When employees request time off under FMLA, employers need to tread carefully. The FMLA can trip you up in various ways, including how to legally document and approve eligibility for leave. Many employers particularly struggle with what information they may ask for without inadvertently violating...
Construction contractors, professional service firms, specialty manufacturers, and other companies that work on large projects often struggle with job costing. Full cost allocations are essential to gauging whether you are making money on each job. But some companies simply lump indirect job costs into overhead...
Traditional estate planning strategies generally are based on the assumption that all family members involved are U.S. citizens. However, if you or your spouse is a noncitizen, special rules apply that may require additional planning. Defining ‘residency’ & ‘domicile’ If you are a U.S. resident, but not...
Most business owners would probably agree that, when it comes to sales, there is always room for improvement. To this end, every company should strive for organic sales growth — that is, increases from existing operations unrelated to a merger or acquisition. That is not to...
According to the Center for Effective Philanthropy, practically all non-profits in the United States solicit feedback from their clients when designing programs and services. However, resource constraints — lack of adequate staffing, funding, and sophisticated technology — may mean that they do not collect data...
You may think your business has enough insurance already. But if it is vulnerable to employee theft and fraud — and most businesses are — you may want to consider adding more coverage. Some insurance companies offer policies to protect against loss of money and...
Before you jump headfirst into the year-end financial reporting process, review the role independent audit committees play in providing investors and markets with high-quality, reliable financial information. Recent Securities and Exchange Commission (SEC) statement Under SEC regulations, all public companies must have an independent audit committee or...
Late last year, Congress passed, and the President signed into law, the SECURE Act. Among its most notable rule changes are those pertaining to 401(k) plans. Here are some key highlights. New tax credit Starting in 2020, the new rules create a tax credit of up to...
It is important to review your real estate valuation program, as it is fundamental to the value of your loan portfolios. Remaining apprised of real estate value fluctuations and obtaining periodic appraisals according to the rules can keep you ahead of the game. What are the...
Virtually everyone needs an estate plan, but it is not a one-size-fits-all proposition. Even though each person’s situation is unique, general guidelines can be drawn depending on your current stage of life. The early years If you have recently embarked on a career, gotten married, or both,...