If your organization sponsors a 401(k) plan, you may have more flexibility than you think when it comes to setting eligibility rules for participants. Granted, the Employee Retirement Income Security Act of 1974 (ERISA) sets many rules for enrollment, but plan sponsors still have plenty...
Labor Day is a good time to focus on how your business pays employees. Payroll reporting does not have to be a laborious process. Consider using an outside company to manage your payroll function. Here is why payroll outsourcing may be beneficial and how a...
From the baseball field to the boardroom, statistical analysis has changed various industries nationwide. With proper preparation and guidance, business owners can have at their fingertips a wealth of stats-based insight into how their companies are performing — far beyond the bottom line on an...
Annual financial statements that have been audited by a professional auditor can help assure funders and lenders that your non-profit is financially sound. Here are three critical audit issues to understand when preparing financial statements: 1. The auditor’s role Auditors are responsible for expressing an opinion...
If your company does not have a retirement plan, or if you are not pleased with the one you have, this summary can help you see how these choices stack up. Safe harbor 401(k)s As 401(k) plans have gained popularity, many employees or prospective employees expect to...
At back-to-school time, much of the focus is on the students returning to the classroom and on their parents buying them school supplies, backpacks, clothes, etc., for the new school year. We cannot forget, however, about the teachers. It is common for teachers to pay...
Con artists with an affinity for big swindles often find the best pickings among members of their own demographic groups. Exploiting connections of race, religion, ethnicity, age, politics, profession, or other common bonds, some fraud perpetrators prey on the unwary in scams that can involve...
Most companies prepare financial statements on a monthly or quarterly basis. Unfortunately, it usually takes between two and six weeks for management to finalize reports that comply with U.S. Generally Accepted Accounting Principles (GAAP). The process takes even longer if an outside accountant reviews or...
Savvy employers do not view training as an unavoidable cost of doing business. They view it as a strategic investment that is critical to developing the organization’s intellectual capital. Once you have committed to developing a high-performance workforce, it is important to systematically develop and...
Investment fraud, such as Ponzi schemes, can cause significant financial losses for non-profits, but the harm it can cause an organization’s reputation with donors and the public may be even worse. Non-profits are required to disclose on their IRS Forms 990 whether they have experienced...