In the News

Copyright 2022
With the increase in health plans requiring members to pay all or part of their office visits, practices are faced with the challenge of asking patients for full payment. This can be upsetting for the patients and uncomfortable for the staff who deal with them. Here are eight strategies for improving collections from self-pay patients:
Copyright 2022
Joint ventures are common in the construction industry, especially with large long-term projects. These collaborative arrangements allow construction firms to work together, for a limited time period, on one or more construction projects. The upsides include pooling of expertise and resources, broader geographic reach, reduced risk, and enhanced financing and bonding capacity. But joint ventures also have potential pitfalls, so they need to be set up and managed with care.
Copyright 2022
Let's say your company has slashed costs to the bone, boosted productivity and taken market share from competitors. But you still want to see some improvement. It's time to find your weakest link and turn it into a strength.
Copyright 2022
Buying a house in today's overheated real estate market can be challenging — especially as mortgage rates are on the rise. But financially secure parents who are considering downsizing or relocating to greener pastures may want to consider transferring their homes to their adult children. Here are three options to consider.
Copyright 2022
In today's tight labor market, small businesses may need to think outside the box to find employees to fill open positions. In some cases, you may have to sweeten the deal with higher salaries or extra benefits. But you may be able to offset higher compensation costs with a lucrative federal tax credit for hiring members of certain "targeted" groups. Here's what employers should know to take advantage of the Work Opportunity Tax Credit (WOTC).
Copyright 2022
There was once a time when a retiring doctor could easily sell a thriving practice to a hospital or practice management company. These days, many practice management firms are out of business and hospitals are more likely to be selling than buying. So if you're heading for retirement and planning to put your practice up for sale, the choices may be limited to the following candidates:
Copyright 2022
Whether the residential real estate market is up or down, there are always homeowners who want to — or have to — sell their homes. If you're a prospective seller making your property look like a model home in the hopes of raking in a nice profit, now is a good time to review how taxes will factor into the transaction. With the home sale gain exclusion tax break, the profit from selling your principal residence might be free from federal income taxes (and possibly state income taxes too). The rules are straightforward for most sellers.
Copyright 2022
It's critical for your organization to keep accurate tax records and maintain a good recordkeeping system. This way, you can respond to an IRS audit or prove compliance with various laws should it become necessary. However, you don't have to retain every paper document or electronic file that crosses your desk. The IRS requires organizations to keep certain essential documents on file. These records back up accounting entries, reported taxable income, expenses and deductions.
Copyright 2022
Construction projects require cooperation and coordination among a long list of participants including architects, contractors, subcontractors and others. So it's not surprising that even the most straightforward construction projects can result in disputes and ultimately, costly litigation. Before embarking on a construction project, consider how best to prepare your company to defend or pursue a construction claim in the event that all doesn't go as planned.
Copyright 2022
Internal fraud drains approximately $4.5 trillion dollars annually from global businesses, according to the Association of Certified Fraud Examiners (ACFE). According to ACFE's latest Report to the Nations, the median internal fraud loss in manufacturing and production companies is $198,000. Although companies can experience pilferage from customers, vendors and other sources, employees account for the highest losses, when taking into account offenses such as fraudulent insurance claims, unauthorized time off and theft of proprietary information. Crimes can be as simple as stealing company supplies or as complex as sophisticated financial statement fraud.

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