Insights

Do You Have More Than 100 Employees in Your Employee Benefit Plan?

  

If you have more than 100 employees participating in your employee benefit plan (EBP), you may be required to undergo an EBP audit. For plan years beginning on or after January 1, 2023, the requirements for an EBP audit have changed. Defined contribution plans that have at least 100 participants with account balances in their…

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The Importance of Beneficiary Designations

  

“Carol Page” got a call from the bank-an IRA from her deceased father was found and paperwork needed to be signed. But before the money was made available, a snag was discovered-her mother was named as the beneficiary, and unfortunately, her mother had recently died. The bank explained that now Page had to work with…

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Small Business Tax Breaks: Are You Leaving Money on the Table?

  

When running a small business, it’s easy to get caught up in the day-to-day demands of overseeing operations, managing cash flow, and ensuring customer satisfaction. With so many pressing priorities, exploring tax breaks and incentives often falls to the bottom of the to-do list. However, taking the time to learn more about available tax benefits can…

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June 2024 Newsletter

June 13, 2024

Taking time to learn about available tax benefits can lead to significant savings and reinvestment opportunities for your business.

Ransomware is Targeting Small Businesses

June 12, 2024

During the pandemic, data breaches disproportionately affected smaller companies; they were targeted at twice the rate of larger businesses. Since the pandemic, those same smaller companies have been struggling with COVID-19 fallout ranging from supply and labor shortages to bouts of inflation. All those preoccupations have left them more vulnerable to ransomware attacks. Enemy at…

May 2024 Newsletter

May 9, 2024

Rising property values in Arizona are prompting investors to implement 1031 exchange strategies to mitigate hefty capital gains taxes and reinvest for further growth.

Ensure Your Business Has Renewed Your Transaction Privilege License for 2024

May 9, 2024

R&A renews Transaction Privilege Tax (TPT) licenses for clients for which we process sales tax. If you process your TPT renewal yourself and have not yet done so, Arizona Department of Revenue (ADOR) has issued this reminder to renew now. Penalties will apply. Here from ADOR is the information you need to make that happen. …

1031 Exchange Rules for Real Estate Investors in Arizona

May 9, 2024

Arizona’s housing market has become a hotspot for real estate investors in recent years, fueled by its rapid growth and potential for significant returns. As investors expand their portfolios, rising property values are prompting investors to implement 1031 exchange strategies to mitigate hefty capital gains taxes and reinvest for further growth. Understanding 1031 Exchanges Named…

Major Overtime Change Will Deeply Affect Employers

May 9, 2024

According to a Department of Labor release, a newly issued rule increases the salary threshold required to exempt a salaried bona fide executive, administrative, or professional employee from federal overtime pay requirements. The release states, “Effective July 1, 2024, the salary threshold will increase to the equivalent of an annual salary of $43,888 and increase to…

April 2024 Newsletter

April 15, 2024

Now that tax season is drawing to a close, it may feel like a good time to declutter the accumulated piles of paperwork, but there are some recommended guidelines to be aware of before you discard any official documents.

How To Handle Cyberattacks

April 15, 2024

Every worker in a company has a part to play in pulling together to combat potential cyberattacks. Vigilance must extend well beyond the IT department, as employees themselves constitute a first-line defense in a firmwide effort to ward off breaches. Criminals hunt for customer information, financial records, trade secrets, and intellectual property data. As companies…

Payroll Myths Exploded

April 15, 2024

Are there any misconceptions that you’ve had about payroll? Did you end up finding out the reality of the situation after experiencing a series of unfortunate events? Hopefully, your answer is no, but whether or not you have been duped by nonfactual information, staying informed is the key to protecting yourself. So, keep reading for…