Women control about $14 trillion in assets in the U.S., which is comparable to the gross domestic products of China and India combined—and they are under-served by financial advisors. The industry needs to hone its services to reflect the growing power of female clients. To read the full article in Financial Planning, click: Rich Women Increasingly Call the Shots, Wealth Management Execs Say.
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Modern New Business Rule and How it Has Been Applied by the Courts Earlier this year, the author published two articles that appeared in QuickRead discussing calculating lost profits and defense responses for lost profits calculations in cases falling under the modern new business rule. The foundation for the article on defense strategies was an article published by Victor Goldberg. Following publication, the author was contacted by Mr. Goldberg, who recommended additional reading on this topic. That has led to this article. Under the new business rule, a new or unestablished business could not recover lost profits. This rule was…
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For Rural Health Clinics Competition (Part II of V) As discussed in the first installment of this five-part series regarding Rural Health Clinics (RHCs), the significant proportion of RHCs operating at a loss has led to an overall reduction in the number of RHCs. Despite this decrease, the demand for RHCs continues to rise, limiting access to care for patients in rural communities. This second installment will review the competitive environment of RHCs. As discussed in the first installment of this five-part series regarding Rural Health Clinics (RHCs), the significant proportion of RHCs operating at a loss has led to…
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Decision makers fed up with slow or subpar results take heart. Three practices can help improve decision making and convince skeptical business leaders that there is life after death by committee. To read the full article in McKinsey & Company, click: Three Keys to Faster, Better Decisions.
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Children of military personnel who died in active duty are facing a surprise tax bill for their annual survivor’s benefit thanks to the new tax law. The new law simplified the Kiddie Tax by switching the rate from the parents’ rate to trust tax rates. In one case, a 6-year-old owed $7,000 in federal taxes two years after his father, a U.S. Navy senior chief petty officer, died of a heart attack. To read the full article in Financial Planning, click: Tax Surprise for Children of Gold Star Families: Tax Strategy Scan.
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If, like the Rolling Stones, you can’t get no satisfaction (on the job), a recent survey may be able to shed a little light on why. Business backer FundRocket asked more than 1,000 workers what gives them purpose and pride at work—and what they found may surprise you. (Hint: It doesn’t come down to salary.) To read the full article in Glassdoor, click: The Real Source of Job Satisfaction.
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Establish Yourself as a Sought-after Speaker Public speaking offers a range of opportunities—from professional growth, to promotion of you and your business, to breathing new life into your existing network. In addition, by doing a little preparation and research, you will find many excellent opportunities within your reach. In this article, the author helps the reader learn how to find the perfect audience for their expertise—and lay groundwork for speaking engagements that will help the expert and their company. Public speaking offers a range of opportunities—from professional growth, to promotion of you and your business, to breathing new life into…
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Applicable to Real Estate Holding Companies (Part I of II) In this two-part series, the author discusses real estate holding companies and describes the use of minority discounts (also known as the discount for lack of control [DLOC]) in the valuation of partial, non-controlling interests in entities holding real estate as their primary and most valuable asset. Part II will address the use of the discount for lack of marketability (DLOM) and certain other discounts applicable to interests in real estate holding companies. [su_pullquote align=”right”]Resources: Discounts for Lack of Marketability (DLOM) Workshop Advanced Valuation: Applications and Models Workshop How and…
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The congratulatory texts and tweets started the last week of November. Microsoft had overtaken Apple to become the world’s most valuable company, a stunning climax in a year that also saw it pass Amazon and Google’s Alphabet Inc. Longtime employees, who’d grown accustomed to thinking of Microsoft as far removed from its glory years, when it was run by Bill Gates and feared as the “Evil Empire,” were flooded with messages from friends and family. To read the full article in Bloomberg Businessweek, click: The Most Valuable Company (for Now) is Having a Nadellaissance.
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The internet has revolutionized the workplace over the past three decades. Artificial Intelligence is now poised to do the same, and businesses that do not capitalize on the technology risk being left behind. Global tech giants like Amazon have been leading the charge—with algorithms powering personalized shopping recommendations and personal stylists—but businesses of all sizes are now embracing the technology for recruiting and managing their staff. To read the full article in CNN Business, click: Want to Work for L’Oreal? Get Ready to Chat with an AI Bot.
