Best Practices for Benefit Plan Audits

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Topics:BenefitsCPA FirmsEstate PlanningExpertiseIncome
Benefits

Best Practices for Benefit Plan Audits

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Companies and organizations that sponsor employee benefit plans, such as 401(k)s, may have to undergo a benefit plan audit if they meet certain criteria. There is a big change coming for the 2023 plan year regarding how to determine when an audit is required. This also makes now a good time to share some commonRead More
Income

Is the Sale of S Corp Stock Counted as Ohio Business Income or Not?  Here’s How Ohio House Bill 515 Clarified the Answer 

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Maximizing your business income deduction is critical, especially to owners of “pass through entity” businesses such as sole proprietorships, partnerships, and S corporations. While the law governing this deduction in Ohio hasn’t changed, Ohio House Bill 515 (HB 515), which went into effect September 23, 2022, clarified some things. Why is this important? In recentRead More
Estate Planning

2026 Changes to Estate and Gift Tax Limits May Impact Your Current Estate Plan

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When contemplating estate planning, it’s important to be aware of estate and gift tax limits. In 2023, the amount an individual can gift within their lifetime (or upon their death), without tax consequences, is $12.92 million. This is an $860,000 increase from 2022. The amount typically increases each year based on inflation. The current “high”Read More
CPA Firms and Expertise

5 Things to Know Before You Hire a CPA Firm