Authors of New Book Describe How Ability to Bring in New, High-Quality, Well-Paying Clients Consistently is Key Bruce H. Rogers and Russ Alan Prince are the co-authors of the just published book Profitable Brilliance: How Professional Service Firms Become Thought Leaders. At Forbes, the authors detail how a strong referral strategy is critical to a profitable, growing business, and that one of the best ways to build a referral network is by establishing yourself as a thought leader:
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When Do Too Many Active Shareholders Hurt Instead of Help? At Forbes, Lawrence Siff relates his conversations with CEOs of two family businesses, discusses the challenge of bringing in new leadership, and offers tips on how and when to go about it:
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You’ve probably already read this story—Facebook Co-Founder Renounces U.S. Citizenship in Advance of IPO, Saving Millions in U.S. Taxes —heard about it on the radio, or seen it on TV. But Paul L. Caron of The TaxProf Blog has done a remarkable job of aggregating all the media responses to the story from about 20+ outlets, and linking to previous posts this week on the developing story. On Thursday: Bloomberg: Schumer Proposes Tax on People Like Facebook’s Saverin: U.S. Senator Charles Schumer proposed legislation that would impose a 30% capital gains tax on people like Facebook co-founder Eduardo Saverin unless…
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Blame Disaster on Bad Inputs. Black-Scholes Works. The last few years have given us plenty of reasons to hate financial models. Models that promised to increase efficiency and manage risk became substitutes for common sense and justifications for greed. The real estate bubble was of course justified by them. Yet people at hedge funds and trading firms, using models to mint money, remain passionate believers. Another supporter is George Szpiro, a mathematician turned writer who recently released a book called Pricing The Future, about the history of the Black-Scholes equation, the most famous model in finance and the one that launched…
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IT Guru Turns Out to Be Security Hole Roger Kay reports at Forbes: Small businesses have become a choice target for hackers, but by far the most common — and devastating — attacks on small businesses are inside jobs. This is the story of one such assault. The target (we’ll call him Peter) trusted his IT guy (Joe, for our purposes) because Joe worked magic. Peter didn’t understand exactly what Joe was doing, but had to trust him anyway because Peter couldn’t perform those functions himself. Ironically, in his former life, Peter was CFO at a large oil company and…
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S Corporation Rental Income Not Passive Except When It Is Peter J. Reilly reports at Forbes: Private Letter Ruling 201118011 A C corporation is a taxable entity. Distributions that it makes to its shareholders are also, generally, taxable to them. People who don’t want to pay tax twice on the same income will make an S election. The shareholders are taxed on whatever the earnings are regardless of distributions. Distributions of those earnings will generally not be taxable. It’s pretty easy if the corporation made the election effective day one of its existence. Former C corporations have other problems. If…