The novel coronavirus (COVID-19) has disrupted business continuity across all industries, and retail is already feeling the impact. While retailers’ primary concern is the safety and wellbeing of their professionals and customers, this crisis requires specialized urgency and sensitivity given the widespread impact and uncertainty of the pandemic’s duration.

Unlike other industries, retail is an anomaly in that there is a stark difference between how companies in different sectors are absorbing the COVID-19 shock. For grocers and general merchandisers, supply and demand curves have skewed way off the charts and retailers are struggling to keep up with historic demands for soap, disinfectants, paper towels and shelf-stable food. For example, during the week of February 23-29, hand sanitizer revenue sales increased 420% and both Clorox/Lysol wipes and canned food revenue sales experienced a 183% increase from the week prior, according to Bloomreach.

On the contrary, specialty and luxury retailers are experiencing a dip in demand due the fact that their goods are considered “non-essential”. As a result of social distancing mandates and shifting consumer priorities, COVID-19 is brick-and-mortars’ latest impediment, validated by a recent GlobalData study which states that 12.1% of people admitted to visiting malls less in response to the outbreak. In addition, some retailers including Macy’s, Nordstrom, H&M and Ikea have shut their doors across the U.S. until further notice in an attempt to help contain the outbreak. These developments only compound the trend of declining foot traffic due to e-commerce growth that retailers have been grappling with in recent years.

While it may seem natural for transactions to be diverted to online, e-tailers are not necessarily experiencing smooth sailing either. For example, Amazon is seeing huge surges in demand, and yet, the same GlobalData study shows that Amazon is the least cited destination for stocking up (6.0%) compared with Walmart (21.9%), Costco (8.5%) and pharmaceutical convenience stores such as CVS (7.1%). This could perhaps be explained by e-commerce price gouging, and sheds light on the fact that even during dire circumstances, consumers will still look for that perfect balance between high convenience and low cost. In fact, just over one-third (34%) of consumers list price as their top priority for essential retail purchases today, compared with 20% who rate convenience first, according to a recent BDO survey conducted online by The Harris Poll among over 1,000 U.S. adults ages 18+.

Pre-COVID-19, almost three-quarters (73%) of retail CFOs said their business was thriving and just 22% said a potential economic downturn was their business’s greatest threat, according to BDO’s 2020 Retail Rationalized Survey. Now with the reality of COVID-19 and subsequent stock market decline, continued momentum is threatened, and retailers should prepare to pivot under new constraints. With a market that recently entered into bear territory and the economy’s cyclical nature, the looming recession could be upon us sooner than once anticipated.

Here’s what retailers can do in the interim:

• Reassure and support employees: Retail is one of the most difficult industries to implement remote work policies as so much of its success is reliant on in-person interactions. It’s important to remain empathetic towards your employees, including instilling flexibility when it comes to sick leave requests and payment policies in case of a furloughed status. Many stores initially said they were providing two weeks of additional paid leave for their staff, but longer-term policies remain uncertain.
• Inform consumer base: Timely communication acknowledging the current environment may help ease consumer confidence in their purchase decisions and confirm that purchases are being handled with care. This may also help to set realistic expectations in terms of consumer access to goods or services, and the welcomed transparency can help to prevent any further reputational harm as a result of the outbreak.
• Prepare for the short-term and long-term: As the novel coronavirus impacts on global supply chains continue to play out, retailers will likely need to reevaluate their supply chain strategy for Q2 and Q3. From a shopping perspective, the recent economic dip is already impacting Q1 numbers. However, in the immediate future, many retailers have expressed concerns about meeting monthly payments, including rent. They should seek to negotiate with landlords—as well as any vendors—to manage cash flow challenges. When formulating long-term plans, it’s important for retailers to understand whether they can capture lost revenue and income on the back of the unpredictable COVID-19, which is critical to minimizing financial implications. In addition, retailers should review the U.S. stimulus package and assess how they can take advantage of the relief being offered by the federal and state governments.
• Be cognizant of industry impacts: The effects of the novel coronavirus and a likely recession in 2020 will only make the disparity between strong and weak retailers more pronounced. 2019 marked numerous bankruptcies and store closings and the impact of COVID-19 could push some retailers to the point of no return. Retailers seeking to outlast this period of market volatility will need to practice extreme financial discipline when it comes to both hedging against recession threats and investing in technology and infrastructure to preserve relevance.
• Evaluate crisis protocols and risk profile: Businesses should scenario plan for future disruptions and shortages. Whether that means dedicating a specific team to crisis management or conducting a business continuity assessment, take proactive approaches to help mitigate future trauma.

