Roth 401(k) accounts have been around for quite a while, but many employers still do not offer them, and many employees still do not understand them. As the name implies, these plans are a hybrid — taking some characteristics from Roth Individual Retirement Accounts (IRAs)...
The commerciality doctrine was created along with the operational test to address concerns over non-profits competing at an unfair tax advantage with for-profit businesses. But even business activities related to your exempt purpose could fall prey to the commerciality doctrine, resulting in the potential loss...
As the year winds down, business owners can be thankful for the gift of perspective (among other things, we hope). Assuming you created a budget for the calendar year, you should now be able to accurately assess that budget by comparing its estimates to actual...
Will you be age 50 or older on December 31? Are you still working? Are you already contributing to your 401(k) plan or Savings Incentive Match Plan for Employees (SIMPLE) up to the regular annual limit? If so, then you may want to make ‘catch-up’...
Non-profits typically receive most of their donations during the holidays and at year end. It is critical for these organizations to be on the lookout for fraud throughout the year but even more so during the busy season. Here are some fraud schemes non-profits should...
For many companies, revenue is one of the largest financial statement accounts. It also is highly susceptible to financial misstatement. When it comes to revenue, auditors customarily watch for fictitious transactions and premature recognition ploys. Here is a look at some examples of critical issues that...
Many years ago, ‘performance management’ was a supervisor giving orders to an employee and the employee trying to follow them. However, as the workplace has evolved and employers have sought to get a greater return on investment in human resources, the concept of performance management...
A strong economy leads some company owners to cut back on marketing. Why spend the money if business is so good? Others see it differently — a robust economy means more sales opportunities, so pouring dollars into marketing is the way to go. The right approach...
Done well, delegation allows non-profit executives to focus on their most important tasks, helps to build bench strength, and gets staffers out of the office before midnight. But done poorly, it can create more burdens than it eases. Here are five practices all non-profit leaders...
As we approach the end of 2018, it is a good idea to review the mutual fund holdings in your taxable accounts and take steps to avoid potential tax traps. Here are some tips. Avoid surprise capital gains Unlike with stocks, you cannot avoid capital gains on...