10.02.13

Your Estate Tax Exemption Remains Portable

Portability allows one’s estate to elect to permit the surviving spouse to use any of the decedent’s available estate tax exemption that is unused at death. The American Taxpayer Relief Act of 2012 has made the portability provision permanent. It is a simple solution and provides flexibility if the couple has not done sufficient estate planning before the first spouse dies. This article explains why portability is not always the best option for couples.

09.30.13

Managing Your Debt-Related Loan Covenants

Since the real estate market crash, commercial mortgages have been more difficult to obtain. Lenders do not want to expose themselves to the types of losses they have sustained over the last several years and therefore, have become even more critical in evaluating the credibility of potential borrowers and the types of projects they will be financing.

09.26.13

What is Your Restaurant’s Break-Even Point?

Do you know how much your sales must be in order for your restaurant to make a profit? Determining your sales break-even point is an important step to profitability.

09.23.13

What are Gifts-In-Kind and How Should I Record Them?
Sarah G. Widlock

Cash contributions are fundamental sources of revenue for your organization; however, do not underestimate the importance and value of receiving gifts-in-kind. Gifts-in-kind refer to all noncash gifts and, as with cash contributions, there are requirements for recording these types of gifts. Gifts-in-kind should be recognized if your organization has discretion in using or distributing them and if your organization is the recipient of the risks and rewards of those gifts (such as the risk of loss if they are lost, damaged or destroyed).

09.17.13

Energy-Related Tax Incentives Available for Manufacturers in 2013

The American Taxpayer Relief Act of 2012 has made significant tax savings available to businesses in the United States this year, including multiple credits for converting vehicles to natural gas power and subsidies for the use of biofuels. This article looks at these and other energy-related incentives that can help manufacturers and distributors.

09.06.13

Happy Days Are Here Again
Kenneth Tornheim

With industry data showing that the upward trend of American manufacturing output seems sustainable for the foreseeable future, manufacturers should reassess their business strategies. This article discusses renegotiating loans and leases, reinvesting in human resources and facilities, and retooling pricing, marketing and public relations.

08.29.13

The Challenges of Functional Expense Allocation

Not-for-profits are required to report expenses by the functional classifications of program services and supporting services on the financial statements because it is required by GAAP. Additionally, they are required to report expenses by the functional classifications of program services, management and general, and fundraising on Form 990 because it is required by the IRS.

08.29.13

An Opportunity Hiding in Plain Sight

Conventional wisdom holds that it’s dangerous to tie too much of your personal wealth to your employer’s fortunes. Why? Because if your company falls on hard times, any shares of company stock you own will take a hit and, to make matters worse, you could have your salary cut or lose your job.

08.23.13

Self-Rental is an Exception to the Passive Loss Rules
Thomas Kosinski

If you rent property to one of your own businesses, you may accidentally catch the eye of the IRS. Although rental real estate properties are generally treated as passive activities, the self-rental rules may recharacterize the rental income as nonpassive in some cases. That is exactly what happened to one investor who leased property to his wholly-owned S corporation.

08.12.13

Nurturing a Sustainable Institutional Identity

Many not-for-profit organizations are founded by the will and impetus of a single – and singular – motivator. Dance companies, for example, are often formed to showcase and promote the unique talents of a particular choreographer. Other not-for-profit organizations, especially in the germination stage, are often conceived, built and run by a strong and determined leader.