Articles

Keep Your Organization Running Smoothly With a Smart Strategy

In any company, making employees familiar with more than one job is critical to developing the organization and dealing with the unexpected. A sure-fire strategy for coping with unforeseen circumstances is a cross training program. Learning more than one job gives team members a look at the whole operation and keeps them motivated. It also…

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Coping with Crisis in the Nonprofit World

Is your organization prepared for a crisis that could threaten its survival? It could be anything from a devastating economic downturn, to a domestic abuse or sexual harassment scandal involving a high-ranking official, to a natural disaster that destroys your main offices. Regardless of the nature and extent of the crisis, prompt action is required….

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Tax-Saving Cash Flow Solution for Seniors with Appreciated Homes

Many older people own hugely appreciated homes but are short of cash. A side effect of large appreciation is the fact that selling the property to raise cash will trigger a gain well in excess of the federal home sale gain exclusion (up to $500,000 for joint-filing couples and up to $250,000 for unmarried individuals)….

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Consider Tax Issues When Valuing a Business for Divorce

Let’s say divorcing spouses own part of the stock in a closely held corporation. This may be one of their biggest marital assets, and often one spouse decides to buy out the other party’s shares by transferring some assets in exchange for the stock. Before jumping headfirst into these transfers, it’s important to consider the…

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Year-End Tax Planning Moves for Small Businesses

It’s hard to believe 2019 is almost over! It’s been a busy year in many sectors, often forcing small business owners to put tax planning on the back burner while they’ve tended to daily business operations. But procrastinate no longer. Consider the following moves to lower your 2019 business tax bill before ringing in the…

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A Strategic Plan Should Also Include a Succession Plan

Many small businesses prepare — and regularly update — a strategic plan, but many overlook this important task. Whether your business falls into the “have” or a “have-not” category, a strategic plan can be an invaluable resource to help your company accomplish its ultimate objectives. And part of this process involves having a succession or…

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Outsourcing: Eight Steps to Help Mitigate Risks

The outsourcing of business processes has helped numerous companies improve their financial performance, as well as increase customer satisfaction. In extreme circumstances, outsourcing can literally ensure a company’s survival. However, it can involve a number of risks. In order to determine if outsourcing makes sense for your organization, consider taking the following steps: Identify and…

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Your Provisional Billing Rates

Do you have approved provisional billing rates for your interim billing and financing on your US government contracts? The contract clause in the Federal Acquisition Regulation (FAR) 52.216-7, Allowable Cost and Payment, is included in your cost reimbursable contracts. Paragraph (e) of this clause provides that: Until final annual indirect cost rates are established for…

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Attracting Donor-Advised Funds

The popularity of donor-advised funds (DAFs) has surged in recent years, and DAFs increasingly are considered vital to the success of not-for-profit organizations. If you haven’t already, you should learn about how DAFs work so that you can position your nonprofit to benefit from these charitable-giving vehicles. How DAFs are Managed Generally, DAF accounts are…

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What States are Saying About Gender Pay Discrimination in Hiring

According to the American Bar Association (ABA) Gender-based wage discrimination remains a pernicious problem in the workplace despite enactment over 50 years ago of the Equal Pay Act (EPA), which made it illegal for employers to pay unequal wages to men and women in the same workplace who perform substantially equal work. Common explanations for…

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