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How Can Your Business Benefit from the Consolidated Appropriations Act?

The Consolidated Appropriations Act of 2021 (CAA) was signed into law in late December. The sprawling legislation contains billions of dollars in additional stimulus funding in response to the COVID-19 pandemic, as well as numerous unrelated provisions. Let’s take a closer look at the provisions that are most likely to affect your company’s bottom line. Paycheck Protection Program The CAA includes another $284 billion in funding for forgivable loans through the Paycheck Protection Program (PPP), for both first-time and so

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Individual vs Corporate Taxes

individual vs corporate taxes; individual taxes; corporate taxes

Income tax is difficult to navigate when new to owning and operating a business, whether you have several employees or are self-employed. Are you trying to differentiate individual taxes on income from corporate taxes? Below, we will explore the differences between individual vs corporate taxes. Individual vs Corporate Taxes Corporate Taxes Corporate taxes on income, also known as corporate income taxes, company taxes, or corporation taxations, refer to a direct tax levied on a company’s income or capital by the

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401(k) Employee Benefit Plan Audit: An Overview

employee benefit plan audit

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

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What is Business Benchmarking, and Why is it Important?

business benchmarking

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

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IRS Guidance Provides RMD Rollover Relief

IRS Guidance Provides RMD Rollover Relief

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.

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