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For a business or CPA firm, a disaster can take the form of a catastrophic weather event, a cyberattack, or even a sudden regulatory decision that may put the future of the organization in jeopardy. It may be impossible to prevent such a disaster, but proper planning can help minimize the damage and disruption an organization suffers if it is hit by a catastrophe. In this podcast, Jennifer H. Elder, discusses how to prepare so that an organization’s finances and reputation will be protected if a disaster occurs. To read the full article in Journal of Accountancy, click: Why You…
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for Rural Health Clinics (Part I of V) The first of a five-part series where the authors describe the issues encountered valuing rural health care clinics. This first article discusses fair market value considerations for rural health clinics. Introduction Rural health clinics (RHCs) are specially certified entities that were created in order to increase access to primary care services for patients located in rural communities.[1] RHCs were established via the Rural Health Clinic Service Act of 1977, which law was promulgated to address the increasing shortage of healthcare services in rural areas.[2] These clinics are specially licensed healthcare organizations through…
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Selecting a Mediator is More Important Than Ever, Or? Mediation is the primary case management device used by the courts to resolve disputes, and the mediation process is frequently included in the dispute resolution section of most contracts. In some situations, mediation is even mandatory. What is interesting to note is that there are no uniform, national standards for training or regulating mediators. Some courts have standards for mediators on their rosters, but private practice mediators are virtually unregulated. Unfortunately, mediation has not met the test of a true profession. In this article, the author shares questions to consider asking…
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Olympic athletes are at the peak of their careers, but even they need rest days to stay healthy. Sometimes financial markets need to reset from record-setting performance, too. Here’s what you need to know about bear, or down, markets. To read the full article in Hartford Funds, click: 10 Things You Should Know About Bear Markets.
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As Apple and Amazon compete for a greater share of consumer dollars and attention, they also have a particularly intimate business relationship: Apple is spending more than $30 million a month on Amazon’s cloud, according to people familiar with the arrangement. To read the full article in CNBC, click: Apple Spends More Than $30 Million on Amazon’s Cloud Every Month, Making it One of the Biggest AWS Customers.
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Disagreements at work are common. Most people spend their week working with colleagues who have different ways of thinking and communicating. While having many different personalities on one team can often be a benefit, it can also fuel conflict, putting employees and their managers in awkward positions. To read the full article in Journal of Accountancy, click: How to Handle Office Conflict.
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A Neutral Approach to Unimpeachable Standards C. Zachary Meyers, CPA. CVA, the author of this article, is NACVA’s Standards Board (SDB) Chair. The SDB was formed in 2016. The SDB’s purpose is to promulgate NACVA’s Standards, including the development of interpretations, amendments, restatements, and new releases of NACVA’s Standards as deemed necessary and prudent. While being able to influence the very rule governing one’s profession is an astute honor, the most rewarding role performed by the SDB is that of responding to questions that a member has asked or issue they are dealing with. This article discusses how standards must…
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Using Forensic Accounting Valuing the small business is how most valuators earn their living. These small businesses pose as much issues to valuation professionals as they do for tax, accounting, and legal professionals by providing these entities with advice. The issues are wide-ranging, and the purpose of this article is not to patronize small business owners; rather, the purpose of this article is to discuss the challenges we in the valuation community face when valuing small businesses and how forensic accounting techniques can help. [su_pullquote align=”right”]Resources: Forensic Accounting Academy Forensic Accounting Specialty Webinars Forensic Accounting Techniques in Business Appraisals Financial…
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The financial crisis of 2008 may have started in the U.S. banking sector but it went on to unleash the deepest global recession since the Great Depression. To read the full article in World Economic Forum, click: An Economist Explains What Happens if There is Another Financial Crisis.
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It’s not hard to envision Gen X advisors finally achieving things that many of us hoped would happen a decade or more ago. To read the full article in Financial Planning, click: How I Stopped Worrying and Learned to Love the Next-Gen Takeover.