Tag: #advisory

SECURE Act 2.0 – What Does These Mean for Small Businesses?

June 24, 2025

The SECURE Act 2.0 has several provisions that significantly impact small businesses, primarily focusing on making it easier and more affordable to offer retirement plans and encouraging employee participation. Key changes include increased tax credits for starting a new retirement plan, automatic enrollment features, and expanded eligibility for part-time employees. Key Changes and Impacts: Increased Tax Credits:Read more…


SECURE 2.0 ACT – Changes for 2025

Under SECURE 2.0, beginning this year, 2025, individuals ages 60 to 63 are eligible for increased catch-up contributions in their retirement plans. This applies to 401(k), 403(b), and governmental 457(b) plans that currently offer catch-up contributions. It’s also important to note that this change is optional for employers. So, each plan sponsor will decide whetherRead more…


Updated or Corrected BOI Reports

October 29, 2024

  PPL CPA will not be responsible for advising you regarding the legal or regulatory aspects of your company’s compliance with the CTA, nor are we responsible for the preparation or submission of beneficial ownership information reports to FinCEN. Like initial BOI reports, updated or corrected BOI reports should be filed electronically through the secureRead more…


BOI Deadlines Are Approaching

August 28, 2024

Is Your Company Ready? Effective January 1, 2024, many companies in the United States must report information about their beneficial owners—the individuals who ultimately own or control the company—to the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury.   Who Has To Report? A corporation, a limited liability companyRead more…


Benefits of a Business Credit Card

August 6, 2024

Who Should Get One? Small businesses can benefit from a business credit card to pay for products, services and to separate business expenses from personal expenses. Review the benefits below to see how this can have a positive impact on your small business. Business specific rewards and incentives Cash back, points, travel miles, office suppliesRead more…


What Start’s on Social Media Should Stay on Social Media

July 16, 2024

Tax Credit Schemes To Be Aware Of The current social media buzz on tax credits is for the “Self Employment Tax Credit.”  Not that you or anyone else can actually take advantage of this because…..it does not exist. When researching for this article I did a google search, Self Employment Tax Credit and boy-oh-boy theyRead more…


Beneficial Ownership Information Reporting

June 4, 2024

Below is a list of required information for BOI filing. Reporting Company: Company’s legal name along with any trade names, “doing business as” (d/b/a), or “trading as” (t/a) names The current street address of its principal place of business if that address is in the United States. You CANNOT use a P.O. Box as aRead more…


DOL Fair Labor Standards Act

  Final Rule Issued Effective July 1, 2024 What does this mean? The Fair Labor Standards Act final rule will take effect on July 1, 2024. Revisions include increases to the standard salary level and the highly compensated employee total annual compensation threshold and the timely updating of these earnings.   Salary thresholds will increaseRead more…


Inherited an IRA? Four Things Every Beneficiary Should Know

May 29, 2024

Inherited IRA distribution rules have changed in ways that can significantly impact your taxes and tax strategy. Inherited IRA beneficiaries should be aware of several important tax considerations — especially considering recent rule changes and delays involving required minimum distributions (RMDs). Here are a few tax things every IRA beneficiary should know. Inherited IRA taxRead more…


2024 TAX LAW CHANGES: BLOG SERIES 5

February 28, 2024

  The 5th and final series in our blog post will cover parking & transportation benefits, AMT (alternative minimum tax), Americans working abroad, self-employed people, payroll taxes and estate & gift taxes. Parking & transportation benefits: The 2023 cap on employer-provided tax-free parking goes up from $280 to $300 per month. The 2023 exclusion forRead more…