Maryland Department of Labor issues new guidance on Wage Transparency and Paystub Notice obligations
Maryland will have two significant laws go into effect on October 1, 2024. These laws will require employers to provide employees with more upfront information about a job's wage and benefits, as well as, more transparency on paystubs. Read here to ensure your business is compliant.
What you can do to protect your financial future from the recent social security data breach
Over 2.7 billion Social Security numbers were found to be leaked in a recent data breach. Read how to protect your financial future.
Reasons an LLC might be the ideal choice for your small to medium-size business
For many businesses, a limited liability company (LLC) is an enticing choice. It can be structured to resemble a corporation for owner liability purposes and a partnership for federal tax purposes. This may provide the owners with several advantages. Contact the CPAs and business tax advisors at SEK to discuss whether an LLC is the best option for you and your business.
6 tax-free income opportunities
There are ways to collect income and gains free from federal income tax. Contact the CPAs and tax advisors at SEK. Advance planning may lead to better tax results.
Welcome charitable pledges for your nonprofit— and account for them properly
Because pledges are promises to contribute later, not immediate contributions, accounting for them can be challenging. Accounting for pledges’ future value can also require accounting staffers to apply a “discount” rate when reporting them. Contact the CPAs and business advisors at SEK for help with what can be a tricky process.
Let's Talk HR - Tips for conducting a successful job interview
As a manager and leader in your organization one of your key responsibilities is hiring the right people for your team. Below are a few practical tips to help you conduct effective interviews and make informed hiring decisions.
Comparison of Harris and Trump tax policy proposals
Presidential nominees Kamala Harris (D) and Donald Trump (R) are floating proposals ahead of what will be a consequential year for tax, with key provisions from the GOP’s 2017 tax overhaul (Public Law 115-97
Year-end tax planning ideas for your small business
It’s time to take proactive steps that may help lower your business’s taxes for 2024 and 2025. Eligible businesses also may be able to defer income or accelerate deductions to keep income under certain thresholds to claim a qualified business income deduction. Contact the CPAs and business tax advisors at SEK to customize a tax plan for your business.
Filing a joint tax return for the year of a spouse’s death can be beneficial
When a person dies, his or her personal representative (called an executor in some states) is responsible for filing an income tax return for the year of death. In some cases, filing jointly can provide tax savings, such as from a lower tax rate, larger tax credits and higher IRA contribution limits. Contact the CPAs and tax advisors at SEK for more information.
Fundamental differences between nonprofit and for-profit accounting
Your not-for-profit’s new board members and staffers may not necessarily know the differences between for-profit and nonprofit accounting systems, particularly if they come from a corporate background. Contact the advisors at SEK for help explaining nonprofit accounting concepts to your stakeholders.