PKF North America News

Earlier this year, the Corporate Transparency Act became effective, requiring certain businesses to report detailed information on ownership. Known as Beneficial Ownership Information (BOI), it includes details on owners that either directly or indirectly control a company.  By collecting this information, the federal government hopes to increase anti-money laundering rules by increasing the transparency of … Continued The post FinCEN Warns About New BOI Reporting Scams first appeared on JLK Rosenberger.

The Secure 2.0 Act now allows employers to include employee’s student loan payments in the employee match calculation, and these matching dollars are tax-deductible to the employer. Although this rule is temporary, matching contributions for 2024 can qualify. The two most common plans that qualify are 401K and Simple IRA plans, and employers can create … Continued The post New Tax-Efficient Assistance for Your Employees with Student Loan Debt first appeared on JLK Rosenberger.

Reading Time: 3 minutes 30 seconds When you think of a CPA, you might picture someone buried behind a desk crunching numbers. But that’s only part of the story for Sona Sefcikova, Audit Supervisor at JLK Rosenberger. A passionate pickleball player, Sona has found a way to integrate the sport into her professional life, using … Continued The post Building Connections on the Pickleball Court first appeared on JLK Rosenberger.

Reading time: 1 minute 30 seconds Construction companies should monitor their AR performance through Key Performance Indicators (KPIs). One common tool for monitoring AR is the Aging Report. This report categorizes outstanding invoices based on how long they have been overdue, typically segmented into 30-day intervals (0-30 days, 31-60 days, and over 90 days). By … Continued The post Monitoring AR Performance Through KPIs first appeared on JLK Rosenberger.

Reading time: 3 minutes Accounts Receivable (AR) refers to the money a business is owed for completed work that has not yet been paid. In construction, the AR function is especially critical due to complex payment structures and the extended time between project milestones and payments. Effective AR management ensures contractors maintain steady cash flow, … Continued The post 9 Tips for Contractors to Optimize Accounts Receivable first appeared on JLK Rosenberger.

Reading Time: 3 minutes 45 seconds The Internal Revenue Service (IRS) and the Department of Treasury recently released updated guidelines on Required Minimum Distributions (RMDs) from Individual Retirement Accounts (IRAs). These final regulations, effective July 18, 2024, largely align with the proposed rules outlined in the SECURE and SECURE 2.0 Act. However, they also address … Continued The post Updated Guidelines Released on Required Minimum Distributions first appeared on JLK Rosenberger.