06.30.14

Small vs. Large Plan Annual Report Filing: Get Ready to File Form 5500

Generally, all qualified retirement plans subject to ERISA must file an annual report disclosing plan compliance, financial and tax information. The plan administrator satisfies this requirement by filing Form 5500. But which version of Form 5500 and its many schedules do you file? The answer may depend on the plan’s size.

06.26.14

Does Your Child Receive Investment Income? Be Sure to Follow IRS Reporting Rules

If a child receives investment income — such as interest, dividends, capital gains and other unearned income (for example, from a trust) — he or she must report it to the IRS by filing an income tax return. This article takes a look at the “kiddie tax” and discusses whether this income should be reported on the child’s or the parent’s return.

06.24.14

Board Meetings: Time to Go Virtual?
Kelly H. Buchheit

Regularly scheduled board meetings are a necessity, but not every meeting has to be conducted in person. Virtual board meetings — ranging from conference calls to videoconferencing — can offer significant benefits for both organizations and their board members. This article describes both the advantages and disadvantages virtual meetings pose to busy board members.

06.23.14

How to Make Part-Time Partnership a Viable Option
Robert Swenson

To keep productive partners and reduce high turnover costs, firms need to offer lawyers options that allow them to enjoy a better work/life balance. One such option is a part-time partnership track. Before implementing this option, however, it is essential that management fully embraces the concept and formalizes the terms and responsibilities. This article examines how to do that.

06.11.14

Not Satisfied With the Information You Need: An Electronic Dashboard Can Help Clarify the Numbers
D’Ann R. Meisenheimer

Electronic dashboards can help practices better understand their financial standing. This article discusses how to prepare to implement a dashboard by understanding the needed features and assessing the costs.

06.11.14

Tips for Preventing Fraud in Your Organization
Charles J. Burke

Fraud does not just hurt a not-for-profit profit’s bottom line — it also could do devastating damage to its reputation. This article discusses how, by implementing some simple controls, an organization can help protect itself from these risks. These controls involve segregation of accounting duties, fraud awareness training for all employees, establishment of a fraud hotline and risk assessment.

06.10.14

New Patent Office Procedures May be of Interest to Manufacturers
Tanya Gierut

Since 2013, American inventors have faced new rules for filing and challenging patents on their products and systems. These new rules are part of the Leahy-Smith America Invents Act of 2011, a sweeping overhaul of the nation’s patent system. This article examines how many of these rules may be of interest to manufacturers.

06.09.14

New Illinois Law: Are Your Restaurant Employees Certified to Handle Food?
Brian R. Israel

Effective July 1, 2014, individuals working in the state of Illinois who handle food must receive or obtain a food handler’s certificate. The certificate is obtained after the individual passes an accredited or approved training course in basic food handling principles within 30 days of employment and every three years thereafter. This article explains what you need to know about this new state law.

06.06.14

When Valuation Does Not Matter

We enjoyed this article written by Mark MacLeod and wanted to share.  The article highlights that we must find our own growth engine:  “As soon as you find a repeatable and scalable growth engine, you can raise pretty much as much as you want on the terms that you want to mine that engine.” Read […]

06.04.14

Will Your Employees Have Enough to Retire?

While many American investors may be confident about their financial prospects, they may also be underestimating their retirement needs. Additionally, investors often admit to their lack of investment knowledge, admitting to spending more time planning home improvements and vacations or researching big purchases rather than planning for retirement. This article provides employers with suggestions for promoting financial literacy among employees.