Workplace retirement plans were also affected by the recently passed SECURE Act 2.0, which is where we start back up with part two of our SECURE Act 2.0 blog series.

There are some major changes rolling out in the next few years related to many types of retirement accounts, courtesy of what is known as the SECURE Act 2.0. The first of the legislation will roll-out in fiscal year 2023, although the full impact may not be felt until 2033 when the last of these changes goes into effect. The SECURE Act 2.0 will be a game-changer that will affect employer and employee plans, as well as individual retirement account (IRA) owners and beneficiaries.

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 and 2021.

A new year has arrived. For many businesses, this means employees’ paid time off (PTO) arrangements have reset. And at companies with “use it or lose it” policies, workers have likely left a few or perhaps many unused hours on the table.

Good news for anyone who uses one or more of the popular payment applications such as Venmo, PayPal, or CashApp: the new tax reporting requirement threshold that was scheduled to take effect for the 2022 tax year has been delayed!

A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was signed into law on December 29, 2022.

If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences.

It might sound like the lingo of air traffic controllers — inbound vs. outbound. But businesses of all types must grapple with these concepts and their associated challenges when developing sales strategies.

Socking away money in a tax-advantaged retirement plan can help you reduce taxes and help secure a comfortable retirement. If your employer offers a 401(k) or Roth 401(k), contributing to the plan is a smart way to build a substantial nest egg.

Family-owned businesses face distinctive challenges when it comes to succession planning. For example, it’s important to address the distinction between ownership succession and management succession.