What these stories have in common is a mindset that continues to drive our organization: Your future is limitless. When we work together to create positive change, overcome challenges, and explore what’s possible, there really isn’t any goal we can’t achieve.

Explore Limitless Magazine

The post LIMITLESS Magazine appeared first on MassBio.

Navigating year-end financial planning for your stock compensation can be quite a challenge, particularly when set against the backdrop of ongoing market turbulence. The past two years have seen headlines dominated by concerns over inflation, interest rates, and the roller-coaster ride of the stock market. The pressing question on everyone’s mind is whether this will change for the better in 2024. It’s a question without a clear answer, yet we understand that markets, in their efficiency, tend to find their balance over time, ultimately leading to recovery.
Given the uncertainty, let’s explore the crucial aspects you should consider in your year-end equity compensation strategy:

1. Prioritize Your Goals: Instead of letting taxes dictate your actions, make your financial goals the cornerstone of your decision-making process. Consider whether you’ll need to allocate company stock toward a financial goal in 2024, especially if you anticipate higher income due to substantial Restricted Stock Unit (RSU) vesting. If the answer is yes, consider exercising options in 2023 to shift income to the current year.
2. Create a Multi-Year Strategy: You may want to consider optimizing your various equity grants with a multi-year strategy that helps mitigate higher taxes and helps enhance the long-term value of your equity. Review vesting schedules for RSUs, restricted stock, and stock options, and assess the likelihood of substantial performance share vesting in 2024 based on your performance targets. 
3. Leverage Tax-Loss Harvesting: In a bear market, consider selling company stock at a loss and repurchasing it after 30 days to avoid the wash sale rule. Recognizing capital losses in 2023 can yield benefits in future years, potentially reducing your tax liability on capital gains.
4. Prepare for Job Changes: If you’re expecting a job change at the beginning of the year, conduct a pre-year-end review. Determine which grants will vest before your departure and be ready to exercise options after leaving the company if necessary. Estimating your 2024 income might lead you to accelerate income by exercising non-qualified stock options or selling low-cost basis company stock in 2023.
5. Embrace Charitable Giving: Consider donating company stock instead of cash, especially if you own highly appreciated stock. Donating stock to a charity grants you a tax deduction for the full market value while allowing you to support a cause close to your heart.
6. Consider ISO Planning: Incentive stock options (ISOs) offer unique tax treatment. To enjoy preferential treatment, you must hold the stock for two years from the grant date and one year from the exercise date. Careful planning is key. Here are a couple of ideas to consider:

• Exercising ISOs at the start of the year can kickstart the holding period for long-term capital gain treatment. Consider selling the stock before year-end to eliminate your AMT liability, especially if your company’s stock price has dipped. This is called a disqualifying disposition, and you will pay ordinary income taxes instead.
• In the current volatile market, you may have an opportunity to exercise more ISOs without triggering the AMT.

7. Seek Professional Guidance: Navigating the intricate world of equity compensation tax implications and strategies is no easy task. Always consult a tax accountant and financial advisor to devise the best strategy tailored to your unique situation.

The year 2023 may hold its challenges, but with the right strategy and guidance, you can steer your equity compensation toward success in the year ahead.

This material is intended for informational/educational purposes only. Commonwealth Financial Network® and Freedom Trail Financial does not provide legal or tax advice.

The post Embrace the Challenge: Your 2023 Year-End Equity Compensation Checklist appeared first on MassBio.

Introduction: In this whitepaper, our exploration is centered on NLP and knowledge graphs and how their combined prowess can streamline clinical trial design to potentially expedite the drug development timeline.  

Link: https://bit.ly/3R3dOdR

The post Revolutionizing clinical development: driving efficiencies through knowledge graphs and NLP appeared first on MassBio.

Many sites, sponsors, and CROs implemented new digital tools on the fly, sometimes without solidifying longer-term data and technology strategies. But emerging approaches in clinical trial design and execution offer solutions, potentially increasing the probability of a therapeutics’ approval while improving participant experience. 

Explore this research-backed MedTech Dive studioID Industry Outlook report to learn:

• Innovative clinical trial designs and protocols 
• Regulations impacting technology adoption and use
• Strategies for building more efficient, accessible, and inclusive trials
• Technology attributes that support successful outcomes 

The post Thought Leadership: Evolving Clinical Trial Designs, Protocols and Technology Strategies appeared first on MassBio.

In many ways, the COVID-19 pandemic accelerated innovation in biomedical research, while also revealing the industry’s shortcomings. 

Many sites, sponsors, and CROs implemented new digital tools on the fly, sometimes without solidifying longer-term data and technology strategies. But emerging approaches in clinical trial design and execution offer solutions, potentially increasing the probability of a therapeutics’ approval while improving participant experience. 

Explore this research-backed MedTech Dive studioID Industry Outlook report to learn:

• Innovative clinical trial designs and protocols 
• Regulations impacting technology adoption and use
• Strategies for building more efficient, accessible, and inclusive trials
• Technology attributes that support successful outcomes 

If you have questions after you review, contact Jessica Guardado at jguardado@medrio.com. 

