LEGAL ASSISTANT WANTED

If you are:

·      HIGH ENERGY

·      ORGANIZED

·      TRUSTWORTHY

·      PEOPLE ORIENTED

·      EXPERIENCED IN SALES OR CUSTOMER SERVICE

Then you might be the legal assistant we’re looking for at Clint Sellers PLLC in Harrisonburg, Virginia.
If you possess these qualifications, please call 877-840-3273 today and answer the questions.

Many large companies today have simply announced that as a matter of policy they will be paying their bills late—sometimes as much as four months late,” [Jeffrey] Leonard notes.  “This in effect forces small businesses, which really are hurting, to make free loans to big businesses instead of being able to use their working capital.”  Experts say small-business owners can
respond with a variety of steps, beginning with examining cash-flow options.

The first step [John] Barrickman recommends to small-business owners is to determine the
total amount of their uncollected accounts receivable: “This represents a large lake in which huge amounts of cash can be trapped.” The next step is to examine processes for managing cash.

“Can you use bank tools like lockbox, remote capture and electronic payments to process receipts and collect receivables faster?” Barrickman asks. “Banks offer a broad range of treasury management tools that small businesses can use to increase their available cash.”

Also take a close look at the flip side: your accounts payable. Lisa Aldisert, the president of Pharos Alliance Inc., a New York City management consulting firm, encourages clients to revamp their payables procedures in order to hold on to cash longer.

Factoring as an option

One option that many cash-starved small businesses are considering to help ease the cash-flow crunch is an alternative financing vehicle known as factoring.

With factoring, businesses sell their outstanding accounts receivable to a commercial finance company (or factor) at a discount. “Instead of waiting up to 90 days or longer to get paid, the business receives most of the cash—typically 70 to 90 percent of the receivable—when the invoice is generated,” says [Tracy] Eden. It receives the balance, less the discount, when the factor collects the invoice.

Eden explains, “The improved cash flow derived from factoring benefits a company’s relationships with vendors, enables additional growth and helps ease the demands on payroll.”

Factoring resources

• International Factoring Association (www.factoring.org): This website includes a Factor Search page to help you locate an IFA member that matches your criteria.

• American Factoring Association (www.americanfactoring.org): AFA educates the public and policymakers on the availability of working capital for America’s small businesses.

• Commercial Finance Association (www.cfa.com): Since 1944, the CFA has promoted the sound development of asset-based financial services including factoring; it publishes The Secured Lender magazine.

The Wall Street Journal reported that the IRS has claimed in court filings that the noncompliance rate in Virginia is 90%.

Bankrate.com explains why if you need to leave your home vacant or unoccupied for an extended period, the best course of action is to contact your insurance agent and explain the situation.

As the housing market continues on life support, some homeowners with hard-to-sell properties choose to move on, whether to pursue a new job, downsize or simply relocate. But it’s very risky financially to leave your home vacant unless you adjust your homeowners insurance accordingly.

Your home insurance rates are usually based on you occupying your home, and for good reason. Without you at home to call 911, deter burglars and vandals or stop a minor leak or electrical short from becoming major, your home insurance company would assume additional risk.

That’s why most home insurance policies contain a vacancy clause that automatically changes or excludes coverage should the home become vacant (residents and belongings gone) or unoccupied (residents gone, belongings remain) for a specified period, often 60 days.

“Some insurers may not pay claims if a home is vacant for 60 days or more. Some policies might automatically shift to a different amount of coverage (e.g., liability insurance only) after a specific number of days unoccupied,” according to the National Association of Insurance Commissioners.

If you need to leave your home vacant or unoccupied for an extended period, the best course of action is to contact your home insurance agent and explain the situation. Many insurance companies offer an endorsement to your policy that will cover a vacant dwelling for an extended period. You also may obtain vacancy coverage for specified periods up to a year.

No surprise, it’s going to cost more than your current homeowners insurance rates. But it’s a small price to pay compared to the major expenses you’d face if something happened to your house while you were away.

Although the study does not address causes of disorders, the findings could reflect a severe underestimate of its prevalence in the U.S. and elsewhere. “This study clearly confirms that autism is a significant, global, public health concern that transcends cultural, ethnic and geographic boundaries. We do need to do this type of study in the U.S.,” said Geraldine Dawson, chief scientific officer of the advocacy group Autism Speaks.  The study was funded in part by Autism Speaks.

More details here: http://bit.ly/mL4045

1. Anyone with control over the administration of a retirement plan or the investments offered in the plan;
2. A person or group of people, such as an administrative committee, specifi cally named as a fi duciary in the plan document; or
3. Anyone who gives investment advice for a fee.

If you are a fiduciary, you need to know your duties under ERISA, the penalties if these duties are not met and how to protect yourself from liability.  The Employee Retirement Income Act of 1974 (otherwise known as ERISA) governs the management of retirement plans.  Although companies can and often should consider hiring others to manage these plans for their employees, it is not possible to fully delegate all responsibility for appropriate management of such plans.  There are basic requirements that must be met which will always be the employer’s responsibility — requirements such as diversification within the plan.

It Only Takes One Employee to Create Big Problems for Your Plan… and Your Company

Pursuant to federal law, all retirement plan fiduciaries must: act with loyalty to the plan, act prudently, diversify the investment options within the plan, act according to the plan terms, and follow the disclosure requirements (including fees related to the plan).  According to surveys, as much as 70 percent of participants think that they’re paying nothing.  There is an assumption within the investment industry that all plan statements beginning in January of 2012 will fully disclose ALL costs paid by that participant (in percentage terms and possibly in dollar terms as well). When employees learn that as much as 3% of their account value is paid to the plan only one disgruntled employee can cause a great deal of compliance activity and cost for a business owner.  See this link for more information.

What to Do

In addition to knowing what is required and the penalties for noncompliance, fiduciaries can and should take practical steps to demonstrate their compliance and protect themselves and plan participants.  These steps include: availing themselves of the “safe harbor” provisions in ERISA, writing an investment policy statement, tracking plan expenses and routinely reviewing the operations of the plan.  Your company’s business lawyer can help you with compliance issues and finding a professional investment advisor to assist you.