Articles Tagged ‘Indiana small business’

Asset Inventory – 6 Times Business Owners Benefit

Monday, July 25th, 2011

Small business owners are known for juggling projects, doing multiple tasks at the same time and rarely having enough time in the day to do everything they know they should do. This results in many items getting placed on a to-do list that rarely receives attention. An asset inventory is one of those tasks.So why should a business owner have an inventory of all the personal property they own?

1. Be Properly Insured

As the business grows, you often add assets without paying much attention. A laptop here, a new printer there and before you know it, you’ve increased the value of your assets. There are a large number of desks, chairs, printers, cameras, file cabinets – the list goes on – that are expensed. This means they aren’t on a depreciation schedule; therefore, these purchases aren’t listed anywhere.Creating an inventory list and updating it annually or as you purchase items will help make sure you are properly insured. The asset list will show you the value of your personal property, thus knowing how much your insurance coverage should be.

2. Recover from a Disaster Quickly and with a Maximized Claim Settlement

Your asset list helps you remember what you owned (and the photos will prove ownership), thus assists you in filing a maximized claim. Since you already have this list, you’ll be able to file your claim quickly. This enables you to purchase new furnishings and equipment quickly so you can get back to doing business.

3. Storage – Prevent Duplicate Purchases
If you don’t have a list of the items in storage, you’ll most likely forget what you own. This can cause duplicate purchases, resulting is unnecessary expenses. A business owner purchased over $2000 worth of furniture, only to find that he had the exact same items in a storage facility. Your inventory list will prevent these unnecessary expenditures.

4. Personal Property Tax Return

Unfortunately, many business owners guess at the number they report on their personal property tax returns. read full article »

  • Twitter
  • LinkedIn
  • Digg
  • Technorati
  • Facebook
  • del.icio.us
  • StumbleUpon
  • Google Bookmarks
  • email
  • RSS
  • FriendFeed
advertisement

Press Release: Education Series to Focus On Pension Sustainability & Costs

Monday, May 9th, 2011

(Indianapolis) – Nyhart, one of the nation’s largest independent actuarial and employee benefits consulting firms, has announced an educational series for CFOs and defined benefit plan sponsors in government and private businesses who currently offer pension benefits. Actuaries will teach pension plan sponsors on the ongoing expenses and costs of defined benefit plans

The series of three seminars, available both as a webinar and in-person as Nyhart’s headquarters in Indianapolis, will be geared to highlight how ongoing regulatory changes and financial factors are impacting the viability of pension benefits.

Sustainability of Costs in Public Pension Plans
Thursday, June 16 at 11 a.m., featuring Actuary Heath Merlak

The liability in public pension plans keep increasing while the government entity supporting the plan is not. With most public pension plans currently underfunded and operating budgets feeling pressure, where are these plans headed? Will costs continue to rise? Will benefit promises need to be revised?

High Pension Costs: When and Where is the Peak?
Thursday, June 23 at 11 a.m. featuring Actuary John Dowell

For private pension plans that must comply with the funding rules introduced by the Pension Protection Act of 2006, investment performance and interest rate levels drive the contribution requirements. The collapse of the stock market in 2008 has been followed by extremely low interest rates in 2009 and 2010, increasing costs in nearly all U.S. private pension plans. How high will they get and when will we get over the hump?

Managing a Frozen Pension Plan – Should Our Strategy Change?
Thursday, June 30 at 11 a.m. featuring Actuary John Dowell

Once benefit accruals are frozen in a pension plan, the game is changed. The indefinite horizon becomes finite. If plan termination is the ultimate goal, the desired horizon is likely five years or less. Should strategic changes be made given this reduced timeframe?

Individuals interested in attending the events in person or via webinar may contact James Burnes at connect@nyhart.com to be added to the invitation list. There is no cost to attend the program. Seating is limited.

  • Twitter
  • LinkedIn
  • Digg
  • Technorati
  • Facebook
  • del.icio.us
  • StumbleUpon
  • Google Bookmarks
  • email
  • RSS
  • FriendFeed
advertisement