The premium tax credit (PTC) is a refundable credit that helps individuals and families pay for insurance obtained from a Health Insurance Marketplace (commonly known as an ‘Exchange’). A provision of the Affordable Care Act (ACA) created the credit. The American Rescue Plan Act (ARPA), signed...
If you were to ask your information technology (IT) staff about how tech support for remote employees is going, they might say something along the lines of, “Fantastic! Never better!” However, if you asked remote workers the same question, their response could be far less...
The American Rescue Plan Act (ARPA), signed into law in early March, aims at offering widespread financial relief to individuals and employers adversely affected by the COVID-19 pandemic. The law specifically targets small businesses in many of its provisions. If you own a small company, you...
During the COVID-19 pandemic, many employees and their families have lost group health plan coverage because of layoffs or reduced hours. If your business has had to take such steps, and it is required to offer continuing health care coverage under the Consolidated Omnibus Budget...
Many businesses have retained employees during the COVID-19 pandemic and enjoyed tax relief with the help of the employee retention credit (ERC). The recent signing of the American Rescue Plan Act (ARPA) brings good news: the ERC has been extended yet again. The Original Credit As originally...
The U.S. economy is still not where it was before the COVID-19 pandemic hit about a year ago. Nonetheless, as vaccination efforts continue to increase, many experts expect stronger jobs growth and more robust economic activity in the months ahead. No matter what your business does,...
When the Small Business Administration (SBA) launched the Paycheck Protection Program (PPP) last year, the program’s stated objective was “to provide a direct incentive for small businesses to keep their workers on the payroll.” However, according to federal officials, the recently issued second round of...
If your business sponsors a 401(k) plan, you might someday consider adding designated Roth contributions. Here are some factors to explore when deciding whether such a feature would make sense for your company and its employees. Key Differences Roth contributions differ from other elective deferrals in two...
The events of the past year have taught business owners many important lessons. One of them is that, when a crisis hits, customers turn on their computers and look to their phones. According to one analysis of U.S. Department of Commerce data, consumers spent $347.26...
Using a strengths, weaknesses, opportunities, and threats (SWOT) analysis to frame an important business decision is a long-standing recommended practice. However, do not overlook other, broader uses that could serve your company well. Performance Factors A SWOT analysis starts by spotlighting internal strengths and weaknesses that affect...