Updates for 1099 Forms
There are over 800 forms used to report income, calculate taxes to be paid, and disclose information to the IRS. Effective January 2021, there will be one more.
Best Practices: Benefit Plan Open Enrollment
Open Enrollment is an important process that usually takes place November 1 through December 15. But for employers, planning starts much earlier. Planning ahead can result in savings, a smooth enrollment process and ensure that you are offering benefits that help recruit and retain the best talent. Here are some tips for success:
Pain Free 401(k) Audits
If you’re responsible for your company’s 401(k) administration, you know the annual 401(k) audit can get a little stressful. The good news is there are steps you can take to make your audit pain-free.
The Importance of Online Reviews
The coronavirus pandemic has forced us to reimagine the way we live and work. The spread of COVID-19 and the stay at home guidelines have forced most Americans to turn to the internet for everything from lunch to loungewear. Online reviews have become priceless, now that so many people are spending time online researching products and businesses. (more…)
COVID-Related Financial Aid Will Impact Your 2020 Tax Liability
In the wake of the COVID-19 pandemic, the U.S. government launched several programs to offer financial benefits to small businesses. While we’ve outlined the CARES Act and the Payment Protection Program Flexibility Act of 2020 and explained their differences, there’s one other thing that needs to be discussed – the impact on your tax return. Every type of financial aid program comes with tax implications.
In Flux: Changes to the Paycheck Protection Program
The widespread effects of COVID-19 continue to impact the U.S. economy. You may have heard that the deadline to apply for the Paycheck Protection Program (PPP) was extended until August 8, 2020. If you are still in need of funds, and have not applied, I encourage you to do so.