November 2, 2020 The IRS released updates to retirement plan limits in 2021 last week: 2021 Retirement Plan Limits 2021 2020 2019 401(k),403(b) and 457(b) Deferral Limits $19,500 $19,500 $19,000 401(k) and 403(b) Catch-up Deferral Limits $6,500 $6,500 $6,000 Annual Limitation on Compensation $290,000 $285,000 $280,000 Defined Contribution Limitation $58,000 $57,000 $56,000 …
Thursday, May 14, 2020 By COVID-19 Response Team On May 12, 2020, IRS released Notice 2020-29 announcing that it is permitting increased flexibility for Section 125 cafeteria plan midyear elections for employer-sponsored health coverage, flexible spending accounts (FSAs), and dependent care, along with clarifying that high deductible health plans (HDHP) can provide coverage for telehealth …
By Susan Burnoski, CPA | Principal, Audit & Assurance Congress recently signed into law the Setting Every Community Up for Retirement Enhancement (SECURE) Act, resulting in easier savings for retirement and expanding access to more Americans. Retirement experts are calling the SECURE Act the most comprehensive retirement legislation over the last 10 years. The SECURE …
With regulations for providing healthcare plans to employees changing what seems like daily, we have two experts talking to us today about how business owners can wrap their heads around employee sponsored healthcare plans. Sue Peirce and Susan Burnoski join Chuck & Brittany today to tell us the requirements for offering healthcare to employees, how …
By Susan Burnoski, CPA | Principal, Audit & Assurance As of January 1, 2020, there are two new health reimbursement arrangement (HRA) alternatives for employers to consider. However, due to notice requirements, you need to begin the process now. Individual Coverage HRA (ICHRA) If the individual purchases ACA-compliant health coverage, an employer of any size …
Apple Growth Partners named Top Workplace in Cleveland.
This article is produced by Apple Growth Partner’s women business owner team – more than 30 female financial professionals dedicated to growing the businesses of women entrepreneurs. Parents of children with different genders know all too well how distinct girls and boys can be to raise. There is no cookie-cutter pattern for raising different genders …
Want to empower women in your accounting firm? Do it on their terms. Read More »
by Susan Burnoski, CPA, Director of Audit & Assurance, Senior Manager While the Affordable Care Act (ACA) individual mandate for having health insurance will be eliminated in 2019, the employer mandate to offer health insurance to employees remains. Therefore, employers need to be aware of the reporting requirements to avoid the significant penalties for noncompliance. …
Employers Still Required to Offer Health Insurance – Here’s What You Need to Know Read More »
