Are Your Fund Offerings Affecting Participation in Your Retirement Plan?

The answer is…possibly. After reading the title of this blog, you may have initially thought that eligible employees may be put off by an inadequate number of fund offerings; however, if there are too many fund offerings, some employees may become confused and, as a result, not enroll in the plan. A recent joint study …

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Discounts in Marital Dissolution Business Valuations – To Discount or Not

After 15 years of marriage, Art and Wanda were getting divorced.  Among all the assets that had to be distributed was the family business, a heating, ventilation and air conditioning repair company.  Husband was the operator of the business.  Wife took care of the kids and managed the household.  Now Husband was faced with having …

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401(k) Employer Matching

Does your 401(K) Plan offer an Employer matching contribution to employees?  Are you a Plan administrator?  How comfortable are you with the Employer match made each year or each pay period?  Theoretically, there should be no mistakes in the Employer match because you use a third party payroll provider who has a systematic process for …

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Discount for Lack of Marketability Job Aid for IRS Valuation Professionals

WHAT NEW DOCUMENT ARE IRS REVIEWERS USING TO ASSESS DISCOUNTS FOR LACK OF MARKETABILITY? A Two Hour Webinar on Tuesday, August 23rd Will Answer This Intriguing Question The “Discount for Lack of Marketability Job Aid for IRS Valuation Professionals,” (“IRS DLOM Job Aid”) has recently come to our attention, and we are excited to be …

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Remitting Contributions Timely

The Department of Labor regulations states that employee contributions should be remitted to the plan as of the earliest date on which such contributions can reasonably be segregated from the employer’s general assets, but no later than the 15th business day after the end of the month from the date on which such amounts are …

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The differences between GAAP, cash basis and modified cash basis of accounting

Generally Accepted Accounting Principles in the U.S. (GAAP) are just that – generally accepted. However, it’s not the only choice of accounting basis available to nonprofit organizations, and many organizations select another basis of accounting. There could be many reasons for presenting a different basis, one being that it may be more in line with …

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