The SECURE 2.0 Act of 2022 includes over 90 provisions that have implications for retirement plans. Here are some of the changes that will be more impactful to retirement plans and plan sponsors.
2022 proposed changes to the Davis-Bacon Act could have complex implications for federal construction contractors, who are already dealing with prevailing wage requirements from recent legislation.
In a previous article, we outlined the background, benefits, and challenges of PTE tax (PTET) regimes. In this article, we address core considerations and planning opportunities.
The pandemic and the resulting changes in employee work routines and locations have created a potential cost-allowability issue that many government contractors have not previously encountered – potential idle facilities and/or idle capacity.
Designed to eliminate the adverse impacts of the SALT cap, the Pass-Through Entity Tax (PTET) is an optional state income tax that taxpayers may elect to use. However, before deciding whether a PTET election is the right move, there are a variety of issues to consider.
High-income retirees pay more in monthly Medicare premiums, but with careful planning – and an appeal when necessary – the premiums can potentially be reduced.
Nonprofit compliance requirements vary from state to state. Private foundations, agencies, and other grantors often have their own requirements, too. It’s important for organizations to understand what these are before accepting any funding.
Starting August 1, 2022, Form 990-N filers – small nonprofits – are required to use a more streamlined, modern online filing system. ID.me, the IRS’s ID authentication system, will be required for new users.
Learn about unallowable costs and what determines a costs' allowablility. We also provide a listing of FAR and DFARS clauses that are considered to contain expressly unallowable costs subject to penalties.
Construction contractors and other taxpayers can maximize year-end tax planning with the 100% meals deduction, which will be reduced to 50% on January 1, 2023.
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