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Healthy Growth Blog

Got Leases? Get Ready.

If you thought it was time to relax as summer winds down, guess again. It’s time for privately held businesses to get ready for the new accounting guidance for leases.  A lease liability for all future lease payments will be recorded for all leases under the new lease accounting guidance, even operating leases for buildings, cars, equipment – any leased asset. At its highest …

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New Accounting Standard for Leases (ASC Topic 842)

Effective Date for Private Companies and Most Nonprofit Organizations  In February 2016, the FASB issued Accounting Standard Update 2016-02 Leases (Topic 842) after many years of deliberation. The new accounting standard fundamentally changes accounting for leases, with the biggest impact on lessees – entities that lease property, equipment, and other assets. The new standard has been in effect for publicly traded companies since 2019. The FASB delayed the effective date …

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Leadership Styles: Transactional vs. Transformational

Although transactional and transformational leadership are quite different approaches to leadership, comparing the two is not a question of good vs. bad or right vs. wrong. Both offer advantages in certain situations, and while you may naturally gravitate toward one style, understanding both and knowing when to utilize their strategies can make you an even stronger leader.

Effective Feedback – Giving it, Asking for it, Receiving it

Providing feedback can be difficult, especially when you are concerned that it might not be well received. Similarly, asking for feedback can feel uncomfortable and cause some initial anxiety. However, feedback is an essential part of professional development that when given and received effectively can result in personal growth, improved performance, and strengthened relationships.

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The Death of the To-Do List – Why Your Calendar is the More Powerful Tool

Most of us have been taught to keep a to-do list for our tasks and projects, and our calendar for meetings and appointments. With a to-do list, certain items can get constantly pushed back for more “urgent” items in the moment. Often, at the end of the day we find that the list of uncompleted tasks has gotten longer, not shorter. Then, we have this feeling that we can never get enough done, resulting in guilt and stress.

But what if you instead used your calendar to schedule everything, including those to-dos? Have you ever heard someone say, “Hang on, let me check my to-do list.”? Putting something on your calendar is making a true commitment to it.

Practicing Authentic Leadership

It has become too common that we try to come off a certain way at work, or as leaders, feel pressure to “match” our personality to the role. As a result, we often feel depleted, begin losing interest in our work, and fail to genuinely connect with our teams.

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Proposed Law Changes Impacting Estate and Gift Tax Planning

Between the Biden Administration’s American Families Plan and the proposed “For The 99.5 Percent Act,” several potential changes could have a significant impact on estate and gift tax planning opportunities. Many iterations and changes will likely occur before these changes are finalized. However, planning should be happening now based on the below changes being considered. All comparisons below are based on 2021 individual limits.

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Our Role as Business Leaders in Our Community

We have all heard the old saying that time is the most valuable commodity. As a leader, it can often feel as though our plates are so full that we have little time for anything else. However, I encourage you to consider the value of becoming an active leader in your community.

The benefits of supporting the community not only come to the organizations you support, but also to you, your employees, and your organization as a whole.