Looking ahead, monitoring announcements from the CDC and WHO can help guide the trajectory in which remedial steps should be taken. The retail industry has time and again experienced hardship and proved its resilience above the turbulence.

To learn more about how your organization can navigate immediate disruptions due to the novel coronavirus and prepare for the future, don’t hesitate to reach out.

Survey Methodology for the Harris Poll: This survey was conducted online within the United States by The Harris Poll on behalf of BDO USA from March 25-26, 2020 among 1,045 U.S. adults ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact your trusted advisor.

UPDATED 3/19/20, 10:30 a.m. IRS Updates on Tax Payments **Please note: we are planning a client webinar for early next week to explain how the tax deferrals will work. Event details will be posted on our website.** The U.S. Treasury Department and Internal Revenue Service (IRS) issued guidance allowing all individual and other non-corporate tax filers to defer up to $1 million of federal income tax (including self-employment tax) payments due on April 15, 2020, until July 15, 2020, without penalties or interest.  To clarify, the federal tax payment deferrals include 2019 tax payments as well as 2020 first quarter estimated federal tax payments. This applies to federal taxes, states taxes vary. Colorado officials said they would mirror IRS guidance as it is updated amid the pandemic. See the American Institute of CPAs (AICPA)’s state-by-state guide for more information. The guidance also allows corporate taxpayers a similar deferment of up to $10 million of federal income tax payments that would be due on April 15, 2020, until July 15, 2020, without penalties or interest.  The current guidance does not change the April 15 filing deadline, or the requirement to file for an extension if you do not file by April 15. We anticipate this also may change; however, we are working diligently toward these deadlines. Read the full IRS guidance here. We are monitoring the Treasury Website and the IRS Website for updates and will continue to post the latest information to our Coronavirus Updates page. SKR+CO Document Exchange – New Secure In Person Dropbox: SKR+CO installed a secure dropbox on the 3rd floor of our building. Clients may drop documents off securely, should you prefer to do so in person. Please use an envelope, clips or rubber bands to keep your documents organized. Access to the 4th floor will only be available to SKR+CO essential personnel, effective immediately. USPS mail services, secure email and the client portal are also available to exchange and securely share documents with your CPA. As always, please call your CPA with questions — our receptionist is happy to connect you as we work remotely.

SKR+CO Client Information:

• Visitors, friends of the firm and family members of employees are asked to communicate electronically via email, phone or video conference.

• If you must hand deliver documents, a secure drop box is available on the 3rd floor of our office building, immediately in front of our elevators. This is available and monitored M-F, 8 to 5 p.m.

In an abundance of caution, please avoid unnecessary trips to the SKR+CO office. Instead, we highly encourage:

Sharing documents digitally via the SKR+CO client portal and/or secure email, both located on our client center page.

If possible, please share and/or sign documents electronically via our portal or secure email.

SKR+CO Operations:

• We are working remotely and available via electronic means. Please call us with questions, our receptionist can connect you the cell phone of your CPA.

• While a majority of our employees are working remotely, a limited number of essential employees are at the office to process documents and mail.

• In-person meetings scheduled at SKR+CO will be canceled for the next fifteen days, effective immediately.

• Documents will be distributed electronically whenever possible.

Business Recovery Information:

Webinar: We are preparing a webinar for clients regarding business recovery.

Social Media: We will share information placed on our update page through our social media platforms, should you prefer accessing information via those channels.

Business Recovery: Please review the Business Recovery Guide

Additional information from the IRS regarding coronavirus can be found here: https://www.irs.gov/coronavirus

We will list closure status or other updates on our website and our social media channels.

“After the natural disasters in the fall of 2013, the Colorado SBDC disaster relief team worked with federal, state and local resources to produce a comprehensive guide to assist Colorado businesses in preparing for, responding to, and recovering from natural disasters and emergencies.” Click here for the guide . More information can be found on the SBDC Website

Stay up to date with the latest SKR+CO information. Sign up for our newsletter where we will update you with new information as it becomes available to us. You can join our newsletter by signing up at the bottom of our Client Center page.

