On November 18, 2021, Governor Cooper signed NC Senate Bill 105, which includes a provision allowing passthrough entities to elect to pay North Carolina state income tax at the corporate level rather than passing the tax liability on to the shareholders. This...
Proper placement of offerings on a restaurant menu is imperative as this placement plays a critical role in how customers order. Therefore, when designing a menu, it’s imperative that restauranters invest the requisite time and effort into selecting an appropriate...
No matter if it’s raw materials, work-in-process, or finished goods, how your organization manages inventory can play a critical role in the profitability and success of your business. The pandemic has created unprecedented challenges for many industries and their...
The ongoing COVID-19 pandemic has exposed discrepancies and disruptions in global manufacturing and supply chains which have been complex and costly. The constraints on transportation and capacity, supply shortages, rising costs, and frustrated customers threaten to...
Companies that offer employee benefit plans like health insurance or retirement benefits are governed by the Employee Retirement Income Security Act of 1974 (ERISA). ERISA is a federal law that requires employee benefit plan administrators to follow certain...
As the plan administrator, you do your best to keep your employee benefit plan in compliance. However, once your plan has 100 or more participants, you will need to get an independent audit from an accounting firm. The auditing process can be overwhelming given the...
Under federal law, most organizations with an employee benefit plan (EBP) that has 100 or more participants are required to submit audited plan financial statements when they file their annual tax return or report. This audit is required to ensure that the...
Do you offer benefit plans to your employees like 401(k)? Then you may be required to have the plan audited by an independent public accountant under the Employee Retirement Income Security Act of 1974 (ERISA). ERISA requires that an annual report be filed with the...
Restaurants continue to face significant pandemic-related challenges. From supply chain disruptions to staffing shortages, companies are heading into a third calendar year of difficulties that continue to change, leaving restaurateurs scrambling for solutions. The...
One of the most common concerns that I hear when working with retailers is that “we need more sales!” Of course, but sales are just one component of determining overall profitability as “costs” can also dictate whether a retailer makes or loses money. Retailers are...