Blog

401(k) Employee Benefit Plan Audit: An Overview

On November 11, 2020 / Blog, Uncategorized

It can be hard to ensure your business remains compliant with every federal and state regulation. When it comes to your offered employee benefits, how do you know everything aligns with current guidelines? Has your business considered completing an employee benefits audit? In the content below, we define a 401(k) employee benefit plan audit, discuss the importance behind one, and explore when a business needs to have it completed. What Is a 401 (k) Employee Benefit Plan Audit? An employee

What is Business Benchmarking, and Why is it Important?

On October 22, 2020 / Blog

Regardless of the current economic environment, business strategy should always take priority. While creating ambitious goals, organization can fall into the habit of focusing on internal growth without observing and learning from the surrounding business environment. However, with business benchmarking, you can avoid minimal and temporary growth. In the content below, we define business benchmarking and explore why it is important. Defining Business Benchmarking Before discussing the importance of benchmarking, we must introduce the term and its functions. Essentially, benchmarking

Compare and Contrast: How Do the Republican and Democratic Tax Plans Differ?

On September 30, 2020 / Blog, Uncategorized

With the presidential election only weeks away, many people are beginning to pay closer attention to each candidate’s positions on such issues as the COVID-19 pandemic, health care, the environment and taxes.

What Does the Executive Action Deferring Payroll Taxes Mean for Employers and Employees?

On August 12, 2020 / Blog, Uncategorized

On August 8, 2020, President Trump signed an executive memorandum that defers an employee’s portion of Social Security and Medicare taxes from September 1 through December 31, 2020.

IRS Guidance Provides RMD Rollover Relief

On July 6, 2020 / Blog, Uncategorized

The CARES Act was enacted in an attempt to mitigate the economic effects of the COVID-19 pandemic. Among other things, it extends favorable tax treatment to qualified individuals who take so-called “coronavirus-related distributions” (CRDs) from IRAs, 401(k) plans and certain other retirement plans.

PPP Borrowers Get Concessions, Additional Guidance on Forgiveness

On June 8, 2020 / Blog

The U.S. Senate has passed the bipartisan Paycheck Protection Program Flexibility Act of 2020, which loosens several of the Paycheck Protection Program’s (PPP’s) more onerous restrictions regarding loan forgiveness.

Congress Expands Small Business COVID-19 Relief

On April 24, 2020 / Blog

Congress and the Trump administration have struck a deal on another piece of legislation, the latest in a series of federal measures intended to provide relief in response to the novel coronavirus (COVID-19) pandemic.

The IRS Announces New COVID-19-related Assistance for Taxpayers

On April 13, 2020 / Blog

The IRS and the U.S. Department of Treasury have announced new relief for federal taxpayers affected by the coronavirus (COVID-19) pandemic.

The Small Business Administration Launches the Paycheck Protection Program

On April 7, 2020 / Blog

The CARES Act allocates nearly $350 billion to a new lending program through the Small Business Administration during the Coronavirus (COVID-19) pandemic.

COVID-19 Stimulus Package Offers Relief to Affected Individual Taxpayers

On March 31, 2020 / Blog

Stimulus Package Offers Relief to Individual Taxpayers

To help mitigate the financial and health crises related to the coronavirus (COVID-19), on Friday, March 27, 2020, President Trump signed into law the largest economic relief package in modern U.S. history.