At Machen McChesney we are committed to Returning Value to you through our monthly e-newsletter, The Value Report.
Here you'll find regular tips to help with your business and personal finances, as well as strategies to grow and more efficiently run your organization.
Table of Contents
- Weighing In on Hardship Distributions
- Four Reasons Why Nonprofits Should Double Down on Their Measurement and Monitoring Programs
- Take Tax Credit for Making History
- 3 Tips for Improving Financial Practices for Long-Term Sustainability of Your Restaurant
Weighing In on Hardship Distributions
If you have been able to build up a sizable fund in a 401(k) or other qualified retirement plan, you have a good head start on a nest egg for retirement. Sometimes, however, extenuating circumstances may force you to tap into your account prematurely. Specifically, you might apply for a “hardship distribution” when the plan permits it. Although you may decide this is your best option, consider all the implications. Continue reading.
Four Reasons Why Nonprofits Should Double Down on Their Measurement and Monitoring Programs
More nonprofits are waking up. From stringent regulations and government scrutiny around tax-exempt status and grant compliance to increasingly intense competition for funds, organizations of all shapes and sizes are realizing the need to implement strong measurement and monitoring programs. Here are four specific reasons why nonprofits should double down on these programs. Continue reading.
Take Tax Credit for Making History
A real estate owner may be contemplating the renovation of an older building in a historic part of town or a place that otherwise has historical implications. Fortunately, federal tax law provides some incentives. Before you start tearing down walls and putting up a new façade, follow the steps for having the building certified as a historic structure. The payoff is a tax credit—a dollar-for-dollar reduction of your tax bill—equal to 20% of the renovation costs. Continue reading.
3 Tips for Improving Financial Practices for Long-Term Sustainability of Your Restaurant
A well-managed restaurant doesn’t always guarantee a sound business strategy, but approaching restaurant management with a focus on facts, figures and the future can help in achieving long-term success. When it comes to running your business, financial modeling and long-term planning often get lost in the shuffle of day-to-day troubleshooting and management responsibilities. Here are three tips to keep in mind when developing your financial model. Continue reading.
We hope you found value in The Value Report you've received this month. We look forward to finding even more ways to Return Value to you in the future.
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Machen McChesney