The impact of automatic enrollment in 401(k) plans is becoming increasingly evident. On average, 401(k) plans with an automatic enrollment feature have a 20% higher participation rate than plans without. This translates to a more financially secure future for your workforce. However, the landscape is set to shift further.
(more…)
While the IRS created a moratorium on new Employee Retention Credit (ERC) claims in September of last year, they have continued to process previously filed claims. However, increased concerns about fraudulent claims have led to a more rigorous review process.
(more…)
Employee theft is not just about millions of dollars embezzled from corporate giants. It happens in all kinds of businesses, from neighborhood stores to local cafes. And it’s often small, repeated actions that add up over time and significantly impact the bottom line. With their limited resources, small businesses can feel the pinch even more.
(more…)
At Boris Benic and Associates, we’re grateful for every opportunity to socialize with other business leaders. In fact, Boris Benic, Robert Puerto, and Chris Benic recently had the pleasure of attending the Eminae Mergers and Acquisition Holiday Black Tie Reception. This exclusive event served as a delightful blend of holiday festivities, a celebration of achievements throughout the year, and a fantastic networking opportunity.
(more…)
The IRS has just introduced a new opportunity for employers to rectify questionable Employee Retention Credits (ERC) through the Voluntary Disclosure Program. Aimed at providing a discounted repayment option, this initiative presents a valuable chance for businesses to address potential discrepancies in their ERC claims. Let’s explore the key aspects of the IRS’s new initiative.
(more…)