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Key Figures 2024 & 2025

Key Figures 2024 & 2025

November 21, 2024

Lisa Favor

As we approach the end of the year, we want to provide you with essential tax planning figures for 2024 and a preview for 2025. If you need any further assistance or clarification, please do not hesitate to contact us. We are always happy to help you with your tax needs. Download PDF: 2024 – 2025…

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Our Articles

401(k) plan audit

6 Reasons Why a 401(k) Plan Audit is Always Worthwhile

November 20, 2024

You might not have been due for a Department of Labor 401(k) audit in 2024—or even next year—but conducting an annual 401(k) plan audit ensures your retirement plans are fully compliant with DOL regulations. Get six other compelling reasons why regular 401(k) audits make sense: 1) Ensuring compliance with DOL regulations, 2) Upholding Fiduciary Responsibility,…

Exciting New Rules for Retirement Savings Happening in 2025 – The Super Catch-Up Contribution

Exciting New Rules for Retirement Savings Happening in 2025 – The Super Catch-Up Contribution

November 19, 2024

The Secure 2.0 Act is raising the catch-up contribution limit for workers, with the goal to make retirement more attainable.  Beginning in 2025, participants in 401K or other employer-provided qualified retirement plans who are age 60, 61, 62, or 63 by 12/31/25 can take advantage of the Super Catch-Up Contribution, which is $11,250 instead of…

Current Expected Credit Loss (CECL) Model

Understanding the Current Expected Credit Loss (CECL) Model: Key Changes and Impact

October 17, 2024

The Current Expected Credit Loss (CECL) model marks a significant change in how organizations account for receivables, loans, and other financial assets. Originally implemented for financial institutions, CECL now extends its impact across various industries that hold assets subject to credit risk. This proactive model emphasizes forward-looking estimates of potential credit losses, transforming how businesses…

Streamline Financial Reporting

Streamline Financial Reporting in Your Business with Workiva

October 10, 2024

Businesses must commit to strategic decision-making to survive today’s fast-paced business environment. The financial reporting feeding into those decisions demands timeliness and requires absolute accuracy. At the same time, companies need to ensure that their financial statements meet all regulatory requirements.  Automation with software like Workiva allows companies to use dependable internal financial reports while…

Independent Contractor Reporting Requirements

Did you know? California Independent Contractor Reporting Requirements Differ from the Federal Requirements!

September 25, 2024

The State of California has enhanced reporting requirements for independent contractor reporting as compared to the Federal requirements and many companies are not aware of this. The most significant differences are the reporting deadlines and the need to report based on contracts, not just actual payments made. This article summarizes the essential information you need…

The Complete SEFA Checklist for Grants from A-Z

The Complete SEFA Checklist for Grants from A-Z

September 24, 2024

LSL Webinar ‘Back to Basics | Grants from A-Z’ presented by LSL Senior Manager, Krystal Cabrera, CPA, and Supervisor, Keili Gonzalez outlined how local government finance departments can navigate the complexities of grant reporting from A-Z. In case you missed it – when it comes to preparing for year-end, local government finance departments must ensure…

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