In the world of business, problems arise every day. A simple mistake in financial reporting can lead to consequences that set your business back. Keep your business moving forward with Darnall, Sikes & Frederick. We apply our technical expertise to a complete range of accounting and financial services in order to provide you with the security your business needs.
Can a safe harbor 401(k) plan become top-heavy?
Safe harbor 401(k) plans generally free employers from compliance with nondiscrimination testing. But you may wonder whether they’re subject to “top-heavy” requirements.
May 19, 21
Some employers are incentivizing employees to get COVID-19 vaccinations
As efforts continue to get most Americans vaccinated against COVID-19, employers are contemplating their roles. If your organization hasn’t decided yet whether you want to openly push employees to get inoculated, you may want to consider a well-communicated vaccine incentivization program. Such programs feature: 1) a one-time cash bonus or a widely used gift card for producing proof of vaccination, 2) a supplement to hourly wages of, say, two to four hours of paid time, or 3) paid time off to get vaccinated, as well as perhaps additional paid time off as a thank you. Our firm can help you evaluate the financial feasibility and other issues involved in these and other incentive options.
May 05, 21
Your kid need a summer job? Here's a few reasons it could be a good idea.
Is your kid looking for some weekend or summer income? Are you needing some help too? This might be a win-win. As a business owner, you could benefit from hiring your family. Instead of high taxed income, you could shift business earnings in to low-taxed or even tax free earnings to your kid. Of course there are a few rules, namely it has to be a liegitimate job with a reasonable salary. Check out this interesting information.
April 28, 21