Articles

Why Is the Valuation Date so Important?

When one considers how the value of an asset will be determined, it’s common to think about which method the appraiser will use or whether discounts may apply. A critical factor that might not immediately come to mind is the appraisal date. This article explains why the “as-of” date matters and how the purpose of…

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The Questions Surrounding Social Security Seem to Never End

Members of the Baby Boomer generation continue to join the retirement ranks. As they arrive, or get close to their mid-sixties, they have many questions: How does the future of the system look? How are benefits affecting personal circumstances, such as divorce, remarriage or the availability of private pensions? Here are the answers to these…

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New Tax Law Provides 10 Key Breaks for Individual Taxpayers

A recent spending package signed into law by President Trump on December 20 retroactively resurrects and/or extends several key tax breaks through 2020. It also provides tax relief for victims of federally declared disasters. Here are ten breaks that can benefit eligible individuals. Reduced Threshold for Medical Expense Deductions The Tax Cuts and Jobs Act…

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More to Business Valuation Than Meets the Eye

Valuing a business requires more than merely dropping numbers into a “black box” and waiting for the answer to be spit out. Using their professional judgment and specialized training, appraisers consider a broad range of internal and external factors before arriving at reliable conclusions of value. Most business owners and attorneys know the basics of the…

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Reviewing Tax Planning Strategies

With marginal federal tax rates of up to 37% in 2020, income taxes can have a significant effect on your financial situation. Continue reading for three strategies that may help reduce your income tax bill involving capital gains, postponing income and shifting the burden to another individual. Reduce or eliminate taxes. The objective is to receive income…

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How to Manage Your High-Deductible Health Insurance Plan

High-deductible health plans can leave you with painfully expensive out-of-pocket costs. But that’s not always the case. With the right handling, these plans bring advantages that you might not expect. If you’re willing to do some smart planning and research, financial remedies are available. Here’s your prescription for savings. If you currently have a high-deductible…

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To Compensate or Not to Compensate Nonprofit Board Members

Many nonprofit directors serve on boards for altruistic reasons. But it can be a huge commitment and the issue of compensation often comes up. Compensating nonprofit board members is rare. One survey suggested that just 2% of organizations pay their directors. Another study found that 96% of nonprofit boards are voluntary. Survey results and anecdotal…

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Cash Management Increases Your Organization’s Chance of Success

If you want your organization to grow and remain competitive, a solid financial plan and a well-conceived strategy can mean the difference between boom and bust. The obvious place to start is with a cash-flow analysis. Review your company’s cash flow statements to understand the cycle of inflows and outflows that stem from accounts receivables,…

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Write Clear, Up-to-Date Instructions for Policies and Procedures

Well-documented written policies and procedures are a critical element of maintaining your organization’s ability to continue winning government contracts. Several contract clauses require procedural documents for internal control systems related to such activities as making estimates and purchases. In addition, contractors must have policies, procedures, operating instructions and other control information available to help ensure…

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Steps for Preventing Employee Fraud in Your Organization

If your organization becomes a victim of internal fraud, it won’t just hurt the bottom line — the incident also could do devastating damage to your reputation. By implementing some simple controls, though, your organization can help protect itself from these risks. Segregate Duties One of the most important preventive measures is the segregation of…

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