Are Your Supervisors Adept At Multigenerational Management?

Over the past year, the importance of leadership at every level of a business has been emphasized. When a crisis such as a pandemic hits, it creates a sort of stress test for not only business owners and executives, but also supervisors of departments and work groups. Among the most important skill sets of any […]

Ring In The New Year With A Renewed Focus On Profitability

Some might say the end of one calendar year and the beginning of another is a formality. The linear nature of time doesn’t change, merely the numbers we use to mark it. Others, however, would say that a fresh 12 months — particularly after the arduous, anxiety-inducing nature of 2020 — creates the perfect opportunity […]

The Right Entity Choice: Should You Convert From A C To An S Corporation?

The best choice of entity can affect your business in several ways, including the amount of your tax bill. In some cases, businesses decide to switch from one entity type to another. Although S corporations can provide substantial tax benefits over C corporations in some circumstances, there are potentially costly tax issues that you should […]

Your Nonprofit May Have A License To Print Money

In this pandemic year, many not-for-profits are scrambling to find new sources of revenue to replace donor contributions and other lost income. If this sounds like your charity, you might want to consider licensing your name and brand to a for-profit business. Ensuring success When licensing arrangements work, both charities and companies can experience significant […]

Should You Reach Out To “Effective Altruists?”

Effective altruism is commonly described as a philosophy that uses evidence and reasoning to determine the most effective ways to benefit others. Not all donors are aware of effective altruism, but the concept is growing in popularity. To determine whether your not-for-profit should try to reach out to its adherents, learn a little more about […]

Collective Impact Initiatives: All For One And One For All

Collective impact initiatives are growing among not-for-profits. Such initiatives are about more than collaboration. They represent the commitment of a group of organizations to a common agenda for solving a specific social problem. This group can include the nonprofits themselves, government agencies, businesses and constituent communities. Should your nonprofit participate in collective impact? 5 requirements […]

Buy-Sell Agreements: A Smart Business Decision Also Makes Estate Planning Sense

Do you own a business with one or more individuals? Undoubtedly, your interest in the business represents a substantial part of your net worth and is likely your “pride and joy.” So it’s normal if your fondest wish is for the business to continue long after you’re gone or for you to keep it running […]

Financial Reporting For Nonprofits That Have Teamed Up

Not-for-profits sometimes team up with other entities to boost efficiency, save money and better serve both organizations’ constituencies. This can be a smart move — so long as your accounting staff knows how to report the activities of the two organizations. How you handle reporting depends on the nature of your new relationship. Collaborative arrangements […]

Business Succession and Estate Planning: It Can Be Complicated

Transferring a family business to the next generation requires a delicate balancing act. Estate and succession planning strategies aren’t always compatible, and family members often have conflicting interests. By starting early and planning carefully, however, it’s possible to resolve these conflicts and transfer the business in a tax-efficient manner. Ownership vs. management succession One reason […]