Know Your Hiring Costs
At some point, all business decisions come down to dollars and cents. How much is it going to cost to implement a particular program and what’s the potential value to your company? In many cases, the costs are pretty straightforward, such as when you buy a new computer or launch an ad campaign. But when…
Billing Requirements in Federal Contracts: Are You Compliant?
Are you compliant with your billing requirements under your U.S. government cost-reimbursable contracts? Federal Acquisition Regulations (FARs) provide for inclusion of the contract clause in FAR 52.216-7, entitled Allowable Cost and Payment, in cost-reimbursement contracts. This clause provides for the government to make payments to you when requested as the work progresses. How Often Can…
Idea: Roth IRAs as an Estate Planning Tool
Roth IRAs are a great tax saving tool. The reason: Investments held in a Roth IRA are allowed to build up federal-income-tax-free. Later on, you can take federal-income-tax-free withdrawals. Obviously, a zero tax rate is the best rate going. In addition to being great tax saving tools for retirement, Roth IRAs also provide tremendous estate…
Records Retention Guidelines to Remember During Spring Cleaning
Warm weather and rainy days bring the urge to purge. But before you clean your file cabinets or declutter your computer files, it’s important to review these guidelines. Federal Tax Records Most tax advisors recommend that you retain copies of your finished tax returns indefinitely to prove that you actually filed. Even if you don’t…
The Market Approach: A Touchstone in Valuation
The market approach, whereby appraisers use comparable “guideline companies” to help them estimate the value of a private business, has become a long-standing valuation touchstone. Two primary valuation methods are categorized under the market approach: Guideline public company method. Here, appraisers identify companies with stock (or partnership interests) that are actively traded in the public…
Timekeeping Is a High Risk Area
Timekeeping Is a High Risk Area For most contractors, direct labor costs are usually the most significant expense charged to government contracts and usually make up the base, or largest, element used to allocate indirect costs. It is often appropriate to use historical expenses to estimate hours and costs for follow-on contracts or for government…
Outside Insight: When Outsourcing HR Makes Sense
The ever-increasing burden of government regulation on small businesses doesn’t make compliance easy, especially when small-business owners spend so much of their time performing “nonproductive” obligations. Many small and midsize businesses today simply can’t afford to employ managers dedicated strictly to human resources. The answer may be outsourcing. Fortunately, there’s a great range of options…
EEOC Spotlights Disability Discrimination Claims
Federal and state laws have been designed to protect disabled individuals from discrimination. Notably, the Americans with Disabilities Act (ADA) and its subsequent amendments provide legal recourse to aggrieved parties. Frequently, the Equal Employment Opportunity Commission (EEOC) pursues litigation on behalf of individuals when it believes their rights have been violated. Here’s what employers should…
Four Steps to Protect a Special-Needs Child
Raising a child is expensive, and can cost a quarter of a million dollars, not including college. For a child with special needs, that cost can more than double.1 If you’re the parent of a special-needs child, it’s vital to ensure your child will continue to be provided for after you’re gone. It can be…
Four Really Good Reasons to Invest
Forty-eight percent of Americans do not own any stocks, or stock-related investments, such as mutual funds, according to a Gallup poll.1 Individuals may cite different reasons for not investing, but with important long-term financial goals, such as retirement, in the balance, the reasons may not be good enough. Why Invest? To Make Money on Your…