2008
Showing 593–608 of 608 results
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Seal your exit strategy with an ESOP
January / February 2008
Newsletter: Tax Impact
Price: $225.00, Subscriber Price: $157.50
Word count: 870
Abstract: Many successful business owners have a substantial portion of their net worths tied up in their companies. Even if one plans to stay actively involved in a company for many years, it’s important to have an exit strategy that addresses when to convert business interests into cash for investment diversification purposes. Designing an exit strategy can be challenging — especially if a business is closely held or the company’s stock is thinly traded. How can a business owner cash out without selling the company to an outsider or giving up control? This article suggests one way: Implement an Employee Stock Ownership Plan (ESOP), which creates a market for stock and offers tax savings and other benefits to the company as well as its owners and employees.
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The times they are a-changin’ – New risk-assessment standards will affect your annual audit
Winter 2008
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 728
Abstract: If yours is a privately held construction business, get ready: Your CPA will be taking a closer look at your 2007 year end financial statements. This article delves into the new risk-assessment standards issued by the American Institute of Certified Public Accountants in March 2006. The new standards are the most significant change to auditing in the last 30 years, and they will affect CPAs and contractors alike.
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Retainage: Necessary practice or unfair penalty?
Winter 2008
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 890
Abstract: Imagine a doctor’s response if patients said they wouldn’t pay the full cost of their annual physicals until they were convinced of their good health. The doctor would probably see it as a joke. Yet, under the practice of retainage, construction project owners do this all the time. This article explores the topic from both sides of the issue and discusses some possible remedies that you may want to implement on your next project.
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Should your practice conduct an internal coding and documentation audit?
Winter 2008
Newsletter: Vital Signs
Price: $225.00, Subscriber Price: $157.50
Word count: 447
Abstract: To save money, many practices choose to do an internal coding and documentation audit instead of an external one. This article emphasizes that there’s certainly nothing wrong with going this route — as long as the audit is done the right way.
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Juggling the JCAHO jargon
Winter 2008
Newsletter: Vital Signs
Price: $225.00, Subscriber Price: $157.50
Word count: 611
Abstract: With competitive and financial pressures in the marketplace escalating, more and more physician practices are finding partnerships with hospitals/health systems one of the only viable ways to survive. Among the greatest challenges created by these partnerships, however, is the need to understand, accept and comply with Joint Commission on Accreditation of Healthcare Organizations (JCAHO) standards. This article looks at how physicians can better adjust to JCAHO standards by recognizing the benefits and learning the lingo.
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When cutting overhead costs, creativity counts!
Winter 2008
Newsletter: Vital Signs
Price: $225.00, Subscriber Price: $157.50
Word count: 621
Abstract: In this day and age, reducing expenses in the office may seem like an impossible task. While many practices are experiencing a reduction in revenues, overhead costs are increasing, causing an erosion of practice profit margins, which, in turn, is dramatically affecting physician income. This article offers some suggestions for helping practices cut overhead costs while, of course, maintaining the same great level of patient care.
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And the survey says … Assess your operations by asking staff and physicians the right questions
Winter 2008
Newsletter: Vital Signs
Price: $225.00, Subscriber Price: $157.50
Word count: 979
Abstract: Many physicians and managers are so busy with the day-to-day operations of their practices that they don’t take the time to conduct regular diagnostic check-ups of the business. By surveying physicians and staff about the state of the practice, practice leadership can gain great insight into any problems that may be brewing or discover issues that need to be addressed immediately. This article shows how to structure a survey and suggests some questions to ask.
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Buy-sell agreements — A wise risk-management move
Winter 2008
Newsletter: Vital Signs
Price: $225.00, Subscriber Price: $157.50
Word count: 682
Abstract: The best time to draft a buy-sell agreement is when things are going well and a medical practice’s partners/shareholders are likely to reach an amicable agreement. Unfortunately, the circumstances that these agreements address often occur at difficult times and may disrupt the practice, ultimately reducing the value over which the owners are at odds. This article explains why obtaining a buy-sell agreement sooner rather than later is a wise risk-management move.
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No more cookie-cutter FLP valuations
January / February 2008
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 475
Abstract: Attention to detail and thorough documentation are key ingredients to preserving family limited partnership (FLP) valuation discounts. This brief article notes some of the ways valuators support these discounts and uses a case study to illustrate the need to consider state tax regulations and provide well-founded written documentation in supporting FLP valuation discounts. Citations: Estate of Helen H. Berry, No. 1485 C.D., LEXIS 182, April 24, 2007. Estate of Thompson, 382 F. 3d 367, 379, 3rd Cir. 2004.
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Buy-sell agreements gone bad — Plan for the unexpected with a comprehensive plan
January / February 2008
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 636
Abstract: Buy-sell agreements are legal contracts that spell out buyout terms and provisions during key ownership changes. But inadequate agreements can create problems when owners can least afford the turmoil. This article explains some of the common valuation-related mistakes owners make when setting up buy-sell agreements, including failing to define buyout terms, using ambiguous or outdated valuation formulas, and misstating or failing to verify financial data. The article emphasizes the importance of consulting with an experienced valuation professional to ensure the agreement covers all the bases.
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How to turn compliance into a profit center
Winter 2008
Newsletter: Community Banking Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 852
Abstract: The Patriot Act beefed up the Bank Secrecy Act (BSA), imposing new obligations to ferret out suspicious customer activities and deter money laundering activities. The cost of compliance is steep. But smart bankers look at their BSA responsibilities not as unwelcome costs, but as an opportunity to generate new revenue, improve efficiency and strengthen customer satisfaction.
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VoIP marries computers with telephones
Winter 2008
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 424
Abstract: Voice over Internet Protocol (VoIP), which provides phone service via the Internet, is hot and getting hotter. Some dealerships find it saves them money while creating efficiencies in the showroom that traditional telephone service never could. But before you ring wedding bells for Ma Bell and Papa PC, you need to consider this technology’s costs, functionality and risks.
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Think like an IRS agent – Beware of 9 red flags that invite an audit
Winter 2008
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 867
Abstract: With the IRS auditing about 1.3 million returns each year, dealers must stay on their toes. Obviously, the agency can’t audit every return, so it relies on key indicators — red flags — to narrow the scope. The best way to avoid trouble is to think like an IRS agent while examining your business and tax-filing practices. This article includes nine red flags that invite an IRS audit.
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All’s fair? Court rules on standard of value in shareholder dispute
January / February 2008
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 577
Abstract: The recent decision in Kim v. The Grover C. Coors Trust demonstrates the dramatic consequences that the very different definitions of fair value and fair market value can create. This article explores the issues in question and reinforces the notion that the parties to a valuation should clearly define the standard of value at the beginning of an engagement.
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What to expect from the new business valuation standard
January / February 2008
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 925
Abstract: The American Institute of Certified Public Accountants (AICPA) has issued a new valuation standard that takes effect for engagements accepted on or after Jan. 1, 2008. Statement on Standards for Valuation Services No. 1, Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset applies to all AICPA members, including those who perform valuations for certain purposes — including transactions, financings and taxation. This article discusses how the new standard can affect attorneys by permitting only two types of engagement reports.
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A question of relevance – Calculating lost prospective profits
January / February 2008
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 991
Abstract: Establishing lost profits for businesses that were never actually operational can prove difficult. In Parlour Enterprises Inc. v. The Kirin Group, a California appellate court weighed in on the key factors to consider when calculating prospective profits in such cases. As this article explains, the court’s decision emphasizes the need to hire qualified valuators who can build a case with reasonable certainty by using, for example, expert testimony, financial data and market surveys.