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Sweeney Conrad Announces 2020 Promotions

Posted by Sweeney Conrad, PS on Oct 30, 2020 5:51:42 AM

 (Kirkland, WA) This week Sweeney Conrad, PS, has announced their fall promotions. This year 20 employees have been promoted:

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Fiduciary Focus: Target Date Funds

Posted by Wende Wadsworth, Audit Shareholder on Oct 27, 2020 2:41:16 PM

Target date funds (TDFs) have become an increasingly popular investment choice for many retirement plan participants. According to a recent estimate by Bloomberg Law, participants currently hold about $1.4 trillion in TDFs.

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Topics: Audit & Assurance

Record Retention: What to Hold, When to Fold

Posted by Wende Wadsworth, Audit Shareholder on Oct 19, 2020 6:59:37 PM

How long must plan sponsors maintain records? The easy answer is: “For a long time.” The more nuanced answer is: “It depends.”

Although ERISA does not specify a penalty for failing to properly maintain records, the same civil and criminal penalties apply as with knowingly violating any other ERISA provision.

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Trump vs. Biden: Proposed 2020 Tax Policies

Posted by Sweeney Conrad, PS on Oct 2, 2020 12:16:04 PM

In the report below, we lay out the tax policies of both of the major presidential candidates. This report was intended to be factual*, nonpartisan, and unbiased. As both candidates’ campaigns evolve, proposed policies may change from what is documented below.

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Why and When to Outsource Accounting

Posted by Dave Miniken on Aug 27, 2020 4:41:29 PM

As companies take a hard look at their expenses, one area to examine is the accounting function. Many companies benefit from outsourcing their accounting, which can be a cost-effective way to get required expertise and flexibility without hiring a full- or part-time employee.

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Internal Controls: What are Your Responsibilities as a Plan Sponsor?

Posted by Wende Wadsworth, CPA on Aug 19, 2020 2:31:34 PM

As the sponsor of a qualified retirement plan, you’re subject to certain fiduciary responsibilities. These include administration functions like maintaining the plan’s financial records and filing an annual report for the plan.

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Topics: Audit & Assurance

Bea Nahon Honored with WSCPA CEO Award

Posted by Emily Taibl on Aug 7, 2020 4:10:08 PM

Sweeney Conrad Principal, Bea Nahon, was recently honored by the Washington Society of CPAs with the 2020 CEO Award for Leadership and Dedication to the WSCPA and the accounting profession in Washington State. This prestigious award recognizes an individual (or organization) who has made a significant contribution to the success of the profession.

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Topics: Tax, Sweeney Conrad People

COVID-19 Recovery: How the Employee Retention Credit Could Improve Cash Flow

Posted by Sweeney Conrad, PS on Jul 30, 2020 3:16:49 PM

As post-COVID recovery efforts gain momentum, many businesses are taking a fresh look at some federal stimulus and tax relief programs they had not previously considered. One such program, the employee retention credit contained in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, could be especially useful in helping companies bring back furloughed or laid-off employees.

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Topics: Tax, News, COVID-19

Interview: LifeWire's Mission to Put a Stop to Domestic Violence

Posted by Sweeney Conrad, PS on Jul 23, 2020 6:12:26 PM

Domestic violence is often a silent issue. With the rise of COVID-19, survivors are struggling at an even greater rate. This week we caught up with Kelly Becker, Development Director of LifeWire, to learn more about their mission to end domestic violence, how COVID-19 has affected their efforts, and how the community can help.

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Topics: Nonprofit Organizations & Private Foundations, Sweeney Conrad Passion, COVID-19

Corporate Mergers and Spinoffs: How Your Retirement May Be Affected

Posted by Wende Wadsworth, CPA on Jul 14, 2020 2:11:53 PM
If your company is involved in a merger or spinoff, you’ll need to plan carefully for how your qualified retirement plan will be affected. Failure to plan ahead for the impact of a merger or spinoff on your plan could lead to unintended consequences.
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Topics: Audit & Assurance, Retirement Reporter, Employee Benefit Plans

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