Blog

What to Consider Before Teaming Up

April 23, 2018

As a result of rising facility costs, many nonprofits throughout the United States are beginning to consider shared workspace arrangements. This is of particular interest in areas where organizations are being priced out of the real estate market. Nonprofits who are looking to cut operating costs can also benefit from such a move. Options to…

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non profit accounting

Nonprofits Get a Bag of New Rules from Tax Overhaul

April 17, 2018

On December 22, 2017, President Trump signed the massive federal income tax overhaul into law. With this, a higher standard deduction was realized. Much was made of the concern of nonprofits that this would lessen incentives for charitable giving. While this is important, the new law also includes a number of other provisions that could…

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employee benefits 401k

New Tax Law Has Implications Related to 401(k) Loans to Participants

April 3, 2018

By Angela Juvelis, CPA, Senior Audit Manager Many employer-sponsored 401(k) plans allow for participants to borrow against their vested account balance as a “loan to participant.” Loans to participants are legally enforceable agreements, which also carry tax ramifications when repayment is not adhered to per the Internal Revenue Code and plan rules. Passage of the…

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The Enemy Within: Preventing Employee Fraud

February 27, 2018

How Can You Prevent Employee Fraud? One of the biggest challenges of detecting, investigating and preventing employee fraud is the fact that there are so many types of fraud and theft that require different methods for discovery. Every department presents opportunities for employee theft, although it’s been widely reported that a disproportionate percentage of theft…

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employee benefits

How to Make the Most of Your Defined Contribution Plan

February 27, 2018

Most of us will depend on defined contribution plans, such as 401(k) or 403(b) plans, to fund much of our retirement. If this includes you, it’s important to understand how to make the most of the money you’re saving — both short- and long-term. Here are some tips. Stay on Top of Matching Contributions Many…

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Why Adding a Roth 401(k) Option Could Boost Employee Savings

February 26, 2018

A decade after they first became available, Roth 401(k) plans are now offered by many employers. Based on a Harvard study, employees are also getting on board without fully understanding how they work, especially the younger ones. Roth 401(k) vs. Roth IRA vs. Traditional 401(k) Similar to the Roth IRA, the Roth 401(k) plans operate…

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