02.19.14

For Income-Seekers, Municipal Bonds May be Worth a Look
Adam J. Pechin

Municipal bonds (often referred to as “munis”) can be attractive to income-seeking investors because they provide an income stream exempt from federal and, in certain cases, state and local income taxes. As this article explains, they traditionally have been of greatest use for upper-income taxpayers, but they are not without risks, such as vulnerability to higher interest rates and the risk that a bond issuer will not be able to repay its debts. A sidebar shows how to compare taxable and tax-free bonds.

02.18.14

Four Tips for Communicating with Associates and Staff
Adam M. Levine

Most law firm partners and key members of management have never received formal training in managing people effectively. The following tips can help partners communicate with associates and staff in positive, productive ways.

02.13.14

Starting Your Own Not-For-Profit
Alison Fetzer

So you decided that 2014 is going to be the year you finally make your dream of starting your very own not-for-profit organization a reality. Now what? Here are a few important steps to get your not-for-profit started.

02.12.14

Clinical Co-Management 101
Greg Koelling

As reimbursement is changing to reward for value and quality of care, hospitals and physicians have found themselves being incentivized to become more closely aligned. Clinical Co-Management is an arrangement to recognize and reward medical groups or physicians for these efforts. This article notes the most common method to setup co-management arrangement, along with several hurdles that must be considered.

02.11.14

Carbon Tax 101: Understanding the Potential Effects of “Cap and Trade”

Once a bipartisan idea that was passed by the U.S. House of Representatives in 2009, a carbon tax — also referred to as “cap and trade” — has been shelved since the recession took hold four years ago. An economic resurgence in the United States, however, is expected to breathe new life into the proposal, which would set the nation’s carbon dioxide emissions at specific levels and force energy-dependent industries to pay extra for exceeding their allotment. This article describes the findings of a National Association of Manufacturers report predicting that “the adverse effects of the imposition of such a tax would outweigh any benefits.”

01.30.14

Annual Reporting of Tip Income for Restaurants

Employers who operate a “large” food or beverage establishment are required to report the income of employees earned in the form of tips. Learn about the three criteria the IRS requires to define your business as a “large” food or beverage establishment and how to file for this tax season if you are.

01.29.14

Simple Tips on How to Get Your Board the Financial Information They Need

Your board brings to your organization a wide variety of talents and expertise; however, they do not always have experience with financial and accounting matters. It is up to you to get them the essential information they need to do their jobs.

01.28.14

Turn Your Timeshare into a Tax Benefit
Thomas Kosinski

Many timeshare interests permit the owner to use vacation properties for a designated period each year in exchange for a purchase cost and an annual fee. So if the personal use of the timeshare is no longer providing a benefit and the cost of utilities, repairs, maintenance and taxes are adding up each year, it may be the right time to consider how the timeshare can reduce your taxes.

01.22.14

Are You Considering Adopting a Child?
Peggy Vyborny

Adopting a child is a wonderful way to expand a family. However, the adoption process can be expensive. The good news for those who have recently adopted or attempted to adopt a child is that they may be eligible for the federal adoption tax credit, made permanent earlier this year when the American Taxpayer Relief Act of 2012 was signed into law. This brief article discusses what the credit covers, who qualifies for it and how to claim it.

01.16.14

Knowledge is Power: Competitive Intelligence Gives You a Leg Up on Your Rivals
Brandon W. Vahl

You are constantly looking to best your competition, right? And your strategy to achieve this likely involves looking internally. What can you do to improve your products and services and, ultimately, attract new customers? But does your strategy also call for looking externally? If not, it should. Gathering competitive intelligence can help provide strategic insights into your rivals’ future plans.