Chris Bozarth is a partner at Weiss & Company LLP who oversees the firm’s Accounting & Advisory Services Department. He has more than 20 years of accounting, auditing and consulting experience and oversees the employee benefit plan audit practice of the firm. Chris sat down recently to discuss employee benefit plan audits, benefit plan audit…
“Why should I use a CPA firm for my taxes?” We hear that question a lot this time of year, especially this year, in the wake of all the changes triggered by the Tax Cuts and Jobs Act. We hear it from taxpayers of all ages, at every income level. But the truth is, there’s…
Summary Congress enacted changes to qualified improvement property (QIP) and bonus depreciation in the 2017 tax reform, also known as the Tax Cuts and Jobs Act (P.L. 115-97). Due to a drafting error, QIP was not included in the list of property with a 15-year life. As such, despite the legislative intent, QIP has a…
More than a year after sweeping federal and state tax reform were enacted, businesses of all sizes are still working to understand the changes. Though additional guidance and regulations have been issued nearly every month, it seems change is the new normal. Strategic tax planning now is key to lowering businesses’ total tax liability. At…
It’s important for businesses to be familiar with the 401(k) audit compliance rules before it’s time to file. Understanding the guidelines will prevent a situation in which a business only realizes a 401(k) audit is needed after its Form 5500 (annual report of employee benefit plan) is rejected. Check the number of eligible employees The…
