The Future of the SALT Cap: Ways You Can Prepare Now for Potential Scenarios
The SALT deduction's future is uncertain ahead of its scheduled sunset at the end of 2025. Here's how taxpayers can prepare for potential outcomes.
Mitigating Governance and Leadership Risks in Nonprofits: Strengthening Foundations for Long-Term Success
In the nonprofit world, governance and leadership are the cornerstones of organizational success. Learn about some common governance and leadership risks that nonprofits must address to ensure long-term sustainability.
SECURE 2.0 Act – Increased Involuntary Cash-Out Limit to $7,000
Learn about the SECURE 2.0 involuntary cash out limit increase. Effective for distributions after December 31, 2023, SECURE 2.0 allows the plan sponsor to increase the cash-out limit to $7,000 from the previous limit of $5,000.
Understanding Financial Risk in Nonprofits: Navigating Challenges for Long-Term Sustainability
Financial risks are an unavoidable reality for nonprofit organizations, but with strategic planning and a proactive approach, these risks can be managed effectively. Learn how your organization can address these risks head-on to achieve long-term sustainability and make an even greater impact.
Hurricane Helene: Deadline Extensions, Penalty Relief, and Insights from the PBMares Tax Team
The IRS took action quickly after Hurricane Helene traveled 400+ miles, claiming lives and wreaking havoc in the Southeast. Learn about the important information regarding deadline extension and penalty relief.
Higher Catch-Up Contribution Limit Coming in 2025
Section 109 of SECURE 2.0 provided for a higher catch-up contribution limit beginning in 2025 for participants in a 401(k) or 403(b) plan for a specific population of employees.
SECURE 2.0 Act – Mandatory Automatic Enrollment
Learn more about what is needed for retirement plans. For plan years beginning on or after January 1, 2025, SECURE 2.0 requires certain plan sponsors of a 401(k) plan or 403(b) plan to adopt automatic enrollment provisions.
IRS Extends Tax Filing Deadline for Taxpayers in North Carolina
IRS grants disaster relief to taxpayers located in North Carolina. Affected taxpayers have until May 1, 2025, to file returns and make payments.
A Case Study: Client Boosts Customer Satisfaction & Revitalizes their Financial Reporting Process by Outsourcing the Accounting Function
Learn more about outsourcing all or part of your accounting or finance function.
Tax Compliance Considerations for U.S. Companies Hiring Foreign Remote Workers
Today’s U.S. companies are finding many benefits to hiring remote employees from around the globe. However, along with those benefits come a myriad of tax compliance considerations. learn about a few of those considerations and practical solutions so companies can proactively prevent problems and ensure compliance.