This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-half cent, to 57.5 cents per…Read More
Blog
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Numerous Tax Limits Affecting Businesses Have Increased for 2020
An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be important to…Read More
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Stretch IRAs Lose Potency under the SECURE Act
The Setting Every Community Up for Retirement Enhancement (SECURE) Act contains a number of favorable provisions that will help Americans save more for retirement. However, the new…Read More
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Important Tax Figures for 2020
The following table provides some important federal tax information for 2020, as compared with 2019. Some of the dollar amounts are unchanged and some changed only slightly…Read More
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What Employers Should Know About the SECURE Act
The Setting Every Community Up for Retirement Enhancement (SECURE) Act was mainly intended to help individuals save more for retirement. But the new law also contains provisions…Read More
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SECURE Act Affects Retirement and Tax Planning for Individuals
On December 20, President Trump signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) Act. It was part of the Further Consolidated Appropriations Act…Read More
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Employee Benefit Plans: Do You Need a Form 5500 Audit?
Some benefit plans are required to include an opinion from an independent qualified public accountant (IQPA) when filing Form 5500 each year. The IQPA examines the plan’s financial…Read More
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New Rules Will Soon Require Employers to Annually Disclose Retirement Income to Employees
As you’ve probably heard, a new law was recently passed with a wide range of retirement plan changes for employers and individuals. One of the provisions of…Read More
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Wayfair Revisited — It’s Time to Review Your Sales Tax Obligations
In its 2018 decision in South Dakota v. Wayfair, the U.S. Supreme Court upheld South Dakota’s “economic nexus” statute, expanding the power of states to collect sales…Read More
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New Law Helps Businesses Make Their Employees’ Retirement Secure
A significant law was recently passed that adds tax breaks and makes changes to employer-provided retirement plans. If your small business has a current plan for employees…Read More