Do you drive a heavy vehicle for work? It could lighten your tax load. If you’re a business owner, your SUV, pickup truck or van may be eligible for 100% first-year bonus depreciation. But it must:

• Be placed in service between September 8, 2017 and December 31, 2022
• Be new to you and your business – although pre-owned vehicles are eligible
• Be used over 50% for business purposes
• Have a manufacturer’s gross vehicle weight rating higher than 6,000 pounds

What does 6,000 pounds look like?

See below for some business vehicles that can do the heavy lifting.

• Chevy Tahoe
• Cadillac Escalade
• Chevy Suburban
• Ford Expedition
• GMC Yukon
• Toyota Land Cruiser
• Chevy Silverado
• Mercedes-Benz GL-Class SUV
• Ford F-series Super Duty
• Hummer H2

Other rules apply. Contact your trusted advisor for details.

The U.S. Department of Labor (DOL) has released the finalized rule on overtime exemptions for white-collar workers under the Fair Labor Standards Act.  It is expected to expand the pool of nonexempt workers by more than 1 million.

The new rule is scheduled to take effect on January 1, 2020. Affected employers should consider prompt action to reduce the impact to their bottom lines

The new rule

Under the finalized overtime exemptions regulations, an employer generally cannot classify an employee as exempt from overtime obligations unless the employee satisfies three tests:

1. Salary basis test. The employee is paid a predetermined and fixed salary that is not subject to reduction because of variations in the quality or quantity of the work performed.
2. Salary level test. The employee is paid at least $684 per week or $35,568 annually.
3. Duties test. The employee primarily performs executive, administrative or professional duties.

The DOL’s final rule specifically increased the salary level test (previously $455 per week or $23,00 annually). Therefore, if an employee’s salary exceeds the new level, the employee will be ineligible for overtime if he or she primarily performs executive, administrative or professional duties. If their salary falls below it, the employee is nonexempt, regardless of duties.

Employers can use nondiscretionary bonuses and incentive payments (including commissions) that are paid annually or more frequently to satisfy up to 10% of the standard salary level test. If an employee does not earn enough in such bonuses or payments in a given year to remain exempt, the employer can also make a catch-up payment within one pay period of the end of the year. However, the payment will count only toward the prior year’s salary amount.

Highly compensated employees

Neither the salary basis nor the salary level test applies to certain employees (for example, doctors, teachers and lawyers). The new rule provides a more relaxed duties test for certain highly compensated employees (HCEs) who are paid total annual compensation of at least $107,432 (including commissions, nondiscretionary bonuses and other nondiscretionary compensation) and at least $684 salary per week.

The final rule sets the total annual compensation threshold at the 80th percentile of weekly earnings of full-time salaried employees nationally.

The DOL opted against automatic adjustments to salary thresholds every three or four years. Instead, the final rule simply indicates the department’s intent to update the earnings thresholds “more regularly in the future,” following the notice-and-comment rulemaking process.

Preparation tips

Employers should begin taking measures to achieve compliance — and minimize the hit to their finances — when the final rule takes effect. Your business may already be well-prepared if you have previously gone through this process. Take care, though, to not rely on past findings as circumstances may have shifted.

A good first step is to check employees’ salary levels against the new thresholds. It may be advisable to give raises to employees who fall just under a threshold and routinely work more than 40 hours per week. Or consider redistributing workloads or scheduled hours to prevent newly nonexempt employees from working overtime.

This also is a good time to review employees’ job duties against the tests for the various exemptions. Check duties on a regular basis, as this is a ripe area of litigation for employees who contend that they deserve overtime despite their job titles. Courts and the DOL agree that actual duties, not job title or even job description, are what matters.

If, according to the final rule, you reclassify currently exempt workers as nonexempt, you must establish procedures for accurately tracking their time to ensure proper overtime compensation. Reclassified employees may require some training on timekeeping procedures.

Plan accordingly

Some employers may find that the new overtime rule substantially increases their compensation costs, including their payroll tax liability.

Contact your trusted advisor to ensure your company is in compliance with the new rule, as well as all payroll tax obligations.

Year-end tax planning will be just as complicated as it was last year due to the complexity of new tax regulations for businesses and individuals. This is of the essence as tax planning strategies to reduce your 2019 tax bill must be taken before year end.

