10.07.20

Cost-Cutting for Sustainability: Three Areas to Target

U.S. law firms of all sizes and practice areas have had their financial foundations shaken as a result of the COVID-19 crisis. Firms that were flying high less than a year ago now find themselves scrambling to survive the economic fallout. One obvious place to begin is cost-cutting. Several other areas make likely candidates. Staffing […]

09.30.20

Budget Planning: Three Things to Ask Before Building Next Year’s Budget
Chris Arndt

It is budget-planning time. After a year that may very well have derailed your budget, and despite how begrudgingly you might enter this process, now is the time to plan next year’s budget. Digging deeper into the essential questions from budgeting and forecasting for high-growth companies is a great place to start. Related Read: Five […]

09.29.20

Six Ways to Motivate Your Employees

In this time of national emergency due to the Covid-19 pandemic, your staff is almost certainly under more stress than normal. This is a very important time to work cooperatively with your employees, listening to and taking seriously their fears and concerns. Conditions will eventually return to normal and employees will likely remember how you […]

09.24.20

An Estate Plan Benefits You and Your Family
Jeffrey R. Green

Quick question: Who needs an estate plan? The answer is everyone, not just the affluent. While gift and estate tax liability is not an issue for most folks, most families can benefit from a comprehensive plan that divides their wealth, protects their well-being and provides a compass for the future. Asset distribution Estate planning is […]

09.22.20

Is Remote Selling the New Normal? Tips to Make the Most of Your Sales Program
Joyce Carlson

The COVID-19 pandemic impacted the way people interact and do business. Many of the changes that have been made to adapt to a social-distancing environment within the digital landscape will likely become permanent and evolve over time. Though pre-COVID-19 digital trends were already surfacing as a basis for contemporary selling, many experts agree that the […]

09.16.20

Classifying Workers as Employees or Independent Contractors: When Bringing Back Workers, Follow the Rules
Jeffrey Chiles

Part of your not-for-profit organization’s entrance into the “new normal” not-for-profit world may involve rehiring workers — and perhaps hiring some new replacements. For tax obligation purposes, you will be required to classify those workers as employees or independent contractors (ICs). Sizing up Independent Contractor benefits Treating a worker as an independent contractor (IC) rather […]

09.15.20

How to Handle Laid-Off Employees’ 401(k) Accounts Still in Your Plan
Stephanie Zaleski-Braatz

As employee headcount grows, some turnover now and then usually does not create many concerns about “orphan” 401(k) accounts.  However, employers forced to downsize during the economic downturn brought on by the COVID-19 pandemic might have a larger proportion of accounts left behind by former employees. This could be a problem, but there are some […]

09.09.20

Three Steps to Create a Growth Culture: Involving Employees in Your Financial Success
Chris Arndt

To create a growth culture, involve employees in your financial success. It is not a new concept; however, for some business owners who want to create a culture of growth, it is not always obvious how to make it happen. We do not mean foosball tables and microbrews on tap; we mean big picture growth. […]

09.04.20

Can Our Public School Hold “Virtual” School Board Meetings During the Pandemic?
Mike Sullivan, Meredith Kirshenbaum

As public schools in Illinois are busy redesigning their curriculums for the fall, “COVID-19” continues to interrupt not only classrooms, but also other essential educational operations.  On March 9, 2020, in response to the COVID-19 pandemic, Governor Pritzker declared all Illinois counties a “disaster area” and subsequently issued a series of executive orders designed to […]

09.03.20

Do Not Put Payroll Management on Autopilot
Robert Swenson

The COVID-19 pandemic has thrown the economy for a loop. Many law firms have had to trim expenses and furlough employees. Laying off or decreasing pay for support staff, associates and partners can add payroll tasks to your workload. If your firm is reducing people on the payroll or outsourcing work to independent contractors, there […]