Legacy Professionals LLP

Retirement planning has always been a critical aspect of personal finance, but recent changes to retirement-related legislation have altered how employers and employees approach long-term savings. The SECURE Act 2.0, signed into law in December 2022, builds upon the original SECURE Act passed in 2019, introducing new provisions that aim to improve the retirement security of American workers. This landmark legislation affects employers and employees, focusing on expanding access to retirement plans, increasing contribution limits, and offering more flexibility in managing retirement savings. For employees, SECURE Act 2.0 promises to reshape their retirement preparation by providing more opportunities to save and a broader range of options for their financial futures. The goal of SECURE Act 2.0 is to encourage employees to save more for retirement, help those who may have been excluded from retirement plans, and make navigating the complexities of retirement savings easier. While many o...

The Foundation of Effective Governance In the world of nonprofit organizations , the role of the board of directors is indispensable. A well-functioning board provides strategic guidance, oversight, and accountability, all of which are crucial for the organization’s long-term success. At the core of an effective board is its independence. When the board is independent, it ensures that decisions are made in the best interest of the nonprofit, free from conflicts of interest or undue external influence. This independence serves as the foundation of strong governance, helping the organization stay aligned with its mission and goals. Defining Board Independence Board independence means that the members of the board are free from relationships that could compromise their objectivity in decision-making. Independent board members do not have a financial stake in the organization, nor are they involved in day-to-day operations. This ensures that their decisions are made based solely on the non...

Nonprofits thrive when supported by strong governance, transparent leadership, and a commitment to long-term sustainability. Independent boards play a crucial role in ensuring accountability, while effective leadership drives strategic growth. A well-balanced partnership between the board and executive leadership fosters collaboration, leading to sound decision-making. Transparency and ethical governance build trust with donors and stakeholders, reinforcing an organization’s credibility. Sustainable growth requires ongoing adaptation, innovation, and a clear vision. By strengthening these core elements, nonprofits can enhance their impact, navigate challenges, and remain resilient in a constantly evolving landscape.    1. The Importance of Independent Boards in Nonprofit Success   Independent boards play a critical role in ensuring nonprofits operate with integrity and accountability. By making objective decisions without undue influence from internal stakeholde...

In a highly competitive job market , retaining top talent in the accounting industry is essential for sustained success and growth. With changing industry demands, advances in technology, and shifting client expectations, accounting firms must be proactive in creating environments that attract skilled professionals and ensure they stay long-term. By implementing strategic approaches to employee retention, accounting firms can secure a loyal and effective workforce that drives business success. This article explores several key strategies firms can use to retain their best employees. Offer Competitive Compensation and Comprehensive Benefits Compensation remains one of the most critical factors in retaining employees. Top accounting talent expects a competitive salary that reflects their skills, experience, and the value they bring to the firm. To stay ahead of the competition, firms must offer an attractive base salary and performance-based incentives such as bonuses or profit-sharing o...