Take advantage of planning strategies for individuals

Individuals often can reduce their tax bills by deferring income to the next year and accelerating deductible expenses into the current year. To defer income, for example, you might ask your employer to pay your year-end bonus in early 2020 rather than in 2019.

To accelerate deductions, consider increasing your IRA or qualified retirement plan contributions to the extent that they’ll be deductible. Such contributions also provide some planning flexibility because you can make 2019 contributions to IRAs, and certain other retirement plans, after the end of the year.

Other year-end tax planning strategies to consider include:

Offsetting capital gains. If you sold stocks or other investments at a gain this year — or plan to do so — consider offsetting those gains by selling some poorly performing investments at a loss.

Reducing capital gains is particularly important if you are subject to the net investment income tax (NIIT), which applies to taxpayers with modified adjusted gross income (MAGI) over $200,000 ($250,000 for married couples filing jointly). The NIIT is an additional 3.8% tax on the lesser of 1) your net income from capital gains, dividends, taxable interest and certain other sources, or 2) the amount by which your MAGI exceeds the threshold.

In addition to reducing your net investment income by generating capital losses, you may have opportunities to bring your MAGI below the applicable NIIT threshold by deferring income or accelerating certain deductions.

Charitable giving. If you plan to make charitable donations, consider donating highly appreciated stock or other assets rather than cash. This strategy is particularly effective if you own appreciated stock you would like to sell but you don’t have any losses to offset the gains.

Donating stock to charity allows you to dispose of the stock without triggering capital gains taxes, while still claiming a charitable deduction. Then you can take the cash you’d planned to donate and reinvest it in other securities.

Contact your trusted advisor to discuss end of year planning for you and your business.

With the holiday season right around the corner, it is a good time for business owners to focus on strategic planning for next year. Here are some ways to get started.

Begin with your financials

A good place to find inspiration for strategic objectives is your financial statements. They will tell you whether you are excelling or struggling so you may decide how strategically ambitious or cautious to be in the coming year.

Use the numbers to look at key performance indicators such as gross profit, which tells you how much money you made after your production and selling costs were paid. It’s calculated by subtracting the cost of goods sold from your total revenue. Also calculate current ratio, which is calculated by dividing current assets by current liabilities. It helps you gauge the strength of your cash flow.

A CFO or CPA-prepared budget can serve as more than just a management tool – it also can be presented to lenders and investors who want to know more about your start-up’s operations and its expected financial results. Review your findings with your CPA or a CFO consultant if you do not already have a CFO on staff.

Examine other areas

Human resources is another critical area of strategic planning. Consider last year’s employee turnover rate. High turnover could be a sign of poor training, substandard management or low morale. Any of these problems could undercut the strategic objectives you set.

Examine sales and marketing. Did you meet your goals for new sales last year, as measured in both sales volume and number of new customers? Did you generate an adequate return on investment for your marketing dollars?

Finally, take a close look at your production and operations. Many companies track a metric called customer reject rate that measures the number of complete units rejected or returned by external customers. Sometimes a business must improve this rate before it moves forward with growth objectives. If yours is a service business, you should similarly track and assess customer satisfaction.

Set new objectives

With a review of your financials and key business areas complete, you can more reasonably set goals for next year under the banner of your strategic plan. On the financial side, for instance, your objective might be to boost gross profit from 20% to 30%. But how will you lower your costs or increase efficiency to make this goal a reality?

Or maybe you want to lower your employee turnover rate from 20% to 10%. Strategize what will you do differently from a training and management standpoint to keep your employees from jumping ship this year.

Act now

Don’t let year end creep any closer without reviewing your business’s recent performance. Then, use this data to set realistic goals for the coming year.

Contact your trusted advisor to choose the best metrics numbers and put together a solid strategic plan.

Owners of certain rental real estate interests have final guidance on what qualifies for the qualified business income (QBI) deduction.

QBI in a nutshell

QBI equals the net amount of income, gains, deductions and losses — excluding reasonable compensation, certain investment items and payments to partners for services rendered. The deduction is subject to several significant limitations; however, QBI generally allows partnerships, limited liability companies (LLCs), S corporations and sole proprietorships to deduct as much as 20% of QBI received.

Many taxpayers involved in rental real estate activities were uncertain whether they would qualify for the deduction. The final guidance leaves no doubt that individuals and entities that own rental real estate directly or through disregarded entities (entities that are not considered separate from their owners for income tax purposes, such as single-member LLCs) may be eligible.

