Attorneys and consultants who work with associations see their share of troubled boards of directors. In fact, I believe that troubled boards outnumber focused efficient boards by a substantial margin. Notwithstanding their problems, most boards seem to get by, although they could be better.

According to CCH, the Internal Revenue Service Chief Counsel has concluded that qualified restaurant property and qualified retail improvement property are eligible for fifty percent bonus depreciation in both 2008 and 2009.

A 1031 construction exchangeenables the taxpayer to defer federal and state capital gains and recapture depreciation taxes on the sale of existing property, and construct improvements to a replacement property.

I had the opportunity to travel throughout the States in November and December. I visited a lot of restaurants, seeing not only good things and good people but also operational issues that result in leaving dollars on the table. These are things that slice revenues and generate more expenses for a business.