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Policy Template

If you have been following my work, you know that I have a lot to say about policies. I have variously suggested that you review a third of your policies each year, that you have a method for monitoring compliance with your policies and that you have consequences if the policies are not followed. I […]

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Definition of ‘Active in the Business’

The July 18 proposals have finally been explained in a little more detail. This tip is about the criteria for a family member to be considered to be “active in the business.” The concept of “active in the business” has been defined to mean 20 hours of work done for each week that a business […]

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Are Any of Your Organizations Directors Overboarded?

Overboarding occurs when a director serves on more boards than they can adequately handle. Admittedly, the term comes up more with the publicly traded corporations. The risks of overboarding are that your directors may face competing commitments which causes them to miss meetings or to be less well prepared for the meetings that they attend. […]

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Year-End Stuff To Do

Today is the first business day of 2018 for many businesses. Are there year-end tasks to accomplish? The most time sensitive tasks involve inventory and getting the odometer reading on any vehicle used for business. Businesses that have not incorporated, known as proprietorships or partnerships, have a December year-end. Many other businesses have December year-ends, […]

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How to Rebuild Trust

As we start a new calendar year we should be making plans. Does your group need a plan to rebuild trust? The concept of trust comes up again and again when we are talking about governance. I have said that trust takes years to build but can be gone in an instant. I am not […]

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Painless Financial Training Group Inc. with Debi Peverill

Understand Financial Stuff, Painlessly