A Legally Binding Contract
The success of your business depends to a great extent on the quality of the contracts you sign. A good contract protects everyone, while a bad contract could ruin you. Every time you promise to exchange services or property, you create a contract — either written or unwritten. Oral contracts present several problems. They can…
From Reluctant to Excited: Turn Your Board into Enthusiastic Fundraisers
If your not-for-profit organization expects its board members to play a fundraising role, you probably already know how difficult it can be to motivate them. They’re busy people, and even when they have excellent connections, they’re not always comfortable asking those in their network for money — however noble the cause. Fortunately, there are ways you…
Effective Retirement Planning Includes Contingencies
Roughly one in five Americans in the workforce believe that “working for pay” will be a major source of their retirement income. This is according to the “2018 Retirement Confidence Survey” produced by the Employee Benefit Research Institute (EBRI). Nearly half of respondents believe paid work will be a minor source of retirement income for them. This…
Successful Strategies Create Successful Mergers
Acquiring another company and merging it with your business can be the most efficient way to grow. But many acquisitions don’t pay off and it’s often management issues — not market conditions — that get in the way. Here are eight key strategies that spell the difference between success and failure in mergers and acquisitions,…
Tax Law Changes Affecting Partnerships, LLCs and Their Owners
The Tax Cuts and Jobs Act (TCJA) brought many modifications to the tax laws that affect partnerships, limited liability companies (LLCs), and their owners. Here’s a look at the key changes. Technical Termination Rule Repealed Under prior law, a partnership (or LLC treated as a partnership for tax purposes) was considered to terminate for federal…
Sell Corporate Stock Tax-Free to an ESOP
When family business owners sell C corporation stock for a big profit, they usually qualify for the current 20% maximum federal rate on long-term capital gains (assuming they’ve owned the shares for over a year). While a 20% rate is good, a tax-free sale to an ESOP could be even better. Current rules: The maximum…
Tax Law Expands Accounting Method Options for Small Businesses
Thanks to changes included in the Tax Cuts and Jobs Act (TCJA), many more businesses can now use the simpler and more-flexible cash method of accounting for federal income tax purposes. The new law also includes some other tax accounting changes that are good news for small businesses. Like many TCJA changes that apply to…
Link Email to Your Website
Many companies overlook the humble email signature’s ability to drive traffic to their websites. These businesses spend big dollars to advertise their sites and get priority placement on search engines. Meanwhile, everyone from the company president to the mailroom supervisor crank out countless emails that, with one click, could easily link recipients to the company’s…
Do You Understand Copyright Law?
One of the major challenges facing your business is likely maintaining a website — and at the top of that list is protecting content, along with other published work your company may produced. A Copyright Prevents Others From: Reproducing a work in copies or sound recordings. Creating spin-off or “derivative” material. Distributing copies to the…
Time Theft: What Does it Cost You?
Whatever happened to the American work ethic? Whatever happened to the belief that when a person puts in eight hours a day, he or she is giving his or her best effort? Why Do American Workers Embrace the Work Ethic, While their Actual Job Performances Often Show the Opposite? America’s Puritan ancestors valued work for the…