To maintain their lifestyles in retirement, many top execs would like to set aside more dollars annually than is allowed under a qualified plan, such as a 401(k). One way an employer can help them do so is by setting up a nonqualified deferred compensation...
Among the trigger events of a small company buy-sell agreement, death of a co-owner typically is included. Example one: Wendy Young and Victor Thomas both own 50 percent of YT Corp (YT). They have a buy-sell, which calls for Wendy to buy Victor’s interest in YT...
Insurance is the cornerstone of any non-profit’s comprehensive risk management plan. It cannot protect your organization from every contingency, but it is critical to protecting the people, property, funds, and support you depend on. Must-have policies Many kinds of insurance coverage are available, but it is unlikely...
Like many business owners, you probably created a business plan when you launched your company. But, as is also often the case, you may not have looked at it much since then. Now that fall has arrived and year end is coming soon, why not...
For investors, fall is a good time to review year-to-date gains and losses. Not only can it help you assess your financial health, but it also can help you determine whether to buy or sell investments before year end to save taxes. This year, you...
Most types of life insurance policies reported flat to negative growth rates, year over year, in the first quarter of 2018. However, annualized premiums rose by 10% for variable universal life, which can offer stock market participation and premium flexibility. Close behind (up 8%) were...
Because most physicians have no background in business management or accounting, medical practices can be easy targets for occupational fraud. But at a time when reimbursement rates are being squeezed, the last thing your practice needs is employee theft. Here are the risks and how...
Small businesses often use the cash-basis method of accounting. As businesses grow, they usually convert to accrual-basis reporting for federal tax purposes and to conform with U.S. Generally Accepted Accounting Principles (GAAP). Starting this tax year, the Tax Cuts and Jobs Act (TCJA) has increased the...
A shortage of skilled workers is a real concern in some of the nation’s largest industries. If you fear your business could find itself struggling to fill positions, one way to lay the groundwork for a solution is to create an apprenticeship program. Apprenticeships are paid...
Many people think of life insurance as a product for family protection. The life of one or two breadwinners is insured; in case of an untimely death, the insurance payout can help with raising children and maintaining the current lifestyle. Once the children are able to...