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Cross-functional teams can boost collaboration — and sales
“Cross-functional” sales teams that collaborate with other departments often perform more effectively than siloed ones. By providing feedback and support, employees with varied skill sets and knowledge bases can help your sales team create more holistic sales strategies, better align product offerings with customer needs and efficiently adapt to market changes. Here’s how sales can…
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How nonprofits can better engage members and encourage renewals
These days, many people are evaluating recurring expenses and deciding which memberships deserve a place in their budgets. At the same time, members increasingly expect personalized experiences, flexible engagement options and clear value from the organizations they support. If renewals are slowing at your nonprofit, it’s time to strengthen your retention strategy. Learn what today’s…
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Considering layoffs? Try these alternatives first
It’s every business owner’s least-favorite task: laying off staff. But sometimes, layoffs are unavoidable. Labor costs are a significant line item on most companies’ income statements, and reducing your workforce can potentially help restore stability if your business hits choppy waters. On the other hand, many costs are associated with staff reductions. These include severance…
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Does your nonprofit need a CFO?
Most nonprofits begin with a deep commitment to serving a mission — not a love of financial management. Yet as organizations grow, financial oversight becomes increasingly complex and critical. This often leads to an important question: Is it time to hire a chief financial officer (CFO)? The answer depends on your organization’s size, structure and…
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Caution is required when addressing a gun collection in your estate plan
For many, the primary reason for creating an estate plan is to ensure their assets are passed on to family members according to their wishes. But when it comes to estate planning, not all assets are created equal. One asset type that can be tricky to transfer to beneficiaries is firearms. According to a Pew…
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Business owners: You don’t need a crystal ball to see the future, just your CPA
Financial statements report historical financial performance. But sometimes management or external stakeholders want to evaluate how a business will perform in the future. Forward-looking estimates are critical when evaluating strategic decisions, such as debt and equity financing, capital improvement projects, shareholder buyouts, mergers, and reorganization plans. While company insiders may see the business through rose-colored…
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Are you and your spouse considering splitting gifts?
The gift tax annual exclusion allows you to transfer up to $19,000 (for 2026) per beneficiary gift-tax-free, without tapping your $15 million (for 2026) lifetime gift and estate tax exemption. You can double the exclusion amount if you elect to split the gifts with your spouse. Gift-splitting in a nutshell Gift-splitting allows married couples to…
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Better billing practices are only an easy assessment away
Efficient, accurate billing practices are critical to your business’s financial health. Billing errors or delays can lead to revenue leakage, cash-flow shortages and customer attrition. If your company is struggling with billing issues — or it’s been a while since you evaluated this function — now’s a good time to review your processes and make…
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Business deductions for four-legged coworkers
Did you know that you can claim tax deductions for animals that serve a bona fide business purpose? This benefit extends beyond agricultural operations. Working animals in many sectors may qualify. Here are the details. Working animals vs. personal pets A working animal must provide a clear and direct business benefit. Common examples include: Dogs…
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Business deductions for four-legged coworkers
Did you know that you can claim tax deductions for animals that serve a bona fide business purpose? This benefit extends beyond agricultural operations. Working animals in many sectors may qualify. Here are the details. Working animals vs. personal pets A working animal must provide a clear and direct business benefit. Common examples include: Dogs…