The post New Report: From Bench to Bedside Evolving Clinical Trial Designs, Protocols and Technology Strategies appeared first on MassBio.

I immediately noticed something interesting. I did not feel comfortable sharing my screen during classes. Showing my home to others felt like an invasion of privacy and I had a hard time adapting to this new way of practicing yoga.  

I ended up attending online classes for a year, but I remained off camera during this period. Being off camera allowed me to stop during class whenever I wanted, do something different, or not follow the instructor. This gave me a false sense of safety and I ended up not finishing the class many times and for many different reasons.

I rationalized this behavior by saying to myself “online yoga classes are not the same, I’m not part of a community, and I feel isolated.” Then one day, I decided that this must end. I set up a room just for yoga and meditation and I turned my camera on.

From the first on-camera class, I felt the full benefits of yoga again. I was part of a class and benefited from the energy from the instructor. I did not stop or quit, and the class felt natural. It felt great to set aside once again time to take care of myself and be in class even though I was home. I was part of a community; feelings of isolation were gone, and the yoga classes finally started to have the same effect as I would have gotten at the yoga studio.

As I have reflected on the benefits on yoga classes (whether they’re in-person or online) it occurred to me that financial advisors play a role that is like yoga instructors. Just as a yoga instructor guides his or her class, financial advisors guide their clients and provide a variety of benefits, including:

1. Accountability: We all need different levels of accountability, some more than others. An advisor can reflect back on you and your life goals and help you adjust your actions when that is needed in order to achieve a plan that aligns with your most important personal values.
2. Guidance and direction: We all go through multiple life changes, such as marriage, having kids, changing jobs, and losing loved ones. I have noticed that these are the times when my clients need me the most to make clear, well-thought-out decisions about the next steps to take. That can be as simple as what kind of 529 plan to choose or how to negotiate your next compensation package.
3. Expertise: If we are lucky, we love what we do for work and we prefer to leave it to a professional to advise us on financial planning issues. Being able to rely on someone who has the resources and knowledge to answer any pressing questions you might have can be liberating and can give you a sense of calm and peace.
4. Family CEO: Finally, I believe an advisor who is passionate about helping you and your family should always show you the whole picture. An advisor can give you an overall perspective about your goals and how they relate to your everyday decisions, whether they be about investments or any financial goal. There shouldn’t be a question too simple or too complex for an advisor who understands your situation in depth and can serve as your trusted confidant. 

Please contact me with any questions you may have and to schedule an introductory call! 

The post October is National Financial Planning Month… And What Yoga Taught Me About The Importance Of Working With An Advisor appeared first on MassBio.

Researchers are working hard to develop safe and effective treatments for thousands of rare diseases. To do so, sponsors and CROs must navigate the unique concerns within rare disease research and design trials that accelerate ethical, groundbreaking research.

So, how is rare disease research different from other forms of clinical research? And how can researchers design trials that consider these unique aspects?

Read this eBook that shares insights from leading experts and learn:

• Strategies for engaging patient communities and retaining participants 
• Tailored approaches and study designs for rare disease clinical trials
• Techniques to manage and optimize a lean supply chain

To download, visit https://medrio.com/ebooks/opportunities-in-rare-disease-research-embracing-unique-considerations 

To learn more about Medrio, visit www.medrio.com or contact Jessica Guardado at jguardado@medrio.com. 

The post New eBook: Opportunities in Rare Disease Research: Embracing Unique Considerations appeared first on MassBio.

While further extensions are always possible, the updated implementation dates are now realistic. Don’t let past delays reduce today’s urgency. The EU MDR is already impacting both companies and patients, with some medical devices already being removed from the market, awaiting certification. 

So as a medical device manufacturer, what do you need to know to avoid potential bottlenecks and profit-stopping issues? 

Read this eBook to learn:

Important dates and deadlines based on device classification

Specific actions to take to prepare for certification 

Potential business and financial implications 

Considerations for future clinical research

Click here to access: https://medrio.com/ebooks/european-medical-device-regulation-5-steps-to-prepare-for-whats-coming

To learn more about Medrio, visit www.medrio.com or contact Jessica Guardado at jguardado@medrio.com. 

The post Medrio Introduces EU Medical Device Regulation Readiness eBook appeared first on MassBio.

Natural disasters, man-made disasters, and business disruptions have at least one thing in common: time is never on your side when you’re reacting. Remember Murphy’s law: anything that can go wrong will go wrong. During a crisis, you’re lucky if you have a few seconds to take a breath and react, so it’s critical to consider your financial readiness. As the Roman philosopher Seneca said, “Luck is what happens when preparation meets opportunity.”

Why Financial Preparedness Matters
Financial preparedness is much more than storing extra cash under your mattress. It’s about creating a plan to help you navigate unexpected financial challenges, which can help you:

     Remain calmer. Knowing that you have a plan to cover immediate needs and recover financially can alleviate stress and anxiety in times of crisis.
     

