11.19.13

New EPA Rules May Mean Higher Fuel Costs

The Environmental Protection Agency (EPA) has moved to reduce sulfur levels in the air by increasing emissions and gasoline standards. But the American Petroleum Institute and other trade associations argue that the regulators are vastly underestimating how expensive the new rules will be for businesses and consumers, while doing little to help the environment. This short article notes the different cost estimates.

11.13.13

Handle With Care: Consider an Accountable Plan for Employee Expenses
D’Ann R. Meisenheimer

There are distinct tax advantages to having a plan for employee expense reimbursements and allowances that is “accountable” in the eyes of the IRS. But it is still a decision every practice must make for itself. This blog describes the kinds of expenses that are reimbursable and how to document them.

11.12.13

The Pitfalls of Payroll for Tipped Employees
James Pellino

All industries have their own unique challenges and quirks. For a restaurant or bar, one unique aspect is payroll. Bars and restaurants need to deal with tips and gratuities, service charges and meals to employees every time they run payroll. This is a quick crash course on what you need to know before your run your next payroll.

11.10.13

Looking Backward to Help Your Business Move Forward

Do you think it’s important to look in the rearview mirror of your car before merging onto the expressway at 65 M.P.H. (or faster)? Isn’t it smart to know who’s approaching quickly from behind and isn’t planning on changing lanes to accommodate you? It’s probably also a good idea to know how much fuel you have left before realizing the next gas station is 50 miles away. I think the obvious answer to these questions is “Yes.” But if paying attention to your gauges and what’s behind you is important in driving, then why do so many entrepreneurs choose not to pay attention to the same things as they relate to their business?

11.06.13

How to Define Business Transactions with Interested Persons
Jeffrey Chiles

The redesign of Form 990 a few years back ushered in a wave of new reporting, most of which focused on transparency, governance and recordkeeping. One of the new schedules created from the redesign was Schedule L, Transactions with Interested Persons. The purpose of this schedule was to allow the IRS and the public to gain visibility into the dealings that organizations have with those close to the organization.

11.05.13

Appellate Court Rules on Lease Obligations

One of the most vexing concerns investors have when buying real estate is whether they will end up being saddled with unexpected liabilities or obligations related to the property.  When it comes to commercial lease obligations, though, there is very little a real estate investor can do without the tenant’s consent, and the resulting costs […]

10.16.13

Who Should Be Involved in the Not-For-Profit Budget Process?
Harry Fox

With football season in full swing, the best teams are the ones that work together. A team may have the best coach, but without a good offense to contribute to the mix, they will get nowhere. A team with a great defense, but poor special teams, will also lose in the long run. In order to be successful, a team must have participation and contributions from all areas within their organization. Similarly, the best not-for-profits cannot rely solely on one area of the organization to prepare, update and review the budget. Rather, everyone must pitch in.

Three key players in the success of a not-for-profit are non-accounting personnel.

10.15.13

Big Data Strategies for Manufacturers and Distributors

“Big data” is a marketing buzzword used to describe any large set of electronic information that can be analyzed by businesses to increase efficiency. This article explains how, using these latest customer-behavior analytics applications, manufacturers and distributors can crunch their internal databases to see how their conclusions compare to those of their competitors, as well as more effectively analyze, track and predict their customers’, employees’ and inventory’s behavior.

10.06.13

Tab: Startup to Shutdown – 10 Lessons Learned

I highly recommend reading the article that I’ve linked to below.  I wish more people would write about their lessons learned after their start-up goes belly up. Failure in the start-up space is inevitable, but we may be able to help others avoid our mistakes if we take the time to write about them. Additionally, […]

10.03.13

Are You Ready for “Play or Pay” Under the Health Care Act?

Beginning on Jan. 1, 2014, the Patient Protection and Affordable Care Act requires large employers to offer comprehensive and affordable health care coverage to employees and their dependents or risk a penalty. This article discusses what a “large” employer is and the degree of coverage that’s necessary to avoid penalties.