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Knowledge and Insights: Newsletters

Employer 401(K) Plan Remittances – How Much Time & Risk Do You Have?

When an employer sponsors a defined contribution retirement plan, such as a 401(k), it is providing employees with a great opportunity to save for retirement.  In most cases, employees are allowed to defer a certain amount or percentage of their pay from each paycheck to contribute to the retirement plan. Although withholding and remittance of…

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Contemplating a Move to a State with Lower or No Income Taxes? Don’t Pack Your Bags Yet

Taxpayers of high-tax states often contemplate relocating and establishing their domicile in a more tax-friendly state.  With the latest tax act and the maximum federal deduction available for state and local taxes capped at $10,000, many more taxpayers are posing this question and exploring a strategy to change their domicile.  The strategy and success of…

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New Jersey Enacts New Income Tax Exemption for Veterans

You may qualify for a $3,000 exemption on your New Jersey tax return if you are a military veteran who was honorably discharged or released under honorable circumstances from active duty in the U.S. Armed Forces on, or any time before, the last day of the tax year 2017. You will be able to add…

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The IRS TE/GE Office 2018 Work Plan

The IRS Tax Exempt and Government Entities (TE/GE) Office recently issued its fiscal year 2018 work plan. The plan outlines the issues the IRS will focus on as well as the efforts and initiatives they intend to follow in the coming year. The following summarizes highlights of the work plan and its parts. Exempt Organizations…

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Assessing Internal Controls

Every organization needs internal controls to safeguard its assets, assure its accounting data is accurate and reliable, promote operational efficiency and encourage compliance with its prescribed policies and procedures. The start of a new year is a good time to take a fresh look at these controls to see how they measure up. A good…

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How to Increase Your Business Value Using Value Drivers

A fundamental aspect of a successful business exit is assuring that your business has enough value to allow you to exit with financial security. This, coupled with wisely invested non-business assets, gives you the best chance to pursue the Exit Path you want on the timeline you want. Obtaining a proper, professional business valuation is…

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Is the Bank With You or Against You?

Many business owners have mixed feelings about their banks and their banking representatives. They are unsure about whether they can be completely honest about their business without a negative impact on the bank relationship. On a daily basis, you do not spend much time thinking about your banking relationship. When the time comes to tell…

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Tips for Complying With New HMDA Rules

Once again, banking compliance professionals are in full swing preparing for the new HMDA rules. This is the biggest change since the recent TRID rules that banks still are getting used to. HMDA/Regulation C remains one of the top three most-commonly cited laws/regulations by the regulatory agencies. In the years since HMDA was originally enacted,…

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Advocacy vs. Lobbying by Nonprofits

Do you get a little nervous when anyone talks about lobbying? What about advocacy? Do you know the difference between the two? There are many issues facing the nonprofit industry, some of which require organizations to speak up and get involved in public policy. I have heard numerous times from organizations that they (or their…

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A Sustainable Business Model – More Important Than Ever

I’ve been helping numerous clients work through recent challenges stemming from funders’ demands, many of which are changing an organization’s entire way of getting paid.  Take, as an example, a human service provider agency funded primarily with state grants throughout its entire history, whereby if they spent $1 on providing approved services, the state would…

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