Getting an early start to your taxes can help you minimize your tax burden, increase deductions, and avoid the end of the year scramble. Read more
An ESOP is also not an Employee Stock Option Plan. It is a defined contribution retirement plan established under section 401(a) rather than 401(k) and has two major differences. It must invest primarily in stock of the sponsoring company, and can borrow money to do so. The name is very misleading since the employees never own any of the company stock.
An ESOP is not a do-it-yourself endeavor. The creation is complicated. The ESOP must conform to the laws and regulations of both ERISA and the IRS, and is overseen and regulated by the Department of Labor. Dealing with one government agency is bad enough. Dealing with three of them is horrific.
The best way to reduce your risk of an audit is to keep thorough, accurate records and file on time. Read more
This webinar will break down the whole universe of the CARES Act programs, how they fit together, and what they are designed to do - in SIMPLE terms. Read more
Make sure you’re not missing out on the 10 most common tax deductions that small businesses often overlook. Read more