While many small businesses start out as “lean enterprises,” with costs kept to a minimum to lower risks and maximize cash flow, the current tight labor market challenges that premise as it relates to employee benefits, especially retirement plans. Is now the time for you to consider a retirement plan as part of your benefits […]

Congratulations! Your child or grandchild has taken the next big step in life. Many parents and grandparents saved for years in tax-favored accounts to send their children to college. Did you know that there are a number of tax breaks that you may be able to claim once your child begins attending college or post-secondary […]

This law has several provisions that will kick in over the next several years. Several changes from automatic retirement plan enrollment to higher catch-up contributions are included in the new law. Small businesses with or without a retirement plan may see changes and benefits from this recently enacted new law. Read below on how to […]

Data analytics used to belong to big business with deep pockets. Today, even the smallest companies can gain invaluable insight from the data they already own. But finding, organizing and deriving meaning from the terabytes upon terabytes of information out there isn’t easy. How can your company harness the power of data without throwing dollars […]

If you’re a parent or grandparent with college-bound children, you may want to save to fund future education costs. You want to take maximum advantage of tax benefits to minimize your expenses. Here are some possible options. Savings bonds Series EE U.S. savings bonds offer two tax-saving opportunities when used to finance college expenses: You […]

The Employee Retention Credit (ERC) was a valuable tax credit that helped employers that kept workers on staff during the height of the COVID-19 pandemic. While the credit is no longer available, eligible employers that haven’t yet claimed it might still be able to do so by filing amended payroll returns for tax years 2020 […]

If your company has a use it or lose it policy for employee paid time off, for many they just lost any unused paid time off. There are some ways to avoid this so that your employees can fully enjoy their PTO and maybe even help them plan for retirement. Unused PTO time is a […]

Long-awaited new legislation alters the landscape of retirement planning for taxpayers of all ages, and there are changes taking immediate effect in January 2023. The principal focus of the SECURE 2.0 Act is to expand retirement coverage and increase retirement savings. SECURE 2.0 is meant to build on the original SECURE Act of 2019, which […]

With higher gas prices in 2022, the IRS increased the business cents-per-mile rate to 65.5 cents per mile (a 3-cent increase from the 62.5-cent rate that applied during the second half of 2022). These rates apply to electric, hybrid, gasoline, or diesel powered vehicles used for business. How rate calculations are done The 3-cent increase […]

Businesses of all stripes are about to embark upon a new calendar year. Whether you’ve done a lot of strategic planning or just a little, a good way to double-check your objectives and expectations is to revisit your business plan. Remember your business plan? If you created one recently, or keep yours updated, it might […]