Labor Unions & Multi-Employer Benefit Plans
Our professionals have been providing audit and accounting services to Organized Labor Union and related Multi-employer benefit plans for more than 30 years. We understand the unique reporting requirements that they face.
As these reporting requirements become increasingly complex, our clients rely on us to provide accurate and timely financial information, enabling business managers to operate the union in an effective and efficient manner. We design our audits and financial statements to ensure that these organizations remain in compliance with all governing agencies including Internal Revenue Service, U.S. Department of Labor, ERISA as well as any internal Labor Union reporting.
Industry Insights
Shareholders Running Afoul of the IRS
Many small businesses are taxed as S corporations because of tax benefits, such as the ability to avoid corporate tax on certain business earnings. Unlike C corporations, S corporations generally do not pay federal income taxes at the corporate level. Alternatively,...
Navigating Income Distribution in Medical Practices
Medical practices often face complex decisions regarding income and expense distribution among physicians. These decisions not only impact financial sustainability but also influence workplace dynamics and overall morale. This article delves into the essential...
Tilton Market: Where Everybody Knows Your Name
It’s not in Boston nor a bar, but in Northfield, NJ, there is one establishment where many of its customers frequent it regularly and everybody who works there knows their names. It’s that super friendly atmosphere and its high-quality foods that have become the...
Mastering the Art of Working *On* Your Business, Not *In* It
Running a business requires a delicate balance between day-to-day operations and long-term growth planning. The difference between working *in* your business and *on* your business is crucial to understand for your business to reach sustainable success. Working *in*...
An Update on Employee Retention Credit Claims
Did you claim the ERC (Employee Retention Credit) and are you still waiting for it to be processed? The IRS suspended processing of ERC claims submitted after September 14, 2023, amid allegations of widespread fraud. There is good news for the businesses that were...
FTC Unsuccessful in Court Challenges of Non-Compete Agreements
The recent overturning of the Federal Trade Commission’s Non-Compete Clause Rule that would have rendered most non-compete clauses unenforceable has reignited debate over workers' rights and business protections. This decision, which preserves the ability of employers...