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Recent data from Ameriprise Financial indicates that more than a quarter of preretirement couples plan to retire together, and 39% say they plan to stagger their retirements and make their exits more than a year apart. The question is, what does retirement look like for an individual and for a couple? At first, it may […]

The goal of generational wealth is to allow you to enjoy the fruits of your labor in your lifetime and to help your heirs reap benefits as well by enabling them to enjoy a financially secure lifestyle after you’re gone. Generational wealth can pave the way for enhanced educational and financial opportunities for your children, […]

All business owners face the challenges of not only attracting talent but also retaining employees once they are hired. One major way to increase your employee retention rate is to offer a generous benefits package. However, that’s a lot easier said than done for small businesses. Meanwhile, large companies offer these types of benefits as […]

Retirement plans are becoming more supercharged. Auto-enrollment and other key provisions are being phased in, meaning big changes are on the horizon for both employees and employers. Click through for more information about these changes and key details regarding the Setting Every Community Up for Retirement Enhancement Act 2.0. https://newsletter.homeactions.net/archive/full_article/15819/11151665/5018187/175299?fbclid=IwAR3VD…

As the Wall Street Journal pithily summarizes it, “Higher earners age 50 and up will get two more years to use pretax dollars for all of their retirement savings in 401(k)s and similar plans, after the Internal Revenue Service delayed a new requirement.” The IRS has announced an administrative transition period that extends until 2026 […]

According to the IRS, a moratorium on processing of new ERC claims through year’s end will allow IRS to add more safeguards to prevent future abuse, to protect businesses from predatory tactics. The pandemic-era relief program is a refundable tax credit designed for businesses that continued paying employees during the COVID-19 crisis. In a recent […]

The IRS has released an updated version of Forms W-2 and W-3. These new forms can be filed electronically on the SSA’s Employer W-2 Filing Instructions and Information web page. This service offers fast, free and secure online filing options to CPAs, accountants, enrolled agents and individuals who process these forms. Fill-in versions may also […]

Passed in December 2019, the SECURE Act makes it easier and less expensive for business owners to establish and administer new qualified retirement plans, such as a 401(k) Plan, Profit Sharing Plan, Defined Benefit Plan and SEP-IRA. Read on to learn more about the SECURE Act of 2019 and new available options. For many years, […]

The explosion in online transactions and cloud-based record keeping has put employer-sponsored retirement plans at increased risk of exposing personally identifiable information (PII) – which is legally protected from disclosure. How can plan sponsors and service providers balance fiduciary standards with the need to store and share personal data as part of their daily operations? […]