With millennials constituting a significant chunk of the workforce, it is important for employers to avoid preconceived notions about this generation. Leaders should stay focused on the future and recognize that asking the right questions can encourage self-reflection among employees. To read the full article in Quartz at Work, click: Steps for Becoming a Better Leader for Millennial Employees.
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The Securities and Exchange Commission has approved amendments to Regulation S-K aimed at simplifying and modernizing disclosure by public companies, consultants and money managers. The amendments are required under the Fixing America’s Surface Transportation Act of 2015. To read the full article in Pensions & Investments, click: SEC Simplifies Disclosure by Public Companies, Money Managers.
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On March 4, 2019, the U.S. Supreme Court held that the Ninth Circuit’s expanded view of “full costs” in copyright cases was improper, going beyond the “costs” typically available to litigants in federal court. Rimini Street, Inc. et al., v. Oracle USA, Inc., et al., No. 17-1625, slip op. (U.S. Mar. 4, 2019.) This ruling overturns a $12.8 million award granted to Oracle USA Inc. for its “nontaxable costs,” which included expert witness fees, jury consulting fees and electronic discovery expenses. To read the full article in Taft, click: Copyright Litigants Entitled to “Full” Costs, Not “Extra” Costs.
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Consider Michael Jackson, the Empire State Building, and Myriad of Value Drivers (Part II of II) In this concluding article, the second of a two-part series, the authors conclude presenting additional illustrations that underscore their primary thesis: that in many businesses, value is illusory and there are a host of factors that are unanticipated and cannot be modeled. In this concluding article, the second of a two-part series, the authors conclude presenting additional illustrations that underscore their primary thesis: that in many businesses, value is illusory and there are a host of factors that are unanticipated and cannot be modeled.…
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Options that Provide Superior Results Compared to Renting Marketers of accounting and valuation firms have long used e-mail marketing to nurture new and existing prospects. But what is the best way to develop a good list in the first place? This article provides seven proven strategies for building your firm’s e-mail list faster. Marketers of accounting and valuation firms have long used e-mail marketing to nurture new and existing prospects. But what is the best way to develop a good list in the first place? Here are seven proven strategies for building your e-mail list faster. More digital marketing tips…
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More than a third (35 percent) of employers intending to hire temporary workers expressed concerns over the availability of agency workers with the required skills—with the construction sector expecting the largest crunch in this area—while almost half (47 percent) of employers said they were using agency staff to manage uncertainty. To read the full article in People Management, click: Falling Economic Confidence Now Affecting Hiring Decisions, Says Survey.
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Two-thirds of business leaders fear that their organization could become irrelevant if they fail to move to a “hybrid” workforce. According to research by Capita People Solutions, a successful transition to a combined human and artificial intelligence, or hybrid, workforce is the most important priority for 72% of leaders in the next five years. To read the full article in Personnel Today, click: Business Leaders’ Top Concern is Moving to a Hybrid AI-Human Workforce.
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Many of us today work in a cross-cultural environment. In such a setting, meaning may differ greatly when a writer comes from a culture different from that of the reader, whether the communication is between colleagues or those doing business with one another. This advice can help you compose and interpret professional correspondence. To read the full article in Financial Management, click: Avoiding Cultural Mishaps in Your Business Writing.
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Everything is Changing (Part I of II) In this two-part article, the authors present some illustrations that indicate the illusion of value of many businesses. Business appraisers have many tools to determine the value of a closely held business. So many so, that many “official” conclusions of value for the same business generate significant differences. This borne out by the normal expectation of rebuttal reports in marital and shareholder disputes, tax litigation over estate, gift and charity values of family businesses, and fair value situations. In some instances, there are multiple valuations. Many valuations are prepared to fulfill a purpose…
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Private Equity’s Fast and Furious Entry into Healthcare (Part III of III) The third of this three-part series examines why private equity and venture capital firms are targeting the healthcare industry and the issues that they encounter managing their healthcare portfolio. Private equity (PE) and venture capital (VC) firms are attracted by the potential for growth that exists in the healthcare industry; however, significant barriers also exist that may limit the expansion of PE and VC in healthcare, including the requirement for specialized knowledge to understand the operations of a clinical services provider, healthcare industry specific regulatory issues, latent long…
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As the regulatory landscape has evolved, compliance departments and the chief compliance officer (CCO) have become increasingly important, helping organizations to adapt. Many CCOs sit on boards and report directly to the chief executive. They are no longer on the outside looking in on business development; instead, they are a key cog in the machinations of the C-suite. To read the full article in Financier Worldwide, click: The Evolution of Compliance.
