Moving You Forward
As you navigate this new business environment, leaders need the right guidance and direction to move forward. Tap into our customized tax, audit, accounting and business advisory solutions to help you recover from disruption and grow stronger. Contact a PBMares advisor today.
RECENT INSIGHTS:
Charitable giving: Planes, boats and automobiles
Substantiating charitable contributions of planes, boats, and automobiles differ from other types of non-cash gifts.
PBMares Adds Eight New Partners
PBMares, LLP is excited to announce eight new partners effective January 1, 2025. This expansion enhances expertise across key practice areas, including government contracting, construction and real estate, not-for-profit, risk advisory, and outsourced accounting.
PBMares Announces Merger with Fairfax-based BSB CPAs + Advisors to Expand Market Presence in Northern Virginia
PBMares, LLP is excited to formally welcome new partners, team members, and clients from the merger with BSB CPAs + Advisors. The merger took place on October 1, 2024 and the two firms officially joined as of January 1, 2025. Five new partners and 36 new employees joined PBMares in the combination.
Roth Employer Contributions
Roth elective deferral contributions have been permitted in qualified retirement plans since 2006. Section 604 of SECURE 2.0 provided for an optional provision that allows employees to designate their employer contributions, whether it be matching nonelective, as Roth. This applies to 401(k) Plans and 403(b) Plan. This was effective December 29, 2022; however, several challenges delayed implementation of this provision.
Common Scams Targeting Construction Companies
External fraud costs the construction industry up to $1 billion annually, with scams targeting high-value materials, supply chains, and tight project timelines. To mitigate risks, construction companies can implement preventive measures like enhanced site security, supplier screening, and strong internal controls.
The Importance of Cybersecurity Resiliency for Nonprofit Organizations
Cybersecurity resiliency is important for nonprofits. An organization that has strong cybersecurity resiliency protects its sensitive data and ensures that it can fulfill its mission without interruption.
