How effectively does your business manage risk?

November 5, 2020By Smeriglio Associates LLCNews

From natural disasters and government shutdowns to cyberattacks and fraud, risks abound in today’s volatile, uncertain marketplace. While some level of risk is inevitable when operating a business, proactive owners and executives apply an enterprise risk management (ERM) framework to manage it more effectively. Evolving framework The Committee of Sponsoring Organizations of the Treadway Commission … Read More

PBGC: 2021 Premium Rates

November 5, 2020By Smeriglio Associates LLCNews

The Pension Benefit Guaranty Corporation (PBGC) has released its 2021 premium rates. The PBGC is a government agency that collects insurance premiums from employers that sponsor defined benefit plans. The 2021 flat premium rate for PBGC’s single-employer plan termination insurance program will be $86 per participant, up from the 2020 premium rate of $83. The … Read More

Why your nonprofit must make time for accountability

November 3, 2020By Smeriglio Associates LLCNews

“Accountability” may seem like one of those popular management concepts you know would be nice to implement if your not-for-profit had the time and budget. But not only is accountability essential to your nonprofit’s health and efficacy — affecting everything from donations to grants, hiring to volunteering, board fiduciary duty to employee morale — it’s … Read More

2020 – 10/21 – IRS: Virtual Currency Tracking

November 3, 2020By Smeriglio Associates LLCNews

Identifying taxpayers with virtual currency transactions isn’t easy for the IRS, said a key report. A recent Treasury Inspector General for Tax Administration (TIGTA) report showed that this is a growing form of alternative payment in the U.S., yet only a small number of audits that focus on such transactions have been initiated. The primary … Read More

IRS: California Wildfire Victim Tax Relief

October 31, 2020By Smeriglio Associates LLCNews

The IRS is providing tax relief for the victims of California wildfires. Victims of the wildfires that began on Sept. 4 now have until Jan. 15, 2021, to file various individual and business tax returns and make tax payments. The relief is available to any area designated by the Federal Emergency Management Agency as qualifying … Read More

Now more than ever, carefully track payroll records

October 30, 2020By Smeriglio Associates LLCNews

The subject of payroll has been top-of-mind for business owners this year. The COVID-19 pandemic triggered economic changes that caused considerable fluctuations in the size of many companies’ workforces. Employees have been laid off, furloughed and, in some cases, rehired. There has also been crisis relief for eligible businesses in the form of the Paycheck … Read More