Author name: Cecilia Gulizia

What Is an Employee Stock Ownership Plan? Specifically, an ESOP is an employee benefit plan that allows businesses to sell off ownership shares of the company directly to employees. Typically, these company shares are acquired through an employee retirement account; when the worker decides to retire or otherwise leave the company, the business buys the […]

Potential consequences of improper data management Failure to manage your data effectively can lead to the following consequences, including missed opportunities, inefficiencies, and even business-ending events. Poor decision-making: Imagine navigating the roads using a faulty map. You’re bound to end up in the wrong place. Without accurate data, you will be charting a flawed business

Does your business suffer from… Sluggish network speeds causing frequent downtime, hindering employee productivity? Slow response times and unreliable online services that are frustrating customers and leading to dissatisfaction? Operational disruptions affecting critical business processes and creating inefficiencies? Technological deficiencies reducing competitiveness in the market? An underperforming network requiring additional IT support, increasing operational costs

What Is a Balance Sheet Specifically, a balance sheet is a document that is meant to give business owners, accountants and even investors/creditors a better idea about a company’s financial health at any given time. Most businesses produce a balance sheet on a quarterly basis as a means of keeping tabs on their progress and

Delay of Limits on Tax Deductions TRAFWA would delay the implementation of two significant provisions of the Internal Revenue Code (IRC) that affect business tax deductions. Capitalization of Research Expenses under § 174 Section 174 of the IRC bars taxpayers from deducting “specified research or experimental expenditures” (SRE) during the tax year that they incur

Mastering your cyber insurance claims   Here are some key steps to optimize your coverage:   Thorough policy understanding Delve into the nuances of your policy. Scrutinize terms, conditions and coverage limits. Identifying inclusions and exclusions aligns your expectations effectively, empowering you to grasp the extent of protection offered. Precision in application Accuracy is paramount

Changes to Form 5500   Form 5500 is a collaborative project by the DOL, the IRS and the Pension Benefit Guaranty Corporation (PDGC). It provides a single document the EBPs can use for the reporting requirements under the Employee Retirement Income Security Act (ERISA) of 1974. Calling it a “single” document seems misleading, of course, considering

The Inflation Reduction Act and Its Impact on Nonprofits   Under the Inflation Reduction Act of 2022, nonprofit organizations have the opportunity to receive credits for the production of investment in electricity from renewables or clean energy, including the purchase of qualified commercial “clean” vehicles.   More specifically, the Inflation Reduction Act includes 12 different credits that