04.13.21

Family Businesses: Choosing the Right Exit Strategy  
Frank L. Washelesky

If you own a family business, it is likely one of your largest assets and it might be the most difficult to monetize. How you handle it can have a significant impact on your overall retirement and estate plans. There are a number of different exit strategies for a family business, including transferring to the […]

04.07.21

Keys to Improving Your Revenue Cycle
Kevin Omahen

Revenue cycle management (RCM) is one of the most complex medical office tasks. There are layers of steps involved in the process and roadblocks may be encountered throughout the entire process. Luckily, there are ways to apply the standard principles of professional RCM to improve your office’s ability to get paid in a timely manner. […]

03.29.21

Pooled Employer Plans: A Look at How Small Employers Can Benefit
James Pellino

Employers and retirement plan services providers have had a year to mull over their options since the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 paved the way for the launch of pooled employer plans (PEPs). For small businesses, these new plans may fundamentally change the quality of and access to retirement […]

03.25.21

Consider a Turnaround Strategy for COVID-19 Problems
Thomas Kosinski

The COVID-19 pandemic has affected many people and businesses across the country. After a year has passed, many thriving businesses are now barely breaking even while struggling businesses have been closed permanently. This can leave both property owners and landlords in financial trouble, because a loss of tenants and rent may cause buildings to fall […]

03.23.21

Value of an Estate Plan Review with a Second Marriage

Getting married for a second time can be an exciting time and a new chance at happiness. If you are planning to take another walk down the aisle, it is critical to take the time to review and revise your estate plan, especially if meaningful assets and debts are being brought into the marriage. Whether […]

03.19.21

$28.6 Billion Federal Restaurant Relief

The American Rescue Plan Act (ARPA) was signed into law on March 11. It delivers direct relief to restaurants through a $28.6 billion Restaurant Revitalization Fund (RRF). The RRF provides tax-free grants via the Small Business Administration (SBA). Related Read: The American Rescue Plan Act Has Passed: What Is in It for You? Who may apply? […]

03.16.21

Why a Cost Segregation Study is a Good Idea — Accelerate Depreciation Deductions to Reduce Taxes and Boost Cash Flow

The COVID-19 pandemic has resulted in many companies conserving cash and not buying much equipment during the past year. An unintended downside is that you may not be able to claim the same amount of depreciation tax deductions as you have in past years. What can you do? A cost segregation study may allow you […]

03.12.21

Is It a Good Time to Buy a Practice? Consider These Factors Before You Make the Leap

Even in times of economic uncertainty, there may still be opportunities for growth. While some medical practices are struggling, others are doing well and may even want to expand their operations. If you are considering acquiring a practice, you will first need to know its value. In addition, a buyer needs to take several specific […]

03.10.21

Millennial Matters: Understanding Your Younger Attorneys

Millennials — generally defined as people born between 1981 and 1996 — make up the largest segment of today’s workforce, which includes the legal industry. With Baby Boomers increasingly leaving their practices and the overall job market changing in light of the pandemic, law firms must focus on recruiting and retaining younger attorneys to ensure […]

03.02.21

FASB Issues New Rules for Reporting Gifts-In-Kind
Kelly H. Buchheit

In September 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-07, Not-for-Profit Entities (Topic 958): Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets. The intent of this new standard is to expand transparency around nonfinancial gifts received in-kind, including how those gifts are used and how those gifts are […]