Employers that sponsor EBPs must ensure that they comply with federal laws enforced by the IRS and the U.S. Department of Labor (DOL). The government uses Form 5500 to collect information about EBPs...
In September 2023, the Department of Labor (DOL) proposed new regulations under the Fair Labor Standards Act of 1938 (FLSA). The proposed changes will have far-reaching impacts on many businesses...
Many business owners may be aware of pass-through deduction but lesser of them may realize that they can utilize eligible retirement contributions to potentially gain a huge tax advantage on...
Have you ever questioned what expenses you can write off after paying for a business lunch or providing food for an office meeting? Maximizing tax deductions while avoiding potential issues with tax...
Federal tax credits are designed to reduce tax burdens for certain expenses, and there are many potential tax credits for which a person or business may be eligible.
Nonprofit organizations must often look for creative ways to optimize resources and cut costs, particularly in today's challenging economy. One potential way in which many nonprofits are doing that...
The board of a nonprofit organization has tremendous responsibilities. Board members should ardently support the organization’s purpose, but zeal is not the only important quality. Diversity among...
The Tax Cuts and Jobs Act (TCJA) of 2017 made sweeping changes to the Internal Revenue Code (IRC). It lowered tax rates for individuals, businesses and families. Some provisions of the statute are...
Keywords: Exempt: Paid a salary, not eligible for overtime due to being classified as executive, professional, administrative, or outside sales. Non-Exempt: Eligible for overtime pay for any hours...
The Inflation Reduction Act (IRA) of 2022 contains numerous provisions that create or expand tax incentives for the use of and investment in clean energy technologies. In the past, these benefits...