12.10.15

How Risky is Your Portfolio? Using Metrics to Quantify It

It is that time of year where every investor should be reviewing how their portfolios have performed. On the surface, it seems like a straightforward exercise. However, that may not be the case, because a portfolio’s return over the short term provides little insight into whether the result was achieved through good decision making or despite it. This article examines several metrics to help you analyze a portfolio’s performance.

12.08.15

Are You Counting Your Plan Participants Correctly?

As 2015 draws to a close, plan sponsors will begin compiling data for the year-end census and ultimately, the annual reporting filing. Although counting the number of plan participants seems like it would be simple, there are common mistakes that plan sponsors sometimes make when reporting the number of plan participants. This article highlights pitfalls plan sponsors should avoid when reporting these figures.

12.08.15

Planning for Major Changes to Federal Rules on Employee Pay and Benefits
Seamus M. Donoghue

One of a company’s most dreaded tasks is probably managing HR. The rules are ever-changing and becoming increasingly complex. This article discusses two recent examples: the DOL’s proposed changes to the overtime rules and the new Form 1095-C and 1094-C reporting requirements under the ACA. The struggle to stay atop these types of regulatory changes often prompts smaller manufacturers and distributors to outsource their HR functions.

11.30.15

Dissension in the Ranks: How to Knock Out Physician Conflicts
Amanda Gutierrez

Unfortunately, not all doctors in physician practices get along. Whether they are haggling over administrative matters or a partner’s job responsibilities, the tension and disagreements can turn a normally congenial practice into a war zone. This article offers ways that doctors can learn to coexist peaceably.

11.20.15

Growing Your Board of Directors and Finding the Right Balance
Caitlin G. Gibbs

A characteristic of a strong not-for-profit organization is an active board of directors that can support the organization in many ways. Board members should be added strategically to make sure the board is well rounded and diverse enough that it can reach the best possible decisions in guiding the organization. However, attracting the right people to your not-for-profit board can be challenging. This article provides tips on how to develop a succession planning strategy at your not-for-profit organization.

11.19.15

Why Your Firm May Need a Business Manager

Most lawyers are legal experts, not business specialists, and many do not have the time or inclination to assume full-time business management and development duties. That is where a business manager can help. This article discusses the types of functions business managers can perform and provides tips on finding the right person given the scope of the position.

11.18.15

Can You Reduce Your Trust’s Income Tax Bill?
Thomas Kosinski

Trusts can accomplish a variety of estate planning goals, including wealth distribution, asset protection, estate and gift tax reduction, and probate avoidance. However, taxpayers should not overlook their income tax treatment. By reducing a trust’s income tax bill, they can preserve more wealth for their heirs. This article covers a U.S. Tax Court ruling addressing material participation in regard to passive activity loss (PAL) rules, and how the court’s decision created new tax-saving opportunities for many trusts.

11.12.15

Taking the Right Steps When Using an FLP or LLC
Adam J. Pechin

If one wishes to transfer large amounts of wealth to his or her family at discounted values for gift tax purposes, it might be advisable to form a family limited partnership (FLP) or a limited liability company (LLC). However, a pitfall to be aware of when using an FLP or LLC is the step transaction doctrine. This article explains the ins and outs of using either vehicle.

11.11.15

How to Value Donations of Goods and Services

One of the issues we frequently see when working on financial statements of our not-for-profit clients is how to place value on donations of goods and services. The accounting rules require that the value of goods and certain types of services should be recognized in an organization’s financial statements. This article provides a few tips on how you can properly assess the value of the goods and services donated to your not-for-profit organization.

11.10.15

Does Your Business Have a Valid Buy-Sell Agreement in Place?
Brandon W. Vahl

Owners of manufacturing and distribution companies are often so focused on the here and now that planning for future catastrophes may fall through the cracks, especially if the owners are young and healthy. However, operating without a valid buy-sell agreement is like driving without car insurance. Failure to execute an agreement or to update an […]