MLR

Monthly Archives: March 2017

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So you think investment policies are only for not-for-profits with millions to invest? Not true. If your organization holds funds in reserve — for example, to cover emergencies or meet long-term goals — it’s prudent to have investment policies. Such policies will help ensure that you manage reserve funds responsibly according to their purpose and take steps to minimize investment risk.

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Do you have an interest in — or authority over — a foreign financial account? If so, the IRS wants you to provide information about the account by filing a form called the “Report of Foreign Bank and Financial Accounts” (FBAR).

Building a budget is a task most of us dread. In order to build up your savings, you need to be accountable for your spending. Family finances can be overwhelming, but the math is simple- to build savings to accomplish short and long term goals, we need to spend less than we make.

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Many small businesses prepare — and regularly update — a strategic plan, but many overlook this important task.

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For-profit subsidiaries of not-for-profit organizations are strikingly diverse. Consider these real-life examples: In one part of the country, a not-for-profit health maintenance organization (HMO) creates a for-profit subsidiary to offer health insurance unavailable through HMOs.

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Nearly every physician has claims denied from time to time. Medicare, as a government program, has its own way of doing things. As you know, the process is different from insurance companies, which also have their own way of handling claims.

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Say you own highly appreciated land that is now ripe for development. If you cash in by subdividing the acreage, developing the parcels, and selling them off for a hefty profit, it could trigger an uncomfortably large tax bill.