Leave Your ‘LOLs’, Hashtags And Ego At Home

Some people are just not good communicators, which is a trend that seems to be getting worse as more and more people text or use social media as their communication methods of choice. While these may be great ways to connect with family and friends, as a professional you owe it to yourself and your … Continued

There’s No ‘I’ in Team

Unless you’re a sole practitioner in your trade, you probably have co-workers whom you work with. Some co-workers may be easier to work with than others, but that doesn’t matter. It’s critical to any organization that everyone work together as best as they can. Any business will benefit when their employees work together to achieve … Continued

What to Expect in an Employee Benefit Audit

The starting point to hiring an auditor is the engagement letter, which serves as your contract. The engagement letter describes the audit work to be performed, the timing of the audit and the fees. The letter will also outline your responsibilities as the plan’s administrator as well as those of the auditor. When the audit … Continued

Do You Know What Your Retirement Plan is Costing You?

As a retirement plan fiduciary, you have an obligation to consider the fees incurred by the plan. Do you know the true cost of your retirement plan? And do you know if those costs are reasonable? Higher plan fees can make a significant impact on the growth of retirement accounts. Consider this example cited by … Continued

More People Raiding Their 401(k)s, But Pay A Price

A recent study by Bankrate found that nearly one-fifth of full-time employed Americans have raided their retirement accounts in the past year to cover emergency expenses. These results match a Fidelity Investments study last year that reported the number of workers borrowing against their retirement accounts had reached a 10-year high. Given the financial stress … Continued

Use of Business Ratios

Your business’s financial numbers provide a wealth of information and you need to use this information to assess how your business is doing. Current financial information can be compared to historical information of the business or compared to others in the same industry. Key Business Ratios There are primarily four categories of business ratios: Liquidity … Continued

Advice for Family Businesses

Did you know that research shows that young men and women today will likely have more spouses than children? Unfortunately, that could have a huge impact on your family business. Most people do not like to discuss these issues due to the sensitivity of their nature, but these are issues that need to be considered. … Continued