Posted on February 29, 2024
The SECURE Act 2.0, passed into law in 2022, aims to reform the nation’s retirement savings system, making it easier for workers to save for their golden years and simplifying the rules employers must follow to administer retirement benefit plans for their employees. Following are some of the law’s provisions that take effect on Jan. […]
In this episode Director of Assurance and Advisory Services Whitney Schiffer shares the ways insurance audits can uncover underpayments and improve finances.
Posted on January 22, 2024
The IRS announced the inflation adjustments taxpayers may use to determine the deductible costs of operating a motor vehicle for business, charitable and medical purposes in tax year 2024. Taxpayers also have the option to calculate these expenses based on the actual costs they incur to use their vehicles. Effective Jan. 1, 2024, the standard […]
Posted on January 18, 2024
In this episode Associate Director of Tax Services Joel Young shares the background of the Corporate Transparency Act and who business owners will need to report.
Posted on January 04, 2024
In this episode, head of recruiting Mari-Luque Hanchett talks about what makes a successful recruiting strategy and how we assist clients in filling executive and professional roles.
Posted on December 27, 2023
The IRS’s 2024 cost-of-living adjustments for retirement savers include higher annual contribution limits to 401(k) plans and Individual Retirement Accounts (IRAs) along with higher income limits for individuals to qualify for tax-deductible contributions to traditional IRAs and taxable contribution to Roth IRAs. Employer-Sponsored Retirement Plans In 2024, employees may contribute up to $23,000 into workplace […]
Certain businesses receiving cash payments exceeding $10,000 must electronically file IRS Form 8300 beginning on Jan. 1, 2024, rather than filing a paper return. According to the IRS, although many cash transactions are legitimate, Form 8300 aims to combat tax evasion, drug trade, terrorism financing and other criminal activities. The new reporting requirement applies to […]
Many businesses are tightening their flexible work policies, trying to coax remote employees to return to their offices in person to collaborate with their peers and build their careers. One of the unique ironies of this past summer occurred when Zoom, the videoconferencing platform that kept workers connected throughout the pandemic, announced it would require […]
Posted on November 09, 2023
Certain non-spouse beneficiaries of inherited IRAs will need to begin taking annual RMDs from those accounts beginning in 2024 to satisfy the SECURE Act’s 10-year rule, which requires the liquidation of those accounts within 10 years of the original owner’s death. While the law eliminating stretch IRAs was passed in 2019, the IRS has since […]
Posted on November 07, 2023
Cash is king, especially when it comes to small businesses. An entrepreneur’s ability to effectively manage cash flow ultimately can mean the difference between success and failure. To keep the cash flow engine operating at optimal performance through economic headwinds, such as rising interest rates and tightening of credit availability, business owners should consider the […]