Financial Planning Archives - Conway Center for Family Business

Financial Planning

Audit Requirements for Defined Contribution Plans are Changing

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There is some exciting news, especially for smaller plan sponsors of defined contribution plans. The Department of Labor (DOL) has revised the Form 5500 and instructions for 2023, bringing about a substantial change in the criteria used to determine the requirement for an audit. Updates to Participant Count Methodology  Employee benefit plans that filed as a large […]

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Columbus-Franklin County Small Business Recovery Fund

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Opportunity for our small- sized family-owned businesses: The Columbus-Franklin County Small Business Recovery Fund will offer $8 million dollars in grants to small businesses specifically impacted by COVID-19. These grants are intended to help those in underserved communities, minority-owned businesses, disadvantaged businesses, and veteran-owned businesses. The program’s purpose is to protect our small business economy and also

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Conway Center's Jill Hofmans and Mike Schoedinger join Succession Stories Podcast

Conway Center Featured in ‘Succession Stories’ Podcast

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Laurie Barkman, host of ‘Succession Stories’ was joined by Jill Hofmans, Executive Director of the Conway Center for Family Business, and Michael Schoedinger, President of Schoedinger Funeral and Cremation Service, a 6th generation company, to talk about succession planning from two key standpoints: leadership and financial succession and innovating as a legacy business. Key Takeaways

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Financial Freedom: Building Wealth to Live the Life You Love

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Article Provided Courtesy of Michael Beers, Financial Advisor, Senior Vice President, Morgan Stanley What does financial freedom mean to you? For some, it is synonymous with financial security. But, for others, the definition of financial freedom goes beyond money to include living with purpose, cultivating a healthy mind and spirit or being able to pursue

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Your Responsibilities as a Retirement Plan Sponsor

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A recent study revealed that more than six in 10 U.S. households reported that they had employer-sponsored retirement plans – that is, they had assets in Defined Contribution (DC) plan accounts, were receiving or expecting to receive benefits from Defined Benefit (DB) plans, or both.*It’s no wonder there are strict laws governing retirement savings plans.

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Planning for the Unexpected: Protecting Yourself and Your Family with Estate Planning

Financial Planning, Succession Planning, Wealth Transfer / By

For many of us, estate planning is something we know we should do but often manage to postpone until some indefinite time in the future. But, putting off this part of your financial life could mean passing over an opportunity to preserve the lifestyle you’ve worked so hard to create and to dictate your legacy

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7 in 10 Advisors Say Navigating Interfamily Dynamics is the Hardest Part of Estate Planning

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Seven In Ten Advisors Say Navigating Interfamily Dynamics Is The Hardest Part Of Estate Planning For HNW Families Key Private Bank’s Advisor Poll found that having no plan in place is the leading estate planning mistake Key Private Bank, the wealth management arm of KeyCorp (NYSE: KEY), released the results of its latest advisor poll,

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Tax Season

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Some reminders and tips on how to help protect yourself from identity theft this tax season from Conway Center Service Provider Gryphon Financial Partners. Do not respond to emails or phone calls from individuals or companies pretending to be the IRS especially if they exhibit threatening tones. The IRS does not call or email. They

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Want to Keep More of Your Investment Returns? Consider These Moves

Blog, Financial Planning, Succession Planning, Taxes, Wealth Transfer / By

Taxes can shrink your realized returns from your investment portfolio, and yet, most investors don’t have a strategy in place for tax-efficient investing. Comprehensive tax reform passed late last year means many taxpayers are now in a lower tax bracket and will see higher take-home pay. Still, because of the tax law’s cap on state

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Boosting Participation in Your Company’s 401(k) Plan

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Boosting Participation in Your Company’s 401(k) Plan One rule of retirement investing is the earlier you start and the more you put away, the more you will potentially have for your later years – but convincing younger employees to make larger deferrals is not easy. You’ve probably seen the statistics touting the impact of steady

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