Because of the very nature of life insurance, many people don’t want to discuss it. It is difficult to talk about death, so life insurance is often a private matter. But really, it shouldn’t be. For this reason, there are
Traditional strategic planning requires not-for-profit leaders to perform a lot of guesswork about what might happen in the future. This approach also asks decision-makers to explicitly shut down options and possibilities. Real-time strategic planning (RTSP) is a more flexible approach.
While many economic indicators remain strong, the U.S. economy is still giving business owners plenty to think about. The nation’s gross domestic product unexpectedly contracted in the first quarter of 2022. Rising inflation is on everyone’s mind. And global supply
Your accounting and development departments are central to the continued financial health of your not-for-profit. So what happens when communication between these two functions break down? It could result in conflict between staffers, inaccurate financial statements and, in a worst-case
By now, some businesses have completed their 2021 budgets while others are still crunching numbers and scrutinizing line items. As you put the finishing touches on your company’s spending plan for next year, be sure to cover the finer points
It’s been a year like no other. The sudden impact of the COVID-19 pandemic in March forced every business owner — ready or not — to execute his or her disaster response plan. So, how did yours do? Although it
You may view your will as the centerpiece of your estate plan. But other documents can complement it. For example, if you haven’t already done so, consider writing a letter of instruction. Elements of the letter A letter of instruction
It would be an understatement to say 2020 has been challenging. Leaders of not-for-profits still standing are justified in worrying about strained budgets and their ability to deliver on their organization’s promises during a pandemic, financial crisis and time of
Cash flow is a top concern for most businesses today. Cash flow forecasts can help you predict potential shortfalls and proactively address working capital gaps. They can also help avoid late payments, identify late-paying customers and find alternative sources of
Are you wondering if the passive activity loss rules affect business ventures you’re engaged in — or might engage in? If the ventures are passive activities, the passive activity loss rules prevent you from deducting expenses that are generated by