Covered interests

The safe harbor applies to qualified “rental real estate enterprises.” For purposes of the safe harbor only, the term refers to a directly held interest in real property held to produce rents. It may consist of an interest in a single property or multiple properties.

You can treat each interest in a similar property type as a separate rental real estate enterprise or treat interests in all similar properties as a single enterprise. Properties are “similar” if they are part of the same rental real estate category (that is, residential or commercial). In other words, you can only hold commercial real estate in the same enterprise with other commercial real estate. The same applies for residential properties.

Bear in mind, if you opt to treat interests in similar properties as a single enterprise, you must continue to treat interests in all properties of that category — including newly acquired properties — as a single enterprise. If, however, you choose to treat your interests in each property as a separate enterprise, you can later decide to treat your interests in all similar commercial or all similar residential properties as a single enterprise.

Notably, the guidance provides that an interest in mixed-use property may be treated as a single rental real estate enterprise or bifurcated into separate residential and commercial interests.

Safe harbor requirements

The final guidance clarifies the requirements you must fulfill during the tax year in which you wish to claim the safe harbor. Requirements include:

Keeping separate books and records. You must maintain separate books and records reflecting income and expenses for each rental real estate enterprise. If the enterprise includes multiple properties, you can meet this requirement by keeping separate income and expense information statements for each property and consolidating them.

Performing rental services. For enterprises in existence less than four years, at least 250 hours of rental services must be performed each year. For those in existence at least four years, the safe harbor requires at least 250 hours of rental services per year in any three of the five consecutive tax years that end with the tax year of the safe harbor.

The rental services may be performed by owners or by employees, agents or contractors of the owners. Rental services include:

• Advertising to rent or lease the property
• Negotiating and executing leases
• Verifying tenant application information
• Collecting rent
• Performing daily operation, maintenance and repair of the property, including the purchase of materials and supplies
• Managing the property
• Supervising employees and independent contractors.

Financial or investment management activities, studying or reviewing financial statements or reports, improving property, and traveling to and from the property do not qualify as rental services.

Maintaining contemporaneous records. For all rental services performed, you must keep contemporaneous records that describe the service, associated hours, dates and the individuals who performed the service. If services are performed by employees or contractors, you can provide a description of them, the amount of time employees or contractors generally spent performing those services, and time, wage or payment records for the individuals.

This requirement does not apply to tax years beginning before January 1, 2020. The IRS cautions, though, that taxpayers still must establish their right to any claimed deductions in all tax years, so be prepared to document your QBI deduction.

Providing a tax return statement. You must attach a statement to your original tax return (or, for the 2018 tax year only, on an amended return) for each year you rely on the safe harbor. If you have multiple rental real estate enterprises, you can submit a single statement listing the requisite information separately for each.

Excluded real estate arrangements

The safe harbor is not available for all rental real estate arrangements. The guidance excludes:

• Real estate used as a residence by the taxpayer (including an owner or beneficiary of a pass-through entity),
• Real estate rented or leased under a triple net lease that requires the tenant or lessee to pay taxes, fees, insurance and maintenance expenses, in addition to rent and utilities,
• Real estate rented to a commonly controlled business, or
• The entire rental real estate interest if any part of it is treated as a specified service trade or business (SSTB) for purposes of the QBI deduction. (SSTBs with taxable income above a threshold amount do not qualify for the deduction.)

The guidance states that taxpayers that do not qualify for the safe harbor may still be able to establish that an interest in rental real estate is a business for purposes of the deduction.

Next steps

The final safe harbor rules apply to tax years ending after December 31, 2017, and you have the option of instead relying on the earlier proposed safe harbor for the 2018 tax year. Plus, you must determine annually whether to use the safe harbor.

Contact your trusted advisor to determine whether you are eligible for this and other valuable tax breaks.

Bitcoin and other forms of virtual currency are gaining popularity worldwide. Yet many businesses, consumers, employees and investors are still confused about how they work and how to report transactions on their federal tax returns. The IRS recently announced that it is reaching out to taxpayers who potentially failed to report income and pay tax on virtual currency transactions or did not report them properly.

