Masters & Jorgensen, Inc.

New rules will soon require employers to annually disclose retirement income to employees

February 21, 2020

As you’ve probably heard, a new law was recently passed with a wide range of retirement plan changes for employers and individuals. One of the provisions of the SECURE Act involves a new requirement for employers that sponsor tax-favored defined contribution retirement plans that are subject to ERISA. Specifically, the law will require that the […]

New law helps businesses make their employees’ retirement secure

February 17, 2020

A significant law was recently passed that adds tax breaks and makes changes to employer-provided retirement plans. If your small business has a current plan for employees or if you’re thinking about adding one, you should familiarize yourself with the new rules. The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) was signed […]

New law provides a variety of tax breaks to businesses and employers

February 14, 2020

While you were celebrating the holidays, you may not have noticed that Congress passed a law with a grab bag of provisions that provide tax relief to businesses and employers. The “Further Consolidated Appropriations Act, 2020” was signed into law on December 20, 2019. It makes many changes to the tax code, including an extension […]

The SECURE Act changes the rules for employers on retirement plans

February 10, 2020

The Setting Every Community Up for Retirement Enhancement (SECURE) Act is the first significant retirement-related legislation in more than a dozen years. It brings many changes that affect employers of all sizes, including some that could be particularly beneficial for smaller employers that sponsor retirement plans. Some of the changes, however, may increase the burden […]

2020 tax calendar

February 7, 2020

To help you make sure you don’t miss any important 2020 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and let us know if you have any questions about the deadlines or would like assistance in meeting them. © 2020

Spending bill extends tax breaks, adds retirement account provisions

February 3, 2020

With its winter recess looming before it, Congress has engaged in a flurry of activity. Most notably, it reached agreement on a massive governmentwide spending package titled the Further Consolidated Appropriations Act, 2020. The legislation extends certain income tax provisions that had expired, as well as some that were due to expire at the end […]

2019 – 12/23 – Wayfair revisited — It’s time to review your sales tax obligations

January 17, 2020

Does your business make online, phone or mail-order sales in states where it lacks a physical presence? If so, it’s critical to find out if those states have economic nexus laws and determine whether your activities are enough to trigger them. http://bit.ly/2ZnOMcN

Wayfair revisited — It’s time to review your sales tax obligations

January 17, 2020

In its 2018 decision in South Dakota v. Wayfair, the U.S. Supreme Court upheld South Dakota’s “economic nexus” statute, expanding the power of states to collect sales tax from remote sellers. Today, nearly every state with a sales tax has enacted a similar law, so if your company does business across state lines, it’s a […]

Small Businesses: It may not be not too late to cut your 2019 taxes

January 15, 2020

Don’t let the holiday rush keep you from taking some important steps to reduce your 2019 tax liability. You still have time to execute a few strategies, including: 1. Buying assets.Thinking about purchasing new or used heavy vehicles, heavy equipment, machinery or office equipment in the new year? Buy it and place it in service […]