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 Future of Commercial Office Conversions and Transforming Workspaces
With changing work habits, increasing demands for flexible spaces, and modifications to urban planning, the conversion of commercial office buildings into new uses has gained popularity. Learn about the future of commercial office conversions and transforming workspaces.
Foreign Corporations Expanding into the U.S.: Preparing the Protective Form 1120-F
Expanding internationally is always an exciting adventure. Before jumping in head-first learn what is important to understand and the ramifications, including tax compliance, when entering the United States markets.
Post-Election Outlook for Foreign-Derived Intangible Income (FDII) Deduction
Foreign-derived intangible income (FDII) deduction, IRC 250 currently allows U.S. C corporations a reduced tax rate for income from goods and services sold to foreign customers. FDII was enacted with the Tax Cuts and Jobs Act of 2017 (TCJA), which reformed the U.S. system for taxing international corporate income. Read this post-election outlook for FDII.
VA Enterprise Zone Program: How the Job Creation Grant Can Help Your Business Grow
The Virginia Enterprise Zone (VEZ) Program, a partnership between state and local governments, offers businesses a unique opportunity to expand their operations while reducing costs. Learn about one of the key incentives provided under this program is the Job Creation Grant (JCG), designed to encourage businesses to create new jobs in designated Enterprise Zones across the state.
