Every organization has employees accustomed to traditional means of working who may find difficulty transitioning to a digital workplace. Guide these employees by clearly demonstrating how digital collaboration and efficiency products are a familiar but improved work experience. Below are some statements of what I often hear from these traditional workers and how these Microsoft…
Learn how Withum’s BSA (Bank Secrecy Act)/AML (Anti-Money Laundering) experts helped build a unique compliance program for an industrial technology company, allowing them to continue business operations while satisfying all AML requirements of their commercial bank, saving both time and money while addressing compliance needs for the company and their bank. Download a PDF of…
There are many questions that arise when running your business, especially around managing finances and accounting matters. Through our work with various types of companies across many industries, our team of experts put together these outsourced and business accounting frequently asked questions to help you find a solution. This FAQ page covers topics relating to…
Form 5500 is an annual report filed by employee benefit plans with the U.S. Department of Labor (DOL) and the Internal Revenue Service (IRS). The form is used to disclose financial and other information about the plan, including its operations and investments. The DOL, IRS, and PBGC recently released a notice announcing the final forms…
Before discussing some potential areas of disagreement, we need to address several foundational issues that permeate the basis for disputes. By recognizing these issues during the diligence and document review, the more likely a dispute can be averted or minimized. On the top of the list is measurement. Understanding, and by understanding, I mean documenting,…
Once upon a time in a land far, far away a buyer and seller came together, and quickly came to terms that everyone was happy with. Post-closing the business thrived, and the seller went on to an extraordinary retirement. They all lived happily ever after. Did I mention that what was sold was a certain…
The majority of corporate transactions typically reflect at least two separate elements. One is the business arrangement agreed to by the parties involved, and the other is the tax planning designed to minimize taxes while allowing the business arrangement to be fulfilled. In order to strike the appropriate balance, the potential impact of the “economic…
I’m starting to get this question more and more from do-it-yourself types hoping to save money. If computers can beat a world chess champion, they argue, why can’t they perform as good as or better than my local tax advisor? We’ll explore this issue in more detail below, but the short answer is no, artificial…
Over the past few days, the IRS has issued several updates regarding tax relief for victims of severe winter storms, flooding, landslides, and mudslides. The last updated news release on February 24, 2023, states that affected taxpayers now have until October 16, 2023 to file various individual and business tax returns and make tax payments….