SECURE 2.0 Act Requires 401(k) Plan Administration Changes for Employers
The 401(k) plan is the most popular employer-sponsored retirement plan in the United States. As of September 30, 2022, more than $6.3 trillion in assets were held in 401(k) accounts by more than 60 million active participants, as well as millions of former employees and retirees. So 401(k) plans are a key payroll responsibility for most businesses….
2023 National 8(a) Association Conference Trends
This premier annual conference provides education and supplier diversity networking for small businesses. This year’s event was held at the Hyatt Regency New Orleans from February 13 through 15 and was sold-out. Clearly, many small businesses are ready to travel again for in-person events! In addition to making introductions to federal agencies and prime contractors,…
State-Mandated Retirement Plans: An Overview for Businesses
By Jennifer Galstad-Lee, CPA, JD, Senior Tax Manager Many Americans are not saving enough for retirement – in fact, a recent survey by the Federal Reserve found that a quarter of working adults have no retirement savings at all. To address this growing crisis, a number of states are enacting laws that require private businesses…
Tax Benefits of “Going Green”
By Jennifer Galstad-Lee, Senior Manager, Tax From electric vehicles to solar panels, “going green” can offer both environmental and financial benefits. With global conflicts and increased gas prices, now may be the time to explore reducing your carbon footprint to better the Earth and save you money. In addition, with more emphasis on environmental, social…
PPP Loan Forgiveness and FAR “Credits” for Government Contractors
By: Paul H. Calabrese, Principal, Outsourced Accounting and Advisory Services/Government Contracting As the COVID-19 pandemic comes to an end, many vendors, suppliers and service providers to the federal government have applied for forgiveness of their Paycheck Protection Program (PPP) loans. Working virtually meant that many professional service providers in particular did not need additional funding to keep their workforces intact,…
SBA issues FAQs on Shuttered Venue Operators Grants
Venues affected by the COVID-19 pandemic may be eligible for emergency assistance from the US Small Business Administration (SBA) under the Shuttered Venue Operators (SVO) Grant. Late last week, the SBA released FAQs regarding eligibility, application, use of funds, revenue definitions, and other requirements. Venues that believe they may be eligible for assistance should review…
Top 10 Tips for Beginning Your Exit Plan in 2021
By Walter Deyhle, CPA/ABV/CFF, MAFF, CExP™, CEPA, Tax Partner and Director of Exit Planning Division Is 2021 the year you will begin planning your future exit from the company? It might be the smartest resolution you ever make. Studies show that business owners who are the most successful in exiting their businesses begin planning their…
IT Security is More Critical than Ever for Nonprofits and Associations
By Melissa Musser, CPA, CITP, CISA, Principal With employees working from home, many nonprofits and associations (particularly smaller organizations) are more concerned than ever about information technology (IT) security. The issue is of even greater concern to organizations whose employees use their personal laptops and other electronic equipment to do their job remotely. With this…
Next Steps for Organizations Responding to the COVID-19 Crisis
Key Considerations and Tools for Planning a Safe and Productive Return to Workplace Guide By Melissa Musser, Principal, Risk & Advisory Services Many state and local governments are making plans to open businesses and get the economy moving again. For organizations that have closed their offices and storefronts to work remotely since mid-March, there…
Consider a Virtual CISO to Meet Your Current Cybersecurity Challenges
By: Melissa Musser, CPA, CITP, CISA, Risk & Advisory Services Principal, and Darren Hulem, IT and Risk Analyst The COVID-19 crisis, with a new reliance on working from home and an overburdened healthcare system, has opened a new door for cybercriminals. New tactics include malicious emails claiming the recipient was exposed COVID-19, to attacks on…