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 […]

02.24.21

A Good Business Plan Can Help Your Practice Thrive

There is a reason that physicians typically do not have an MBA. For most physicians, business is far from your primary function — healing is your business. But whether you are obtaining loans to expand your practice or simply setting up operations, generating a business plan makes sense. And with the current economic uncertainty brought […]

02.23.21

Questions and Concerns Board Members Should Consider in the Current Environment – Fiduciary Responsibilities and Investments
James Quaid

In my recent Not-For-Profit newsletter, Questions and Concerns Board Members Should Consider in the Current Environment, I shared some items and questions that not-for-profit organizations should consider in 2021. We then shared Questions and Concerns Board Members Should Consider in the Current Environment – Cybersecurity, a blog from Mishaal Khan, Cybersecurity Practice Leader and Solution […]

02.19.21

Is a Dedicated Sales Team the Answer to This Economy?
Thomas Pierce

The practice of law is almost always stressful, but current conditions make this period and the near future more anxiety-producing than ever. Law firms are balancing the COVID-19 pandemic, economic uncertainty and ongoing pressure to bring in new business. This has led some to follow the lead of other professional services and create dedicated teams […]