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If clients fail to consider their heirs’ tax brackets when crafting estate plans, heirs could lose more money to taxes than they need to. Dividing taxable and tax-deferred accounts in accordance with the unique financial situation of each heir can lead to better results. To read the full article in Kiplinger, click: Equal Shares for Heirs? Not Unless You Take Taxes into Account.
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Of a Successful Negotiation It does not matter if you are going to be involved in direct negotiations or negotiating a settlement during mediation, the key is to determine the answers to five critical questions. In this article, Nancy Neal Yeend shares the five critical questions and answers that must be addressed to successfully negotiate. It does not matter if you are going to be involved in direct negotiations or negotiating a settlement during mediation, the key is to determine the answers to five critical questions: Who will attend the negotiations? What is the extent of their settlement authority? How…
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Attaining Reasonable Certainty in Economic Damages Calculations (Part III of III) The purpose of this article—the third of three (Part I and Part II) on this topic—is to provide the reader with an understanding of Chapter 3 (What Constitutes Best Evidence) of the 2018 Practice Aid as well as certain other publications containing a body of knowledge on the best evidence to support economic damages in a court of law. Prior articles dealt with Chapter 1 (Revenue and Growth Rates) and Chapter 2 (Costs) of the 2018 Practice Aid and related topics. In 2015, the American Institute of CPAs (AICPA)…
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After the death of a spouse, a client has several options for handling the retirement accounts that belonged to the deceased. Here is a brief overview of the financial implications of different strategies for managing IRAs and Roth IRAs. This helpful chart shows the rules and requirements related to distributions for clients who inherit a Roth IRA. To read the full article in MarketWatch, click: Tips for Managing an Inherited IRA.
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The Internal Revenue Service has announced it is lowering to 80% from 85% the amount taxpayers must have paid to escape an underpayment of estimated income tax penalty for 2018. The usual rule requires at least a 90% payment of tax shown on the return. To read the full article in the Journal of Accountancy, click: IRS Expands Relief from Underpayment Penalty.
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A survey found that most women prioritize planning for retirement and their family’s future, but more than seven in 10 believe they are not doing a very good job. Running out of money in retirement is a big worry for 70% of women, but only 20% of them have come up with a plan to deal with this challenge. The Women’s Resource Center, found in Broadridge Advisor, contains dozens of client articles, illustrations, and other resources to share with female clients, who often face unique financial challenges and circumstances. To read the full article in Plan Adviser, click: Women Fear…
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Full-Time Mother and the Firm Perspective (Part II of II) This article is a follow-up article to an earlier article written by Laura Whitman, CPA, MS, manager, WithumSmith+Brown, PC titled Part-Time Accountant; Full-Time Mother. In this article, Edward Mendlowitz, CPA, ABV, CFF, interviews John Mortenson, CPA, partner in charge of the Withum East Brunswick, NJ office who interviewed Laura Whitman regarding how she managed her roles and how this impacted the firm. Follow-up to article by Laura Whitman, CPA, MS, manager, WithumSmith+Brown, PC, titled Part-Time Accountant; Full-Time Mother. Interview with John Mortenson, CPA, partner in charge of East Brunswick, NJ…
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For Prospects and Clients to Work With You One of the easy-to-implement practice development tips proposed by the author, who coaches, is this: If you are looking to build/grow your practice, start by making just one thing easier for your prospects and clients to use or understand. Identify something they do, read, or experience and answer this question: How could I make that easier? In this article, four courses of action are presented. One of the easy-to-implement practice development tips I talk about with coaching clients is this: If you’re looking to build/grow your practice, start by making just one…
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The Internal Revenue Service has proposed regulations meant to address inconsistent treatment that could arise as a result of the temporary increase in the exclusion amount for estate and gift taxes that was included in the Tax Cuts and Jobs Act. To read the full article in the Journal of Accountancy, click: Estate and Gift Exclusion Clawback Addressed in Proposed Regs.