Oct 23, 2023 | Benefit Plans, Blog
An employee stock ownership plan (ESOP) can facilitate the transfer of a business to the owner’s children or employees over a period of years in a tax-advantaged way. However, the IRS recently issued a statement warning businesses about a range of compliance...
Oct 10, 2022 | Benefit Plans, Blog, Business Valuation, Exit Planning, The Valuation Report
Employee stock ownership plans (ESOPs) provide tax-saving opportunities for business owners who want to cash out and transfer ownership to employees without immediately giving up control of the business. However, valuing stock held by an ESOP is an ongoing challenge...
Sep 26, 2022 | Benefit Plans, Blog
It is not unusual for the IRS to conduct audits of qualified employee benefit plans. Plan sponsors are expected to stay on top of related changes in the tax law. If the tax agency uncovers compliance errors and the plan sponsor does not fix them, the plan could be...
Jun 13, 2022 | Advisory, Benefit Plans, Blog, Tax
With Health Savings Accounts (HSAs), individuals and businesses buy less expensive health insurance policies with high deductibles. Contributions to the accounts are made on a pre-tax basis. The money can accumulate year after year tax-free, and be withdrawn tax-free...
Apr 25, 2022 | Benefit Plans, Blog
If you are a U.S. employer and you offer any kind of pension benefit to your employees, it is critical that you have an understanding of the Employee Retirement Income Security Act of 1974 (ERISA). The failure to know and fulfill your obligations and responsibilities...
Jan 20, 2022 | Advisory, Audit, Benefit Plans, Blog
Receiving a notice that the IRS is auditing an employee benefit plan is news that no employer wants to receive. If your company does get such a notice, knowing what to expect and preparing for the audit itself are the best ways to help the process go as...
