MLR

Resources

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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.

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Business succession and exit planning should ideally be done over a long period of time (unless illness or another emergency makes it necessary to address them in the short term).

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Would you use a complicated discounted cash flow analysis to estimate the value of a mom-and-pop restaurant? How about using a price-to-earnings multiple derived from publicly traded restaurant chains? Neither method seems appropriate for a small family-operated eatery.

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A “100% penalty” can be assessed against a responsible person when federal income tax and/or federal employment taxes are withheld from employee paychecks but aren’t handed over to the government.

Although HIPAA has been in place since the 1990s, many businesses are still having difficulty complying with parts of its laws. The main area where companies struggle is protection of personally identifiable information. This is information such as a last name, birth date or other piece of data that could reveal a person’s identity to the public.

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The Section 179 deduction for qualified real property expenses was made permanent under the Protecting Americans from Tax Hikes (PATH) Act of 2015. However, claiming this deduction isn’t a no-brainer. Here are the pros and cons.

Each generation in America has their own unique struggles and challenges.  Baby Boomers came of age post World War II with parents that either survived the depression, the war or both.  This forever melded their financial outlook on life.  Generation X’ers are the sandwich generation balancing the world of entitlement for their Millennial children and taking on the care of their Baby Boomer parents as they slide into their golden years.  Millennials will have their own battles to fight and dragons to slay.  They will face a world of excessive college debt and difficulty finding jobs in their chosen fields.  Others will either incur high housing costs or deal with moving back home with parents.  How do they best approach and conquer this challenge in their lives?  Here are some tips Millennials should consider when planning out their financial future.