Over the past nearly two years, businesses across the country, and the world, have been severely impacted by COVID-19. Throughout the course of the pandemic there have been numerous local, state, and national level legislative changes and implementations to aid in the...
Even before the COVID-19 pandemic, employers were becoming increasingly focused on helping their workforces prepare for retirement and address other areas of financial wellness. Unfortunately, the pandemic heightened the pressures that many workers face in multiple...
State and local governments are revisiting taxpayer compliance with nexus rules and other tax policies, considering new taxes on digital services and reconsidering conformity with federal tax rules and legislation in an effort to rebuild their economies. The following...
Employers who could use a federal income tax deduction for 2020 can consider retroactively adopting a broad-based, tax-qualified retirement plan, such as a discretionary profit-sharing plan, cash balance plan or traditional pension plan and making employer...
Every six years, the Internal Revenue Service (IRS) requires employers with qualified, pre-approved plans to restate their plan documents – reflecting changes that have occurred since the plan documents were created or last restated. For defined contribution plans,...
In an effort to help the nation recover from the COVID-19 pandemic and related economic crisis, President Biden signed the $1.9 trillion American Rescue Plan Act of 2021 (ARPA) on March 11, 2021. The law includes stimulus checks, state and local government aid...
This article is current as of June 9, 2021 Most state workers’ compensation (WC) laws clearly state that a disease to which the general population is exposed is exempt from WC. On the surface, this exemption appears to limit the impact of COVID-19 on WC coverage. Many...
The Biden Administration’s American Families Plan and other tax proposals may complicate the tax landscape for high-income earners. Many of the proposals target taxpayers earning more than $400,000 per year. The American Families Plan proposals include: Increasing the...
Today, more than four out of five people in the United States live in cities and urban areas. Over the country’s long history of urbanization, cities like New York, San Francisco and Chicago swelled not only in population, but also in their prominence as American...
Employee ownership can be an attractive option for owners looking to sell their business while maintaining their legacy and protecting the wellbeing of employees. The following article answers common questions related to the creation, financing, valuation and tax...