Are Your Clients Thinking About Starting a 401(k)?

November 10, 2020 | posted in: Accountants | by

Need To Act Now For a 1/1/21 Effective Date!
Now is the time to act if your clients are thinking about establishing a 401(k) plan to save on their taxes, and to offer a benefit their employees.
Most companies run on a calendar year basis, and typically, employee benefits start on the first of the year. Aligning the 401(K) start date with other benefits and the tax year will make recordkeeping easier for you and your client.   Read More  »

New Updated Deadlines for All Business Entities

April 2, 2020 | posted in: Accountants, Plan Sponsor Corner | by

As you know, all Florida business entities are responsible for filing Annual Reports regardless of whether or not you received a notice by email.  Please note that Pursuant to Executive Order No. 20-52 and Department of State Emergency Order 2020-01 signed March 27, 2020, the filing deadlines for business entities to file annual reports have been extended to June 30, 2020.   Read More  »

Congress Enacted Major Retirement Plan Legislation – Here’s What You Need To Know About the SECURE Act

January 29, 2020 | posted in: Accountants, Blog, Plan Sponsor Corner | by

The SECURE Act is the most significant retirement plan legislation in 13 years, and many of its provsions are effective in 2020.  It affects employers who currently sponsor retirement plans, and encourages those without plans to set them up.  It also impacts plan participants, IRA holders and their beneficiaries, and expands the uses of 529 college savings plans.   Read More  »

A Defined Benefit Cash Balance Plan401(k) Combo

November 26, 2019 | posted in: Accountants | by

Pension law will allow a company to, in effect, “stack” a cash balance (defined benefit) pension plan on top of a 401(k) plan. When structured properly, small business owners have the ability to put tens of thousands of additional dollars into retirement accounts each year, and get a tax deduction for every dollar contributed.Who should consider a Pension/401(k) Combo Plan?   Read More  »

Deadline For Funding 401(k) Deferrals!

November 26, 2019 | posted in: Accountants | by

Many employers think the deadline for depositing a 401(k) contribution is the 15th business day of the monthafterthey withheld the contribution from an employee’s wages.
That is not correct, though.Employers who wait until the 15th day of the following month to deposit deferrals might find out that they owe a penalty, among other unpleasant consequences.   Read More  »