03.29.16

Is Your Estate Plan Ready for the 21st Century?

Estate plans account for physical assets, such as real estate, art and collectibles, and vehicles. But do they cover “digital” assets such as e-mail and online bank accounts? If digital assets aren’t included in the estate plan, the deceased’s family members may have difficulty accessing them without going to court. This article explains how to include digital assets in an estate plan.

03.24.16

Collaborative Activities: Are You Reporting Them Correctly?

More and more not-for-profit organizations are joining forces to better serve their client populations and cut costs. However, such relationships can come with complicated financial reporting obligations. As this article explains, an organization’s reporting requirements will depend on the type of relationship it enters, such as a collaborative arrangement, a merger or a new legal entity, or cessation of control without creation of a new legal entity.

03.21.16

Social Media Tips for Manufacturers

Social media can be an inexpensive, but effective, way to market products and brands. However, does it work for manufacturers, especially those that do not sell directly to the public? Some trendsetting manufacturers have successfully integrated social media into their marketing campaigns to drive traffic to their websites, build brand loyalty and attract new talent. […]

03.16.16

Boosting Retirement Contributions

Tax rates for individuals are at their highest levels in years. For many business owners, finding a way to maximize retirement savings in the most tax advantageous way is a major concern, especially if they got a late start to saving for retirement. One type of retirement plan, a cash balance plan, combines features from both defined contribution and defined benefit plans. This plan allows business owners to enjoy substantial current tax deductions while at the same time boosting their retirement contributions. In addition to discussing cash balance plans, this article analyzes the differences in defined contribution and defined benefit plans.

03.15.16

Key Considerations of Going Solar
Kadir P. Sunardio

With interest in solar power soaring in recent years, savvy commercial property owners with plenty of rooftop space or other types of large open areas are determining whether to use some of that space for solar panels. Solar installations can cut operating costs, reduce taxes and even create an additional revenue stream. This article explains how solar power can also come with complex issues that require careful consideration.

03.10.16

Your Employee Handbook: It May Be Time for a Tune-up
Kelly H. Buchheit

An employee handbook sets the stage for many scenarios — from paid time off allowances, to performance reviews and termination procedures. As certain situations arise, knowing the rules can prevent surprise, confusion and resentment on both sides of the table. This article discusses the types of updates that may be required, including some recent regulatory and legislative actions and trends.

03.10.16

Medical Practice Governance: How You Can Ensure its Effectiveness

All medical practices are governed in some fashion or another, whether by an individual owner or a formal board of directors. Managing their practice can be a difficult job for physicians who are already working long hours. This article explains how to form a governing board and how to address certain issues, such as how frequently the board should meet and who should set the agenda and manage the task of taking minutes. Fortunately, a competent governance structure can help physicians meet those challenges.

03.03.16

Joint Costs: The Right Way to Allocate
Kenneth Tornheim

With so much attention these days paid to fundraising ratios, many not-for-profit organizations feel pressure to minimize their fundraising expenses. This makes allocating joint costs appealing. Joint costs are costs associated with activities that have both fundraising and other functions. However, before you take the step of allocating joint costs, be certain that you are […]

03.02.16

Retirement Plan Loans: The Pros and Cons
James Pellino

According to the Employee Benefit Research Institute, more than one-fifth (or 21%) of all 401(k) plan participants eligible for loans have loans outstanding at any given time. Looking out for the best interests of plan participants might involve discouraging them from borrowing against their savings, at least in the absence of a personal financial crisis. This blog summarizes plan loan requirements that all plan fiduciaries should know.

02.25.16

Cooking Up a Business Plan for Your Start-Up Restaurant

Last month, our Restaurant Group blog discussed the importance of determining a restaurant’s break-even point. This month, our focus turns to an integral part of a start-up restaurant’s lifeblood: its business plan. In this article, we analyze the three major components that are crucial to a restaurant’s business plan, including financial projections, investors’ analysis and a growth plan narrative.