Businesses cannot eliminate risk, but they can manage it to maximize the entity’s economic return. A new framework aims to help business owners and managers more effectively integrate enterprise risk management (ERM) practices into their overall business strategies. Five-part approach On September 6, the Committee of Sponsoring...
Many people prize tax deductions. The promise of a deduction can affect decisions in many areas, including charitable contributions, home buying, and investing in rental property. However, tax deductions offer only partial relief because they reduce income, not the tax bill. The higher your income and...
Are you the founder of your company? If so, congratulations — you have created something truly amazing! It also is more than understandable you want to protect your legacy: the company you created. However, as time goes on, it becomes increasingly important that you give serious...
Income from endowment funds may be able to help your non-profit meet operating expenses, ease cash-flow problems, and supplement next year’s annual budget. However, you need to pay attention to several factors, including investment performance, inflation, operational changes, and (the only factor you can truly...
One important step to both reducing taxes and saving for retirement is to contribute to a tax-advantaged retirement plan. If your employer offers a 401(k) plan, contributing to that is likely your best first step. If you are not already contributing the maximum allowed, consider increasing...
Employees spend a median of two hours per week dealing with personal financial matters while at work. Millennials (age 18–34) spend an average of four hours per week, those in Generation X (age 35–50) average two hours per week, and Baby Boomers (age 51–69) average...
According to the Association of Certified Fraud Examiners (ACFE), tips — particularly those made through anonymous hotlines — are the most effective method of uncovering occupational fraud. While the mere existence of a hotline can prompt second thoughts in employees tempted to commit fraud, it...
The Financial Accounting Standards Board (FASB) recently issued targeted improvements to its guidance that could encourage more companies to engage in hedging arrangements to decrease volatility in their financial statements. Here is a close-up on how businesses can hedge price fluctuations and why businesses and...
The Affordable Care Act allows small employers to make health coverage available to their employees through the Small Business Health Options Program (SHOP). Many of these organizations may wonder whether there are limits on when they can sign up for this coverage. The short answer is...
Many people prefer to have some conservative holdings in their individual retirement accountants (IRA) and other retirement accounts. This century has already produced two nasty bear markets (in 2000–2002 and 2007–2009). If a third downturn occurs, investors will be glad they held some defensive positions,...