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How 401(k) Plan Sponsors Should Prepare for SECURE Act 2.0 Catch-Up Contribution Changes

Anders CPA

For more information about this legislation, please refer to our previous coverage of how 401(k) plan audits will be impacted by SECURE Act 2.0 Additional Changes to Catch Up Contribution Limits in 2025 Note that starting January 1, 2025, an additional change will be implemented. moving forward.

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Employers to Target Healthcare and Mental Health Costs in 2024

CPA Practice

While just 16% of employers require employees to switch to biosimilars when available by 2025, 27% are planning or considering doing this in the next two years. Regarding anti-obesity medications, 38% of employers cover them today, while 6% plan to cover them in 2024 and more than double that (16%) are considering doing so in 2025.

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AICPA News – Oct. 2023

CPA Practice

AICPA Releases Statement on IRS Announcement Concerning ERC Mills The American Institute of CPAs (AICPA) released a statement following an announcement by the Internal Revenue Service (IRS) detailing additional steps being taken to address aggressive and unscrupulous Employee Retention Credit (ERC) mills.

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AICPA News – Oct. 2023

CPA Practice

AICPA Releases Statement on IRS Announcement Concerning ERC Mills The American Institute of CPAs (AICPA) released a statement following an announcement by the Internal Revenue Service (IRS) detailing additional steps being taken to address aggressive and unscrupulous Employee Retention Credit (ERC) mills.

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Can Skagit County Businesses Still Get the Employee Retention Credit?

SkagitCountyTaxServices

The ERC was designed to help Skagit County employers like you keep employees on the payroll during the tough times of the pandemic. You calculate the amount of ERC using the payroll for full-time employees (and, with some additional math, part-timers, too). appeared first on Padgett & Padgett, PLLC CPA's.

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SECURE Act 2.0 Provisions Coming in 2024 and Beyond – What Plan Sponsors Can Do Now

Anders CPA

Provisions Effective January 1, 2025 Increase in Annual Catch-Up Contribution Limit The annual participant catch-up contribution limit will be increased, effective January 1, 2025, to $10,000 or 50% more than the regular catch-up limit for individuals aged 60 to 63, whichever option is greater. SECURE Act 2.0

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Can Skagit County Businesses Still Get the Employee Retention Credit?

SkagitCountyTaxServices

The ERC was designed to help Skagit County employers like you keep employees on the payroll during the tough times of the pandemic. You calculate the amount of ERC using the payroll for full-time employees (and, with some additional math, part-timers, too). first appeared on Padgett & Padgett, PLLC CPA. Running the numbers.

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