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Strategic Planning Can Help put you Ahead
 by Lee Boss, CPA, MBA
Strategic planning is always important and a properly implemented strategic plan can help your business increase its profitability and competitiveness in its market place. The key word in that sentence is "implemented." Too often we see businesses with well-designed strategic plans fail to implement key components of those plans, thereby failing to reap the potential benefits of the planning process.
We live in an instant gratification society, and so it is no surprise to see some components of strategic plans not implemented. Oftentimes, your strategic plan will not provide immediate benefits so it is harder to work at it. Worse yet, many businesses who have attempted to implement strategic plans and have had less than optimal results have given up on the process, finding it a waste of time. Our experience has been, however, that many of these organizations developed a strategic plan but did not employ a strategic implementation process.
Buy-in is one of the key components to implementing your plan successfully. Unfortunately, the hurdle found most often to significant buy-in is communication. To make sure your management team buys into your strategic plan, thereby making the implementation job easier, keep the communication lines open.
Continue reading to learn more ways to plan for your company's future. |
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Business Succession is Inevitable; Are you Prepared?
by Linda Soley, CPA
The clock is ticking and come December 31, 2012 the window of opportunity for many planning devices will be closed tightly. This is due to the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, which was passed as 2010 came to a close. More than just extending the 2001 Bush tax cuts, this legislation created planning complexities and opportunities in the area of Estate and Gift planning for 2011 and 2012. We wanted to alert you to some planning opportunities and invite you to contact us to discuss how you may benefit from the provisions in this act.
The federal estate tax, along with federal gift tax and generation skip tax (GST), was overhauled significantly in 2001. Under budget rules, however, any changes could extend for only 10 years, and starting in 2011, the estate tax was scheduled to revert to its pre-2001 levels. The passage of the 2010 Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 stopped the reversion to the pre-2001 levels temporarily until December 31, 2012.
Read more about the estate and gift tax update. |
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Contact Us at: The Mercadien Group • P.O.
Box 7648, Princeton, NJ 08543-7648 • Phone (609)
689-9700 • Fax (609) 689-9720
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