Manage health benefits costs with a multipronged approach

For business owners, it may seem impossible to control health care benefits costs. The trick is taking a multipronged approach. For example, don’t rely on vendor-provided communications: Actively interact with employees. Use metrics to analyze benefits utilization and identify utilization gaps where you may be losing money. Engage an outside expert to conduct an ROI…

Use benchmarking to swim with the big fish

Benchmarking can help your company swim with the big fish without getting gobbled up. It’s the practice of comparing your performance to that of similar businesses to identify strengths and weaknesses. Quantitative benchmarking uses key performance indicators (formulas or ratios) to calculate comparisons. Meanwhile, qualitative benchmarking compares operating practices (such as production techniques, quality indicators…

Only certain trusts can own S corporation stock

S corporations must comply with strict requirements or risk losing their tax-advantaged status. In an estate planning context, it’s critical that any trusts that will receive S corporation stock through the operation of your estate plan be eligible shareholders. Potentially eligible trusts include grantor trusts, testamentary trusts, QSSTs and ESBTs. If you have S corporation…