11.11.14

Cash Balance Plans a Bright Spot in Dreary Defined Benefit Landscape

Cash balance plans — a hybrid defined benefit pension design — had been on a plateau until just a few years ago. This blog discusses why there has been this increase in growth and provides a refresher on cash balance plans.

11.11.14

Don’t Let Food Costs Eat Your Bottom Line

A key to success for any restaurant is to verify that its food costs are in order. Since the cost of food can easily comprise a third or more of your total costs, it directly impacts the profitability of your establishment.

11.04.14

When is Income Taxable?
Kenneth Tornheim

A 501(c)(3) organization generally is required to pay tax on income that is not related to its exempt purpose — even if that income is critical to the financial support of the organization. This unrelated business income (UBI) is something to watch closely, because if the not-for-profit is ever audited, the IRS will likely scrutinize its records to see whether it has accurately reported UBI. This blog describes the kinds of activities that generate UBI, along with some exceptions.

10.29.14

The Pros and Cons of Leaving Insurers’ Provider Panels

More and more physicians are examining whether they should remain on an insurance company’s provider panel. They are opting instead to become out-of-network providers for the same insurer, which can help avoid billing and payment headaches that come with health plan relationships, and may lead to higher reimbursement rates. But, as this blog explains, there are risks to consider as well.

10.28.14

How Liable are You for Fraudulent Credit Card Charges?
Adam J. Pechin

The theft of millions of customers’ credit and debit card data last holiday season was a wake-up call for consumers who underestimated their vulnerability to fraud. This blog explains the laws that help limit individuals’ liability from unauthorized charges.

10.27.14

Distinguishing Between Investors and Dealers in Real Estate
Thomas Kosinski

One who deals with real estate transactions on a regular basis may wonder why it is necessary to make the distinction between an “investor” and a “dealer.” This blog discusses why that distinction is key in the eyes of the IRS and explains how the IRS distinguishes.

10.22.14

Look Before Determining Executive Compensation
Kelly H. Buchheit

When a not-for-profit sets the salary for an executive director or other key individual within the organization, the board of directors wants to make sure it is paying what is necessary to attract or retain the most qualified, capable individual for the position. This blog explains the steps that charitable organizations should take to be sure that compensation is “reasonable” in accordance with IRS standards.

10.21.14

How Lawyers Should Deduct Unreimbursed Business Expenses

The rules for deducting unreimbursed business expenses are complicated enough that it may be tempting to forgo the process altogether. But attorneys who neglect to take such deductions on their federal tax returns are likely leaving money on the table.

10.15.14

Keys to a Profitable Restaurant

The primary goal of a restaurant is similar to any other business: Profitability. In today’s competitive market of countless restaurant options for consumers, restaurant owners are always looking for opportunities to increase revenues and profitability so that their business may both thrive and survive. This blog highlights a few key ways a restaurant can achieve that success.

10.14.14

Leading Lean Means Walking the Walk

The road to excellence in lean manufacturing can be never-ending, but excelling in lean leadership can make it less bumpy. Implementing lean principles can improve quality, timeliness, capacity, customer satisfaction and overall profits to the company. This blog explores the value and importance of lean leadership.