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 […]

02.15.21

Questions and Concerns Board Members Should Consider in the Current Environment – Cybersecurity
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. This blog focuses on one area that has, and continues to be, a prime area of concern for all organizations — cybersecurity. Mishaal Khan, Cybersecurity Practice […]

02.12.21

Manufacturing Evolving from COVID-19
Joyce Carlson

As we begin to see some light at the end of the COVID-19 tunnel, many manufacturers are turning their attention to the future. While the pandemic’s effects on manufacturing will be temporary in many aspects, there is a strong possibility of long-lasting changes taking effect in the near future. In this blog, we will dive […]

02.11.21

How a Charitable Remainder Trust Can Work as a “Stretch IRA” Substitute
Peggy Vyborny

Until recently, if you named someone other than your spouse as the beneficiary of your IRA or qualified retirement plan, that person would have the option of taking distributions over his or her life expectancy. This strategy, commonly called a “stretch” IRA, offered significant advantages by allowing distributions to be spread over decades. But the […]

02.09.21

Budgeting for COVID-19 Uncertainties  
Kevin Omahen

There is always a degree of uncertainty when your organization is budgeting for the year. However, the COVID-19 pandemic has created a completely new sense of uncertainty. As revenues for many organizations have decreased in the past year and the demand for program services has not changed (or may have even increased), the budgeting process […]