Changes To The Determination Letter Program

Feb 11, 2019 | Benefit Plan Audits

Effective 1/1/2017 Internal Revenue Service (IRS) eliminated the staggered 5-year remedial amendment cycle for individually designed plans (IDP) on which auditors relied to verify the Plan’s tax qualified status. In lieu of the letters, on October 1st of each year IRS...

Understanding the Performance Metrics Within Your Financial Reports

Jan 23, 2019 | Tax

Do you truly understand your company’s financial statement? Having a strong understanding the three components to your financial statements  — the balance sheet, income statement and statement of cash flows — allows you to make wise business decisions. Balance Sheet...

Yes, Divorce Can Be Taxing and the Cost is Set to Rise in 2019

Jan 17, 2019 | Tax

Divorce is expensive. Aside from the emotional toll divorce takes on a family, both the process and aftermath of a divorce can be costly. Below we look at some of the steps people can take to help remove the tax sting out of an already challenging time and arrive at...

Consideration Of Non-Cash Contributions

Jan 16, 2019 | Benefit Plan Audits

Plan Sponsors may consider contributing non-cash assets into the Plan;  typical non-cash contributions include corporate shares and real-estate assets. However, if you’re considering such contributions, be alert as they may trigger prohibited transactions under...