An Employee Stock Ownership Plan (ESOP) is a company-funded retirement plan, very similar to a profit sharing plan that holds company stock in accounts for the participants. An ESOP is a defined contribution plan and contributions are at the discretion of the employer.
Month: July 2020
Donor Managed Charitable Giving
The IRS recently indicated that it would approve of charitable giving programs where the donor still manages the donated assets, subject to certain conditions and restrictions. As you have made charitable contributions in the past, you may wish to investigate using a donor-managed account as part of your charitable giving activities.
Captive Insurance Has Its Advantages and Disadvantages
A captive is an insurance company created and wholly owned by one or more non-insurance companies to ensure the risks of its owners. Captives are essentially a form of self-insurance whereby the insurer is owned wholly by the insured. They are typically established to meet the risk-management needs of the owners.
SBA Provides PPP Loan Forgiveness Application Clarifications
On Monday, June 22, 2020, the U.S. Small Business Administration (SBA) released Revisions to Loan Forgiveness Interim Final Rule and SBA Loan Review Procedures Interim Final Rule.
Communicate with Customers: QuickBooks and Microsoft Word
The pandemic has forced businesses to find new ways to connect with customers. QuickBooks has built-in tools that can help.
3 Ways to Receive Payments in QuickBooks Online
Recording customer payments is one of your more pleasant accounting tasks. Depending on the situation, you can choose from multiple ways to do this using QuickBooks Online.