Contrary to popular belief, it’s usually perfectly legal to compensate not-for-profit board members — and sometimes it might even be necessary. But is it right for your organization?

Pros and cons
Board member compensation comes with several pros and cons to consider. Your organization might, for exam...

In our experience, your age has a big effect on your attitude towards your business and how you feel about one day getting out. Here's what we have found: 

Millennial Business owners
Twenty- and thirty-something business owners grew up in an age where job security did not exist. They watched as t...

You’ve spent years building your company and now are ready to move on to something else, whether launching a new business, taking advantage of another career opportunity or retiring. Whatever your plans, you want to get the return from your business that you’ve earned from all of the time and money ...

Section 529 plans are a popular education-funding tool because of tax and other benefits. Two types are available: 1) prepaid tuition plans, and 2) savings plans. And one of these plans got even better under the Tax Cuts and Jobs Act (TCJA).

Enjoy valuable benefits
529 plans provide a tax-advantaged w...

Small businesses often use the cash-basis method of accounting. As businesses grow, they usually convert to accrual-basis reporting for federal tax purposes and to conform with U.S. Generally Accepted Accounting Principles (GAAP).

Starting this tax year, the Tax Cuts and Jobs Act (TCJA) has increased...

The typical business or other organization loses 5% of its revenues to fraud each year, with a median loss of $130,000. And about one-fifth of fraud cases involve losses of $1 million or more. That’s according to the Association of Certified Fraud Examiners’ (ACFE’s) Report to the Nations: 2018 Glob...

Do you own a vacation home? If you both rent it out and use it personally, you might save tax by taking steps to ensure it qualifies as a rental property this year. Vacation home expenses that qualify as rental property expenses aren’t subject to the Tax Cuts and Jobs Act’s (TCJA’s) new limit on the...

Every business with more than one owner needs a buy-sell agreement to handle both expected and unexpected ownership changes. When creating or updating yours, be sure you’re prepared for the valuation issues that will come into play.

Issues, what issues?
Emotions tend to run high when owners face a “tr...

At time, business owners, even though tired and nearing burnout, opt to wait couple more years before starting the process of selling their business because they “want to sell at the peak of the next economic cycle.” 

On the surface, this rationale seems to make sense. If you speak w...

Like many business owners, you probably created a business plan when you launched your company. But, as is also often the case, you may not have looked at it much since then. Now that fall has arrived and year end is coming soon, why not dig it out? Reviewing and revising a business plan can be a gr...