not always the first thing not-for-profit leaders think to scale as the organization grows. You might think, at times, that having a financial expert run that side of the operation could be a plus. More often […]

05.20.21

Three Tips for Making Retirement Less Taxing
Jacqueline N. Janczewski

Recent retirees are often surprised by the size of their tax bills. As they soon learn, income taxes during retirement can be significant. However, with some tax planning before retirement, it is possible to soften the blow. Here are three tips to consider implementing. Create a Bucket List This is not the kind of bucket […]

05.19.21

Small Business (and All Other Plan Sponsors) Oversight of Retirement Plan Investments

Prudence dictates that qualified plan sponsors periodically re-examine compliance with the fiduciary obligations of their retirement plans. A major area to consider is your fiduciary responsibilities over plan investments. This is essential for all plan sponsors, and in particular, plan sponsors of small businesses that do not have the resources or the time to oversee […]

05.18.21

The Real Estate Industry Awaits a Return to Normalcy and Focuses on Tenants, not Valuations
Stephanie Zaleski-Braatz

One thing that the real estate industry has had to learn from the economic cycles of the past three decades and from crises like the savings and loan collapse is patience. On the surface, the global pandemic seems to have had a uniform impact on the global economy — the tendency is to look at […]

05.12.21

What Is the Latest on Business Meal and Entertainment Expenses?

The deductibility of business meals and entertainment for federal income tax purposes has received renewed attention in recent months. The IRS’ final regulations on the deductibility of such expenses under the Tax Cuts and Jobs Act (TCJA) and a provision in December 2020’s Consolidated Appropriations Act (CAA) change the rules of the game. Here is […]