The Social Security Administration recently announced their annual inflation changes to the Social Security wage base, annual wage cap, and benefit amounts that will be effective January 1, 2023. These 2023 inflation increases are the largest percentage increases since 1981 and the fourth-largest increase ever for the Social Security program.
This webinar recording from November 30 provides an overview of the lease accounting standard and a demo of our software solution designed to ease the burden of implementation for your organization. We will also address some of the common pitfalls, business implications, possible financial benefits, and more.
The IRS recently warned employers to beware of advertisements and solicitations that promise tax refunds that seem too good to be true. They promise business owners lucrative tax refunds from the Employee Retention Credit through filing amended payroll tax returns.
Plan sponsors have a fiduciary responsibility to understand cybersecurity risk in an employee benefit plan (EBP). In order to satisfy this responsibility, plan sponsors must understand how EBPs are exposed to cybersecurity risk and design effective controls to mitigate that risk.
The IRS announced its annual inflation adjustments on October 18 in Revenue Procedure 2022-38. As expected due to soaring inflation over the past year, the tax adjustments are significant this year with most adjustments increasing around 6 to 7 percent.
Learn about the Family Love Letter, a family-owned business planning tool that bridges understanding and informational gaps from one generation to the next.
IRS announces new Hurricane Ian tax relief and a new February 15, 2023 tax deadline for all individuals and businesses in both North Carolina and South Carolina.
The VSCPA has released four free resource guides for nonprofit organizations to aid them in financial matters. Updated by specialists on the PBMares Not-For-Profit Team, topics include budgeting, income tax issues, responsibilities and risks, and auditing.
Opportunity Zones could be getting an extension with several additional changes. Real estate investors, even those who perhaps didn’t qualify before, will want to take a second look at the second Act for Opportunity Zones.
Millions of Americans will avoid paying more for healthcare next year, thanks to the Inflation Reduction Act. Employers need to be aware of potentially higher penalties related to the family glitch, and individuals can take steps to project income and avoid paying back excess tax credits.
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