By Christopher Migliaccio, JD, Managing Director The Employee Retention Credit (ERC) is a valuable tax credit provided by the U.S. government to offer financial assistance to businesses that were negatively … The post Don’t Be Fooled: Employee Retention Credit Scams appeared first on PKF Mueller.

Whether you are the executor of a decedent’s estate or a beneficiary named to receive the assets of a person who has passed away, it is critical you understand your responsibility to report the tax basis of inherited property consistently with the fair market value on the date of death. Failure to do so can […] The post Navigating Estate Basis Consistency Reporting Requirements for Inherited Property by Sarah Gaymon, CPA appeared first on Berkowitz Pollack Brant Advisors + CPAs.

Reading time: 4 minutes As Baby Boomers continue to retire and transition ownership in their companies either to family members or outside buyers, another type of transaction is emerging as an option – an employee stock ownership plan, or ESOP. In the construction industry, where the market for third-party buyers can be limited, an ESOP … Continued The post ESOPs Provide Construction Companies a Strong Transition Option first appeared on JLK Rosenberger.

In recent years, many workers have become engaged in the “gig” economy. You may think of gig workers as those who deliver take-out restaurant...

Reading time: 1 minute 30 seconds The IRS recently announced an inflation adjustment increase in the maximum contribution limits for Health Savings Accounts (HSAs) for 2024, detailed in Revenue Procedure 2023-23 (RP-23-23). What are the inflation adjustments for 2024? For individuals with self-only coverage under a high deductible health plan – the limitation is $4,150 … Continued The post HSA Maximum Contributions Increase Again in 2024 first appeared on JLK Rosenberger.

Passed as part of the Consolidated Appropriations Act of 2023, the SECURE Act 2.0 facilitates important retirement plan reforms. Many of the changes are designed to make it easier for workers to access and participate in employer sponsored retirement plans. Concurrently, there are other provisions designed to encourage employers to offer plans with automatic enrollment … Continued The post SECURE Act 2.0 Changes Impacting Employers in 2024 first appeared on JLK Rosenberger.