     Recover more quickly. Quick access to funds can speed recovery following an emergency or disaster. This can be especially important when a repair or medical attention is urgently needed.
     

     Prevent debt. Without proper financial preparedness, you might be forced to rely on high-interest credit cards or loans to cover expenses. This can lead to debt accumulation.

Steps to Becoming Financially Prepared
The nonprofit organization Operation HOPE has partnered with the Federal Emergency Management Agency (FEMA) to create the Emergency Financial First Aid Kit (EFFAK) to help people and businesses organize financial, medical, and household contact information that is often necessary to begin the recovery process after a disaster. The EFFAK provides lists of vital documents in categories such as household identification, financial and legal documentation, medical information, and household contacts. Having this information in one place, in a safe and accessible location, will set you on the road to recovery as soon as possible.

FEMA also offers recommended steps for financial preparedness. Unsurprisingly, the first one involves completing and dating all EFFAK forms. Learn how to prepare yourself.

     Assess and compile: Gather important financial documents and contacts and complete all EFFAK forms. Be sure that you have original versions of your documents; otherwise, reach out to the proper agency to request a copy.
Consider switching from paper checks to electronic transfer or direct deposit wherever possible. You can do this for federal benefits through Go Direct. Contact your employer to have your paychecks deposited directly into your bank account. In addition, it’s wise to print or download copies of autopay bills, such as rent or mortgage, utilities, loan payments, or membership fees.

Store cash in different denominations in a safe location where you’ll keep your EFFAK forms. In case ATMs aren’t working or banks are closed, you should have enough money (at minimum) for gas, food, and other daily necessities. Think about how many days or weeks during a crisis you’d like to sustain your current lifestyle and keep enough cash on hand for that period.

    Review: Go over your insurance policies and financial paperwork to ensure that they remain accurate and current. This includes verifying that your current homeowners’ insurance, auto insurance, and/or renters’ insurance policies are up to date. The EFFAK will help you clearly see any personal documents or insurance policies you might need or want to set up.

    Safeguard: Store paper copies of your documents in a fireproof and waterproof box or safe, in a bank safe deposit box, or with a trusted friend or relative. If you’re using a safe deposit box, you may want to confirm who can and cannot access the safe deposit box if the owner dies or cannot access it due to illness. Electronic copies of important documents should be stored in a password-protected format on a removable flash drive or external hard drive in your fireproof and waterproof box or safe.

You may want to provide your lawyer, financial advisor, or trusted family member or friend with a paper copy of your EFFAK in a sealed envelope. Provide instructions that they should open the envelope only with your approval or the approval of someone you have chosen in the event you cannot make decisions on your own.

   Update: Revisit your EFFAK on a regular basis to determine whether any information needs updating. Suggested times to review it include tax preparation time, the beginning or end of daylight saving time, your birthday, and the start of a new year. Any of the following events should prompt you to change your EFFAK as soon as possible:

   Change of insurance
   Change of residence
   Purchase of new home or rental of new apartment
   New bank account
   Change in marital status
   Birth or adoption of child
   Change in your child’s school
   Retirement planning
   Death in household

How to Stay Safe from Scams
Unfortunately, natural disasters and other emergencies inspire fraudsters to take advantage of those in difficult or desperate situations. In addition to being financially prepared to handle the aftermath of an unexpected crisis, you should be aware of red flags that might indicate a scam, including:

  Up-front fees. Help with claiming services, benefits, or loans should not require payment in advance.

  Door-to-door repair sales. These types of salesmen should be thoroughly vetted and should trigger suspicion, especially if they ask for advance payment or offer steep discounts.

  People asking for personal information or payment without credentials. Never give out personal information to people you don’t know, including over the phone. Con artists may attempt to pose as government employees, insurance adjusters, or bank employees. Call these agencies back at a verified number before disclosing any information.

  A sense of urgency. Be suspicious of those who claim to want to help but warn that there is a limited-time offer or pressure you to sign on the spot. You need time to thoroughly review and process anything presented to you. Consult a trusted friend, relative, lawyer, or advisor.

Of course, we hope you never find yourself in a situation where you need to reference these tips, but it’s best to be prepared. If you have questions about financial preparation for an emergency or the information in this article, please reach out to us by phone or email.

Third-party links are provided to you as a courtesy and are for informational purposes only. We make no representation as to the completeness or accuracy of information provided at these websites.

This communication is strictly intended for individuals residing in the states of CA, CO, FL, MA, MD, ME, MI, NC, NH, NY, PA, PR, RI, TN, TX, WA, WI. No offers may be made or accepted from any resident outside these states due to various state regulations and registration requirements regarding investment products and services. Investments are not FDIC- or NCUA-insured, are not guaranteed by a bank/financial institution, and are subject to risks, including possible loss of the principal invested.

Securities and advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. As a Registered Investment Adviser, Freedom Trail Financial offers financial planning services for a fee that are separate and unrelated to our relationship with Commonwealth.

The post How to Ensure That You Are Financially Prepared for an Emergency appeared first on MassBio.