Category: Business Practices
TEN RECOMMENDATIONS FOR SUCCESSFUL VALUE CHAIN MANAGEMENT
Widen the focus from traditional supply chain analysis to encompass the demand chain to the same extent. Do the legwork to identify who is essential to the chain’s success and how they operate. Who adds value and where, Review data...
Special Guest Author Victor Hicks: A checklist for plan sponsors to ensure 401(k) plan compliance and optimization
By: Victor H. Hicks II, CFP®, AIF® Owner, Managing Principal, Lumin Financial, LLC An Independent Registered Investment Adviser [email protected] Once a retirement savings plan has been approved and is in place, it’s tempting to sit back and adopt an “I’m...
Tips for Safeguarding Tax Records Against Natural Disaster
Here in Michigan we are midway through tornado season, but disaster can strike no matter the time of year, so the IRS is reminding individuals and businesses to safeguard their records. Taxpayers should keep a set of backup records in...
Going Cruisin’? How to handle the tax liability of a company-paid cruise or vacation.
Sponsored cruise trips and other paid vacations under the guise of conventions or meetings have become the ultimate sort of employee perk or sales tool for companies with deep pockets. But for the recipient (and in some cases, their spouse),...
Four Tips for Managing Remote Workers
The greatest challenge in managing a remote work force is communicating with those off-site workers according to a new Robert Half Technology survey, which asked more than 2,300 chief information officers (CIOs) about the difficulties they face in managing a...
Take Section 179 expense in certain cases when purchasing equipment
Section 179 allows a business to immediately expense the full cost of equipment in the year of purchase, rather than capitalizing and depreciating the asset over its useful life. This means that more tax benefit will be recognized in the...
Private Company Accounting is Getting Simplified
After decades of attempts and debates on how to address private company financial statement issues and concerns (some of you may remember the “Baby - GAAP”, “Big GAAP-Little GAAP” terminology) we are now seeing the issuance of U.S. Generally Accepted...
Guest Author Jennifer Oertel: Is the L3C Right for Your Social Enterprise?
By Jennifer Oertel, Partner Not For Profit Team Leader Jaffe Raitt Heuer & Weiss P.C. L3Cs were designed to encourage private foundations to pursue their missions through investments in social enterprises. Private foundations are subject to many restrictions, including that...
Five ways you can protect against employee fraud
Organizations lose an estimated 5 percent of their annual revenues to fraud, and the Association of Certified Fraud Examiners is offering some basic tips to help any organization prevent and detect fraud: 1. Be proactive. Establish and maintain internal controls...
Medical office managers must protect against healthcare data theft
Large retailers like Target and Nordstorm have been recent victims of client data theft. It's a good warning bell for companies of all stripes to examine their data protection policies. Of particular concern--private healthcare information that is held by the...