Resources

ESOP Benefit Payment Reporting – Don’t Forget the Details

If your company is ESOP owned, be sure that management has a good plan for benefit payment reporting, to generate tax savings for participants and to avoid costly errors.

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How to Prevent Errors in Your Retirement Plan’s Internal Controls

If your organization’s retirement plan has errors—even if you’ve hired a service provider—you are accountable for fixing those errors.

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Critical Records for Every Startup

Accounting and financial managers at startup companies are learning as they go. To find out more about typical requirements for companies that require financial reports for investors, click here.

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Individual Income Tax Rates

IRS provides tax inflation adjustments for tax year 2020. Learn more at https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2020

How Long Should You Retain Records

The length of time you should keep a document depends on the action, expense, or event which the document records. Generally, you must keep your records that support an item of income, deduction or credit shown on your tax return until the period of limitations for that tax return runs out. Learn more at https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2020

Dollar Limits for Retirement Contributions

The tax law places limits on the dollar amount of contributions to retirement plans and IRAs and the amount of benefits under a pension plan. IRC Section 415 requires the limits to be adjusted annually for cost-of-living increases. Learn more at https://www.irs.gov/retirement-plans/cola-increases-for-dollar-limitations-on-benefits-and-contributions

Electric Vehicle Credit
Individual Income Tax Rates
How Long Should You Retain Records
Dollar Limits for Retirement Contributions
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