The nuts and bolts

Unlike cash or credit cards, small businesses generally don’t accept bitcoin payments for routine transactions. However, a growing number of larger retailers and online businesses now accept payments. Businesses can also pay employees or independent contractors with virtual currency. The trend is expected to continue, so more small businesses may soon get on board.

Virtual currency has an equivalent value in real currency and can be digitally traded between users. It can also be purchased and exchanged with real currencies (such as U.S. dollars). The most common ways to obtain virtual currency like bitcoin are through virtual currency ATMs or online exchanges, which typically charge nominal transaction fees.

Tax reporting

Virtual currency has triggered many tax-related questions. The IRS has issued limited guidance to address them. In 2014, the IRS established that virtual currency should be treated as property, not currency, for federal tax purposes.

As a result, businesses that accept bitcoin payments for goods and services must report gross income based on the fair market value of the virtual currency when it was received. This is measured in equivalent U.S. dollars.

From the buyer’s perspective, purchases made using bitcoin result in a taxable gain if the fair market value of the property received exceeds the buyer’s adjusted basis in the currency exchanged. Conversely, a tax loss is incurred if the fair market value of the property received is less than its adjusted tax basis.

Wages paid using virtual currency are taxable to employees and must be reported by employers on W-2 forms. They are subject to federal income tax withholding and payroll taxes, based on the fair market value of the virtual currency on the date of receipt.

Virtual currency payments made to independent contractors and other service providers are also taxable. In general, the rules for self-employment tax apply and payers must issue 1099-MISC forms.

IRS campaign

The IRS announced it is sending letters to taxpayers who potentially failed to report income and pay tax on virtual currency transactions or did nott report them properly. The letters urge taxpayers to review their tax filings and, if appropriate, amend past returns to pay back taxes, interest and penalties.

By the end of August, more than 10,000 taxpayers will receive these letters. The names of the taxpayers were obtained through compliance efforts undertaken by the IRS. The IRS Commissioner warned, “The IRS is expanding our efforts involving virtual currency, including increased use of data analytics.”

Last year, the tax agency also began an audit initiative to address virtual currency noncompliance and has stated that it is an ongoing focus area for criminal cases.

Implications of going virtual

Contact your trusted advisor if you have questions about the tax considerations of accepting virtual currency or using it to make payments for your business. If you receive a letter from the IRS about possible noncompliance, consult with your trusted business advisor before responding.

If your small business doesn’t offer its employees a retirement plan, you may want to consider a SIMPLE IRA. Offering a retirement plan can provide your business with valuable tax deductions and help attract and retain employees. For a variety of reasons, a SIMPLE IRA can be a particularly appealing option for small businesses. The deadline for setting one up for this year is October 1, 2019.

The basics

Unlike cash or credit cards, small businesses generally don’t accept bitcoin payments for routine transactions. However, a growing number of larger retailers and online businesses now accept payments. Businesses can also pay employees or independent contractors with virtual currency. The trend is expected to continue, so more small businesses may soon get on board.

As the employer, you can choose from two contribution options:

1. Make a “nonelective” contribution equal to 2% of compensation for all eligible employees. You must make the contribution regardless of whether the employee contributes. This applies to compensation up to the annual limit of $275,000 for 2018 (annually adjusted for inflation).

2. Match employee contributions up to 3% of compensation. Here, you contribute only if the employee contributes. This isn’t subject to the annual compensation limit.

Employees are immediately 100% vested in all SIMPLE IRA contributions. 

Employee contribution limits

Any employee who has compensation of at least $5,000 in any prior two years and is reasonably expected to earn $5,000 in the current year, can elect to have a percentage of compensation put into a SIMPLE IRA.  SIMPLE IRAs offer greater income deferral opportunities than ordinary IRAs, but lower limits than 401(k)s. An employee may contribute up to $12,500 to a SIMPLE IRA in 2018. Employees age 50 or older can also make a catch-up contribution of up to $3,000. This compares to $5,500 and $1,000, respectively, for ordinary IRAs, and to $18,500 and $6,000 for 401(k)s.

A SIMPLE IRA might be a good choice for your small business, but it isn’t the only option. Contact your trusted advisor to learn more about a SIMPLE IRA or to hear about other retirement plan alternatives for your business.

Contact your trusted advisor with any questions.

Stay on top of filing and reporting deadlines with our tax calendar! Our tax calendar includes dates categorized by employers, individuals, partnerships, corporations and more to keep you on track.