09.23.22

Tax Implications of Buying and Renting Out Units in an Owner-Occupied Multi-Unit Building
Joshua Goldschmidt

If you have ever considered buying a multi-unit building and renting out one or several units you are not alone. Potential positives to these properties include that real estate often increases in value, they may qualify for residential loans, they may be easier to manage due to being under one roof and these properties offer […]

09.22.22

It Is Time To Vote: Watch Out for IRS Limits on Not-For-Profit Political Activities
Charles J. Burke

The mid-term elections are almost here, and jockeying for the 2024 elections is not far behind. That makes this a good time to review the IRS rules regarding Section 501(c)(3) organizations and political activities. Noncompliance can lead to costly excise taxes and jeopardize your organization’s tax-exempt status. General prohibition The IRS is clear: Sec. 501(c)(3) […]

09.21.22

Nine Tips for Combating the Restaurant Labor Shortage
Thomas Pierce

One of the biggest challenges restaurants face today is the continuing labor shortage. In a recent survey by the National Restaurant Association, 65% of restaurant operators reported that they do not have enough employees to support customer demand. Although the right strategies for addressing the labor shortage will depend on your restaurant’s particular facts and […]

09.13.22

Understanding Your 401(K) Plan Compliance Testing

The Employee Retirement Income Security Act of 1974 (ERISA) requires plan sponsors of qualified retirement plans, such as a defined contribution plan or 401(k) plan, to act solely in the interests of participants and their beneficiaries. This means that the plan sponsor, as a fiduciary, must ensure that the plan itself does not discriminate in […]

09.12.22

Preparing for New Cryptocurrency Reporting Rules
Adam J. Pechin

If you have invested in cryptocurrency (for example, Bitcoin or Ether), nonfungible tokens (NFTs) or certain other digital assets, it is important to familiarize yourself with the new tax reporting requirements that take effect in 2023. The new rules will not increase your taxes. Instead, they are designed to help the IRS identify unreported digital […]

09.01.22

M&A Could Be the Next Challenge for Plan Sponsors… Are You Ready?

Despite fears over the COVID-19 pandemic, companies took advantage of low-interest rates to create an unprecedented increase in mergers and acquisition (M&A) activity in 2021.  Company retirement plans and their participants are typically an afterthought when M&A activity is happening at such a rapid pace. It is important to focus on a few areas that […]

08.30.22

Insourcing, Outsourcing, and Co-Sourcing: Which Is Right for You?

Conventional wisdom often holds that it is most efficient to keep all roles in-house, but this is not always the case. Rising labor costs, increased costs to meet advancing technology needs or equipment improvements, internal quality control issues and a number of other factors could dictate certain operations to be handled more effectively and efficiently […]

08.17.22

Greening Your Projects Can Bring In More Green
Justin L. Sylvan

Whether you are developing commercial or residential projects, tenants and future owners are increasingly prioritizing environmentally-friendly features. Businesses with a strong focus on corporate social responsibility are increasingly expecting a better indoor environment, lower operating costs and enhanced market value for their spaces. To avoid falling behind the competition, you need to stay on top […]

08.16.22

Tax Compliance: Understanding Tax Issues With Auctions

Auctions can be an effective way to raise funds at your not-for-profit organization’s fundraising events. However, preparing for an auction involves more than fun and games. Here are some suggestions that can help ensure that your organization does not run afoul of tax requirements. Related Read: Holding an Auction? Be Sure to Comply Acknowledge donated items […]

08.10.22

Trusts – What Is the Hype?
Tanya Gierut

Whether you are trying to protect your assets from possible creditors, prevent young heirs from spending their inheritance or minimize estate taxes, there is likely a trust for you. Here are several strategies that can help you achieve your estate planning goals. Protecting assets from creditors A trust can be a great way to protect […]