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The New York legislature failed to pass legislation that would have prohibited the sale of portions of a museum’s collection and use the sales proceeds to fund operating expenses last August. This was reported in the New York Times this time last year and now a year later provides me the opportunity to discuss the dilemma of generally accepted accounting principles and the law.
In 2010, former Red Sox pitcher Curt Schilling moved his 38 Studios to Rhode Island from Massachusetts. Losing the video game production company to its neighbor to the south was considered a “Strike Out” by the Commonwealth state. The company plans on bringing hundreds of jobs to Rhode Island by the end of 2012. Ouch! It was a high profile economic loss for Massachusetts.
Borrowing is not available for traditional IRAs, Roth IRAs, SEPs, or SIMPLE IRAs. However, if you participate in a qualified retirement plan through your job or self-employment, such as 401(k), profit-sharing, or Keogh plan, you might be able to borrow some of the funds in your account.
KLR is proud to be named a Top Firm in New England, with our ranking of #4 in the New England Region. KLR climbed a few spots with region-leading growth of 7 percent.
On June 8th I was part of a panel discussion regarding various topics in Business Valuation. Unfortunately we were unable to cover one section of particular interest which discussed the common mistakes in business valuation. Here’s a list of some issues we’ve seen that can raise a red flag about a practitioner’s qualifications:
Robert D'andrea to Serve on American Red Cross Rhode Island Chapter Board
The Massachusetts Attorney General has come out against compensation to trustees of all nonprofits, including foundations that are registered in the Commonwealth. Although lawmakers in the state voted in May 2011 to ban payments, the proposal did not pass as part of the budget bill.
Anthony Mangiarelli Named to 40 Under Forty
It seems like every day there is an event, whether domestically or internationally, that has an impact on the world economy. Whether it’s earthquakes in Japan, uprisings in the Middle East, or floods in the heartland of the country, there always seems to be something happening that potentially will have an impact on your business. Knowing what’s coming next is certainly not something you have the ability to predict, but having a plan in place BEFORE it happens will make responding to it a lot less painful.
There is a disturbing trend in America to create new regulations whenever problems are encountered. New regulations are easier than enforcing current regulations or otherwise addressing the problem.
