4 New Law Changes That May Affect Your Retirement Plan
January 8, 2020 Knowledge Center
4 New Law Changes That May Affect Your Retirement Plan

If you save for retirement with an IRA or other plan, you’ll be interested to know that Congress recently passed a law that makes significant modifications to these accounts. The SECURE Act, which was signed into law on December 20, 2019, made these four changes. Change #1: The maximum age for making traditional IRA contributions […]

Must Employers Distribute Initial COBRA Notices Every Year?
January 6, 2020 Knowledge Center
Must Employers Distribute Initial COBRA Notices Every Year?

When an employer’s staff size reaches 20 or more, it’s generally required to offer “COBRA” health care coverage to departing employees. (The name comes from the legislation that made it law: the Consolidated Omnibus Budget Reconciliation Act of 1985.) If your organization is subject to COBRA, you may wonder whether you must provide the initial […]

How to Research a Business Customer’s Creditworthiness
January 3, 2020 Knowledge Center
How to Research a Business Customer’s Creditworthiness

Extending credit to business customers can be an effective way to build goodwill and nurture long-term buyers. But if you extend customer credit, it also brings sizable financial risk to your business, as cash flow could grind to a halt if these customers don’t make their payments. Even worse, they could declare bankruptcy and bow […]

Your Home Expenses May Be Tax Deductible
December 30, 2019 Knowledge Center
Your Home Expenses May Be Tax Deductible

Technology has made it easier to work from home so lots of people now commute each morning to an office down the hall. However, just because you have a home office space doesn’t mean you can deduct expenses associated with it. Regularly and exclusively In order to be deductible for 2019 and 2020, you must […]

What’s the Right Device Policy for Your Company?
December 26, 2019 Knowledge Center
What’s the Right Device Policy for Your Company?

Device policies pertaining to smartphones and other technology tools continue to frustrate business owners as they try to balance their needs for security and functionality against employees’ rights to privacy and freedom. At some companies, loose “bring your own device” (BYOD) policies are giving way to stricter “choose your own device” (CYOD) or “corporate-owned, personally […]

Stretch Your Marketing Dollars Further With Smart Strategies
December 23, 2019 Knowledge Center
Stretch Your Marketing Dollars Further With Smart Strategies

If your marketing budget is limited, there may be ways to make that money go further. Smart strategies abound for small to midsize businesses. Let’s look at a few ideas for stretching your marketing dollars a bit further. Check out the big guys Look to larger companies for ideas on how to improve and amp […]

Do You Have a Side Gig? Make Sure You Understand Your Tax Obligations
December 20, 2019 Knowledge Center
Do You Have a Side Gig? Make Sure You Understand Your Tax Obligations

The number of people engaged in the “gig” or sharing economy has grown in recent years, according to a 2019 IRS report. And there are tax consequences for the people who perform these jobs, such as providing car rides, renting spare bedrooms, delivering food, walking dogs or providing other services. Basically, if you receive income […]

Counting Your Employees for ACA Compliance Purposes
December 18, 2019 Knowledge Center
Counting Your Employees for ACA Compliance Purposes

It seems like a simple question: How many full-time workers does your organization employ? But, when it comes to the Affordable Care Act (ACA), the calculation can be complicated — and the answer is important. Potential penalty The number of workers you employ determines whether your organization is an applicable large employer (ALE). If you’re […]

Keep Your Head in the Game to Attract IT Talent
December 16, 2019 Knowledge Center
Keep Your Head in the Game to Attract IT Talent

There’s little doubt that nearly every type of employer will continue to rely on technology to beat — or even just keep up with — their competition. This means not only acquiring the right hardware and software, but also hiring and retaining the brightest IT people. Indeed, organizations that fall behind in tomorrow’s marketplace may […]

Using an E-Certification Process for 401(K) Hardship Distributions
December 12, 2019 Knowledge Center
Using an E-Certification Process for 401(K) Hardship Distributions

When participants request hardship distributions from a 401(k) plan, employers must collect and store documents showing that the participant had an immediate and heavy financial need to permit such a distribution. In today’s digital age, you might wonder whether you could instead allow participants to certify their needs electronically. The short answer is a tentative […]

Deciding Whether a Merger or Acquisition Is the Right Move
December 11, 2019 Knowledge Center
Deciding Whether a Merger or Acquisition Is the Right Move

Merging with, or acquiring, another company is one of the best ways to grow rapidly. You might be able to significantly boost revenue, literally overnight, by acquiring another business. In contrast, achieving a comparable rate of growth organically — by increasing sales of existing products and services or adding new product and service lines — […]

Small Businesses: Can’t Offer an FSA? Consider a QSEHRA
December 5, 2019 Knowledge Center
Small Businesses: Can’t Offer an FSA? Consider a QSEHRA

Like many small business owners, you may be unable to sponsor a major medical plan at this time. Perhaps you’ve thought about sponsoring a health Flexible Spending Account (FSA) instead. Unfortunately, under federal regulations, you may not be able to do that either. There is, however, a relatively new option available to you. Compliance rationale […]