09.06.16

Is a Nonqualified Deferred Compensation Plan Right for Your Company?

Nonqualified deferred compensation plans enable key employees to defer a higher proportion of their current income to later years when they retire. While nonqualified plans often are perceived as only for top executives, they may also be right for upper-level staff. This article discusses what plan sponsors need to know about nonqualified deferred compensation plans.

08.31.16

Charitable Contributions of Food Inventory
Robert Swenson

The rules regarding charitable donations of inventory, specifically food inventory, have fluctuated over the years. Recently a tax law was enacted that made the deduction for food inventory permanent and enhanced it. Previously non-C Corporations and taxpayers that were not required to track inventory did not receive an enhanced deduction. Now, all types of taxpayers can get a deduction of an amount somewhere between their cost basis and the fair market value of the food they are donating. This article will give you the details you need to know about charitable contributions of food inventory.

08.31.16

Combining Charitable Remainder Trusts and Life Insurance

Because the estate tax exemption currently tops $5 million, fewer people need life insurance to provide their families with the liquidity to pay estate taxes. But life insurance can still play an important part in your financial plan, particularly in conjunction with charitable remainder trusts (CRTs) and other charitable giving strategies.

08.29.16

Managing Inventory with Cycle Counting

The end of a fiscal year is an exciting time for most organizations. There is a push to collect receivables, pay vendors, evaluate accounting estimates and start planning for the next fiscal year. . It is safe to say that there is one particular component of year-end that most manufacturers dread: the inventory count! Instead of counting inventory periodically, manufacturers should explore the opportunities with adopting cycle counting, which we detail in our latest Manufacturing and Distribution Group blog.

08.25.16

Law Firm Mergers: Once the Deal Closes, the Hard Work Begins
Robert Swenson

Many law firms that merge primarily focus on getting the deal done, which means they not be prepared to integrate the two organizations. This article explains how integration planning should start early and be a team effort involving both firms and professional advisors. A transition team should evaluate both practices; determine how staff in duplicative positions can be redeployed; and document internal policies and procedures.

08.24.16

Renting Property to Your Business Could Backfire on Your Tax Liability
Adam M. Levine

If a taxpayer owns both property and a business, it just makes sense to lease the property to the business, right? Not always. This article highlights how this approach could bring on some dire tax consequences.

08.16.16

Not-for-Profits and the New Revenue Recognition Standard
Barbara Miller

A not-for-profit organization that has issued, or is a conduit bond obligor for, securities that are traded, listed or quoted on an exchange or an over-the-counter market is considered a public entity and is therefore required to adhere to a new revenue recognition standard established by the Financial Accounting Standards Board. We detail this new accounting standard in this article, as well as help you determine whether you should implement it at your organization.

08.08.16

Effective Patient Scheduling Depends on Finding the Right Fit

The less time a patient spends in the reception area or examination room, the better it is for both the medical practice and the patient. The patient is comforted knowing that the medical practice recognizes that their time is valuable, while the practice benefits by having efficient patient flow and effective utilization of staff and facilities. While patient scheduling may seem to be routine, the success of a practice’s patient flow impacts everything from the practice’s income, to the contentment of staff. This article discusses various considerations in finding a system that’s just the right fit.

08.06.16

Revenue Forecasts and the Importance of Funnel Velocity

As we may have mentioned before, we’re in the business of helping you grow! One crucial way to master your revenue forecasts is to understand your funnel velocity. I know what you’re thinking… “Say what now?!”  Put another way, you must perfect your sales funnel. In fact, some companies like Funnel Wise even suggest there […]

08.02.16

How to Leverage Your Real Estate without Getting Buried in Debt
Tanya Gierut

Leverage, which is simply using borrowed money to make an investment, allows real estate investors to afford more expensive properties than they could with just their own equity. And, unlike dividends, interest payments are tax-deductible, further reducing the cost of debt. This article shows that leveraging can be a balancing act — you don’t want to overleverage and put yourself at undue risk, but you also don’t want to underleverage and miss out on strategic investment advantages.