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Giving Back: Our One Good Deed Referral Program

Posted by Emily Taibl on Feb 20, 2020 6:01:01 PM

At Sweeney Conrad, we feel extremely fortunate to be a part of such a vibrant, generous, and supportive community. To that end, in late 2016, we developed our One Good Deed Program to give back, thank our referral sources, and nurture our referral relationships.

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Topics: Sweeney Conrad Community, Sweeney Conrad Passion

Final Hardship Distributions Issued

Posted by Wende Wadsworth, Audit Shareholder on Feb 4, 2020 7:33:57 PM

In September, the IRS and the Treasury Department issued final regulations that make a number of significant changes to the rules that apply to hardship distributions from 401(k) and 403(b) retirement plans. These regulations respond to public comments that were made regarding earlier proposed regulations.

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Topics: Audit & Assurance, Employee Benefit Plans

Checklist: Preparing Your 2019 Documents for Tax Season

Posted by Tenly Krakoff on Jan 23, 2020 5:18:58 PM

It’s the end of January which means it is almost tax season.   At this point, tax documents have probably started showing up in your mailbox.  While it may seem like there is plenty of time, the sooner and more organized you can make your documents, the smoother the process will be.

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Topics: Tax

What You Need to Know: New Law Creates Workforce Education Investment Surcharge

Posted by Chris LeRoux, CPA on Jan 16, 2020 8:45:58 PM

This year on January 1, a new law put the Workforce Education Surcharge into effect. This means that a new three-tiered surcharge applies to the amount of tax payable under the Service and Other Activities B&O tax classification by businesses “primarily engaged” in one or more specific activities.

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Topics: Tax

Sweeney Conrad Celebrates 40th Anniversary in 2020

Posted by Emily Taibl on Jan 9, 2020 3:22:44 PM
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Topics: Sweeney Conrad People, Sweeney Conrad News

The SECURE Act: 10 Things to Know About How it Affects Your Retirement

Posted by Kyle Lynch, CPA and Patrick Pisani on Jan 9, 2020 12:46:00 PM

On May 23, 2019 the House voted 417-3 to pass legislation intended to help individuals save for retirement, encourage them to participate in retirement plans, and make it easier for small businesses to offer tax-qualified plans to their employees. The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) passed the Senate December 19th and was signed by President Trump on Dec. 20. It is the largest piece of legislation affecting retirement plan rules since the Pension Protection Act of 2006. Many of the act’s provisions become effective on Jan. 1, 2020 and all retirement plans must adopt the law by 2022. As with any new law, not all of the details are clear yet, but below is a high-level summary of what you should know:

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Topics: Sweeney Conrad News, Tax

How to Avoid Operational Errors Associated with Eligible Compensation

Posted by Wende Wadsworth, CPA on Jan 8, 2020 12:27:59 PM

When they hear the term “employee compensation,” most business owners think about base salary. But there are also other types of compensation that businesses may use as employee payment, such as bonuses, commissions, tips, overtime, car allowances, and even non-cash wages like gift cards and company stock.

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Topics: Retirement Reporter

2019 Year-end Year-round Tax Planning Guide

Posted by Emily Taibl on Dec 18, 2019 1:38:54 PM

Our 2019 tax planning guide is here. This practical guide contains:

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Investment Properties Offer Owners an Incredible Number of Tax Saving Opportunities

Posted by Will Park, CPA on Nov 7, 2019 11:32:20 AM

When you sell real estate, you generally have to pay tax on the gain at the time of sale. Section 1031 or a “Like-kind exchange” provides an exception and allows investors in real estate to postpone paying taxes on the gain if the proceeds are reinvested in a similar property as part of a qualifying like-kind exchange. Simply put, you are investing in your future with tax deferred income.

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Melanie Abigania Named Shareholder at Sweeney Conrad

Posted by Emily Taibl on Nov 4, 2019 3:27:24 PM

We are excited to announce that Melanie Abigania has been promoted to Shareholder, one of 12 fall promotions. Melanie started at Sweeney Conrad in January of 2005, and has spent the past 14 years specializing in tax compliance, consulting, and planning for high net worth individuals, trusts, and estates.  She is passionate about advising her clients, assisting them on small business issues, income tax planning, and estate and gift tax planning, and helping them figure out complicated tax lingo.  Her clients operate in industries including real estate development, professional services, wholesale and manufacturing.

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