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2008

How Do You Spell “SUCCESS”? 3 Hallmarks of a Profitable Business - March 2008
Every business owner wants his or her company to succeed. Whether one leads a startup or a generations-old enterprise, it’s an easy (and obvious) thing to wish for. But what are the hallmarks of a successful company? This article names three: strong revenues, low production costs and minimal operating expenses.

Risk Management: Buy-Sell Agreements Protect Companies From Themselves - March 2008
When business owners speculate about threats to their companies, they often overlook the human beings sitting next to them in the boardroom. An unanticipated ownership change can cripple a company’s ability to make executive decisions. One wise risk management move is creating and maintaining a buy-sell agreement. This article explains why.

Reverse Mortgages Grow in Popularity & Availability - March 2008
In the past year or so, the word “mortgage” has usually raised negative connotations. Put the word “reverse” in front of it, however, and suddenly you’re referring to one of the more positive personal financing developments in recent memory. The cause of this surge is twofold: Reverse mortgages are more popular, no longer appealing only to those desperate to cover medical expenses, and they’re more available, as more lenders leap headlong into the market.

Moneylines: News Briefs for Businesses and Individuals - March 2008
This section offers four news briefs about: 1) A recent survey indicating that many businesses lack formal tax risk management strategies, 2) The traits and methods of identity thieves, according to a recent study based on Secret Service data, 3) How e-mail volume for corporate users is expected to rise to flood-like proportions in the near future, and 4) The results of a recent study indicating that baby boomers may not be as ill-prepared for retirement as previously thought.

Practical Perspecties: Key Financial Issues for You and Your Family - March 2008
In this month’s Practical Perspectives, we meet newlyweds Nathan and Penelope, who recently decided they needed a financial advisor. With successful careers and a beautiful home, they had a lot to lose: If one of them died prematurely, the survivor might not be able to pay the mortgage. Among the first topics they discussed with their CPA were the two fundamental types of life insurance: term and permanent.

Looking For a Successor? For Best Results, Keep an Open Mind -- February 2008
For many business owners, among the hardest aspects of retiring (or otherwise moving on) is choosing a successor. Many, if not most, have a few viable candidates to consider — often too few. This article recommends that, when looking for a successor, business owners keep an open mind and take a close look at all options, including family members, nonfamily employees and external candidates.

Qualified Plan Loans : What You Don't Know Can Hurt You -- February 2008
Among the risks of offering workers a “qualified” retirement plan (one that follows certain rules to qualify for beneficial tax treatment), such as a 401(k), is that the arrangement may allow participants to take loans from their accounts. Although employees often appreciate this feature, taking out a qualified plan loan can get workers into trouble — and hurt their companies as a whole. This article gives an overview of how qualified plan loans work for employers who may not be fully aware of all the risks involved.

5 Easy Steps to Creating a Financial Disaster recovery Plan -- February 2008
Whether a massive flood that affects thousands or a sudden illness that affects only one person, should disaster strike, an individual’s financial solvency could very well depend on whether he or she has a clear strategy in place for paying the bills. This article offers five easy steps to creating a financial disaster recovery plan.

Moneylines: News Briefs for Businesses and Individuals -- February 2008
This section offers four news briefs about: 1) A recent survey indicating that many companies are still ill-prepared for a technological disaster, 2) How the IRS has recently adjusted the allowable living expense standards that help determine how much delinquent taxpayers must pay, 3) The results of a recent survey revealing that many workers intend to delay their retirements, and 4) Why the beginning of the year is a great time to contribute to a traditional or Roth IRA.

Comparing Coverdell ESAs with 529 Plans Practical Perspectives: Key Financial Issues for You and Your Family -- February 2008
In this month’s Practical Perspectives, we meet Floyd, an investment analyst, and Marietta, an educational researcher — a married couple with a five-year-old son and a newborn daughter. Like many parents, they’d heard and read plenty about 529 plans, but they wanted to know whether there were any other college funding alternatives worth considering. They visited their financial advisor, who explained one potential option: the Coverdell Education Savings Account.

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