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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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Breaking News: FASB Announces Delays for 3 Major Standards

Posted by Emily Taibl on Oct 18, 2019 1:48:45 PM

This week, the Financial Accounting Standards Board (FASB) announced a delay in the effective dates for standards on accounting for leases, credit losses, and hedging applicable to private companies and certain other entities. 

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Sweeney Conrad Announces 2019 Fall Promotions

Posted by Emily Taibl on Oct 15, 2019 1:51:31 PM

This fall we are excited to announce the promotion of 12 of our team members.

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Best Practices: 6 Ways to Enhance the Budgeting Process

Posted by Emily Taibl on Oct 7, 2019 4:08:33 PM


Every fall, executives and managers undertake a familiar exercise—creating a budget for the coming year. Many dread the process, which can be long and frustrating. But a good budget provides several benefits for business owners:

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4 Reasons Outsourced Accounting May Be Just the Business Solution You've Been Looking For

Posted by Emily Taibl on Oct 7, 2019 3:36:13 PM


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Multiple Employer Plans: New Rules Could Boost Adoption of MEPs

Posted by Emily Taibl on Oct 3, 2019 10:58:22 PM


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