Mutual funds – a common investment for employee benefit plans

Most 401(k) plans offer their participants a variety of investments and most of these line ups include mutual funds. The risk associated with mutual funds range from conservative to aggressive. They are comprised of pools of money collected from investors that is then invested in a variety of securities (such as stocks, bonds or cash). …

Keep Reading

Predictive Analytics – What will happen?

Predictive analytics is the utilization of analytics to forecast what will happen in a business. Predictive analytics is the usage of everything gathered in descriptive and diagnostic analytics along with the continued use of modeling, machine learning and risk assessments to make predictions about future events/trends by scoring data and forecasting. Predictive analytics are generated …

Keep Reading

Diagnostic Analytics – Why did it happen?

Diagnostic analytics uses analytics to describe why something happened. Diagnostic analytics takes the development of descriptive analytics a step further and is generating a root cause analysis to see: What caused the company’s sales last month, last quarter, last year to increase or decrease? Why were there changes in the company’s largest customer? Why were …

Keep Reading

Descriptive Analytics can help you answer “What happened?”

Descriptive analytics is the utilization of analytics to describe what happened. Generally, descriptive analytics entails the gathering of historical data/transactions and using this data to answer questions about the past and provide context to historical activity. Questions like: What were the Company’s sales last month, last quarter, last year? Who were the Company’s largest and …

Keep Reading

10 facts about capital gains and losses

The term “capital asset” for tax purposes applies to almost everything you own and use for personal or investment purposes. A capital gain or loss occurs when you sell a capital asset. Don’t miss: Owe money? File your tax return on time even if you can’t pay. Here are 10 facts from the IRS on …

Keep Reading

Owe money? File your tax return on time even if you can’t pay.

The IRS expects every taxpayer to file tax returns and pay their tax obligations in a timely manner. For most, this means by April 15. However, the amount owed can sometimes take you by surprise, and you may not have the necessary cash on hand to pay the full amount of tax by that deadline. …

Keep Reading

401(k) plan options for eligibility requirements

During the 401(k) plan design process, there are lots of things to consider. One of them is the eligibility requirements to participate in the plan. Who is allowed to participate in the plan? This can have a dramatic effect on the plan’s cost, ease of administration and perceived value to prospective employees. The eligibility requirements …

Keep Reading

Recently moved? Be sure you do this.

When COVID-19 hit the U.S. earlier this year, millions of employees were told to pack up their things and work from home. Without having to commute to work each day, many have decided to pack up their homes and move out of the “big city” for a lower cost of living. If this sounds familiar, …

Keep Reading

Using your car for gig work could cost you big

A few years ago I thought I’d make some extra cash driving for UBER on my days off. I signed up on their platform, went through their car approval process and got the sticker in the mail. I never actually drove for them, but when I was in a car accident last year I answered …

Keep Reading