Companies with Employee Benefits Plans with year-end calendar dates had until July 31st to file Form 5500 and its required audit report. Those that requested an extension had an additional 2.5 months to file, making the new deadline October 15th. That date will be here before you know it. But there’s no need to worry. (more…)
In the ever-changing landscape of the global economy, businesses need to be prepared for any potential downturns, especially a recession. A recession is best defined as two successive quarters of negative GDP growth. Despite fears of a recession in 2023, the US economy continues to be healthy. But to safeguard your company’s sustainability and success, it’s crucial to be proactive about the potential slowing of sales and profits.
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Nobody thinks about short-term disability until they must. But it’s something employers should be familiar with because it’s likely to come up more often than they realize. That’s because almost 6% of working Americans experience a short-term disability of six months or less due to an illness, injury, or pregnancy each year. Understanding this statistic is crucial not only for your personal knowledge but also for recognizing the impact it can have on employees at your business.
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The IRS just released its audit statistics for the 2018 fiscal year, and fewer taxpayers had their returns examined as compared with prior years. However, even though a small percentage of tax returns are being chosen for audit these days, that will be little consolation if yours is one of them.
May 30, 2017
If you recently filed your 2016 income tax return (rather than filing for an extension) you may now be wondering whether it’s likely that your business could be audited by the IRS based on your filing. Here’s what every business owner should know about the process. (more…)