Deadline Alert: Affordable Care Act Shared Responsibility IRS Reporting Requirements

Does your company meet the reporting requirements?
Do you have procedures and systems to capture the necessary data?
Have you started gathering the necessary data?
Do you know who will be preparing your returns?

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Topics: Tax, Healthcare, Retirement Plan Services

Employee Benefit Plan Audit Problems

Posted by lgtcpa on Jun 2, 2015

The US Department of Labor (“DOL”), generally requires employee benefit plans (“EBP”) with 100 or more participants to have an audit as a part of the annual filing of their Form 5500.

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Topics: Accounting Tips, Audit, Retirement Plan Services

11 Wise Ways to Spend Your Tax Refund

Posted by lgtcpa on Mar 17, 2015

Anxious to start blowing the bundle you’re getting back from the IRS? Before you delegate where you’re going to spend it all, consider these wise ways to re-purpose your refund in a way that will help you in the long run.

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Topics: Accounting Tips, Wealth Management, Tax, Retirement Plan Services

When should my children begin saving for retirement?

Posted by lgtcpa on Mar 17, 2015

Whether your children (or grandchildren) are recent college graduates just starting their first job or have been employed and supporting themselves for several years, they may not be taking advantage of their employer-sponsored retirement plan. Unfortunately, for many 20-somethings, saving for retirement takes a backseat to other priorities.

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Topics: Accounting Tips, Retirement Plan Services

2015 Compliance Calendar for 403(B) Plan Sponsors

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Topics: Accounting Tips, Not-for-Profit, Retirement Plan Services

2014 Year-End Tax Planning

Posted by lgtcpa on Nov 11, 2014

Year-end tax planning is especially challenging this year because Congress has yet to act on a host of tax breaks that expired at the end of 2013. Some of these tax breaks may be retroactively reinstated and extended, but Congress may not decide the fate of these tax breaks until the very end of this year (and, possibly, not until next year).

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Topics: Accounting Tips, Tax, Retirement Plan Services

Understanding the Difference In 401(k) Plans

Bundled or Unbundled? What’s the difference and why should you care?

Budget, flexibility and needs (size of your plan’s assets) are major factors when choosing the proper 401(k) retirement plan provider for your business. Deciding to use a bundled or unbundled approach depends on what you need. At one time, one or the other could have been a better option, but things change. LGT would like to walk you through the misconceptions and benefits of bundled versus unbundled 401(k) plans.

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Topics: Accounting Tips, Retirement Plan Services

Senior Living Deductibility

Deciding to put a loved one in a long-term life care facility can be stressful, but things tend to get even more complicated when it comes time to prepare his or her tax returns or trying to figure out how you will afford the services he or she needs.

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Topics: Tax, Healthcare, Retirement Plan Services