The Corporate Transparency Act In an era marked by increasing economic interconnectivity, transparency in corporate practices has become a critical aspect of ensuring fair and ethical business conduct. Signed into law on January 1, 2021 as part of the National Defense Authorization Act, the Corporate Transparency Act (CTA) seeks to enhance corporate transparency by addressing… [keep reading…]
EFAST Login Changes – What You Need To Know
New ERISA Credentials Requirement: In an effort to enhance security and protect the integrity of Form 5500 filings, the Department Of Labor has introduced a new credentialing process for individuals signing the form. This credentialing process ensures that only authorized individuals with the appropriate qualifications and knowledge of ERISA regulations can sign off on these… [keep reading…]
Changes That Could Impact Your Employee Benefit Plan
Staying informed of these changes is important to maintain compliance. Participant Count Change The rules that dictate if a defined contribution employee benefit plan must include an audited financial statement with the Form 5500 filing are based on the employee count. For an employee benefit plan to require an audit, the plan must be a… [keep reading…]
Common Board Governance Mistakes
Board governance can directly impact how effective and successful a nonprofit organization can become. Governance relates to fulfilling the nonprofit’s mission as well as ensuring its sustainability. Whether you’re a long-standing member or newly elected, it can be easy to succumb to common mistakes that occur through governing a nonprofit. Below are a few common… [keep reading…]
Additional ERC Considerations for Auto Dealerships
The Employee Retention Credit (ERC) is one of the most powerful tax incentive programs available to businesses that we have ever seen (or will likely ever see again). The ERC has provided billions of dollars of much needed relief to thousands of businesses across the country that were impacted by the pandemic. While auto dealerships… [keep reading…]
Tips to Help You Save for Retirement
Although retirement may be years away, the steps you take today to plan and save for it can make a big difference in your financial security decades from now. Here are 10 general tips that you may find helpful when saving for retirement. For specific advice about planning and saving for retirement, please consult your… [keep reading…]
6 Things You Can Accomplish with an Estate Plan
If you haven’t set up an estate plan yet, there is no time like the present to get started! Estate planning is the process of planning how your assets will be handled after you pass away or become incapacitated. It typically involves discussing your specific goals with an estate planning attorney who can tailor a… [keep reading…]
March 19, 2023 – Rob Kind, Managing Shareholder, in the Albany Business Review
How Albany-are companies are handling cash management after SVB fall “In the last week with what happened out in California, now people are wondering do I have too much cash in one place and is it safe,” Kind said. “Conversations have changed from, ‘Make sure you get a good return on your cash.’ To, ‘Where… [keep reading…]
10 Financial Things to Review Annually
A lot can change in a year. Your financial goals may change. Your investment mix may shift. Your insurance needs may be different. Because things change, it’s important to look over your finances every year or so to determine whether there are any adjustments you may want to make to help keep your finances on… [keep reading…]
Seeing the Big Picture with Your Business Exit
By: Stephen L. Ferraro, CPA/ABV/CFF, CEBC, MAFF, CVA Partner, Ferraro, Amodio & Zarecki CPAs The success of exiting a business depends greatly upon the mental perspective and preparation of an owner during the exit process. Business owners tend to fixate their thoughts only on running and growing their business. However, there is a tremendous amount… [keep reading…]