Oct 28, 2020 | Audit, Blog, Cybersecurity, Now You Know
Now is the time to evaluate your organization’s cybersecurity. Cybersecurity encompasses everything related to protecting against criminals who attempt to steal or damage sensitive data. Due to the combination of the significant increase in remote working and the...
Oct 23, 2020 | Audit, Blog, Now You Know
In the last couple of years, the IRS has engaged in an audit initiative involving executive compensation and fringe benefits. The focus began with large corporations and has now moved to smaller companies, too. Because executives often receive more than a paycheck for...
Oct 20, 2020 | Blog, Now You Know, Tax
Due to the economic impact of COVID-19, many find themselves looking for ways to make their money go further. Reducing debt can be beneficial as it limits the amount paid to interest, and some lenders may be willing to forgive (or cancel) debts that are owed by...
Oct 7, 2020 | Blog, Now You Know, Tax
During the COVID-19 pandemic, some cash-strapped employers may fail to pay the U.S. Treasury the federal income and employment taxes their organization withheld from employee paychecks. The IRS issues a 100% penalty against any person deemed responsible for this major...
Sep 22, 2020 | Benefit Plans, Blog, Now You Know, Tax
Economic fallout from the COVID-19 pandemic may cause some cash-strapped individuals to consider taking loans from company qualified retirement plans, including 401(k) and profit-sharing plans. Although this option can provide cashflow to help bridge the gap for some,...
Sep 15, 2020 | Audit, Blog, Now You Know
In an effort to limit the spread of COVID-19 as we reengage with individuals outside of our homes, state health departments have enlisted the aid of contact tracers to track anyone who may have been exposed to COVID-19. Unfortunately, some scammers pretend to be...