THE SETTING EVERY COMMUNITY UP FOR RETIREMENT ENHANCEMENT ACT OF 2019 (THE SECURE ACT) TITLE I: Expanding and Preserving Retirement Savings Section 101. Expand Retirement Savings by Increasing the Auto Enrollment Safe Harbor Cap The legislation increases the cap from 10 to 15 percent of employee pay that required automatic escalation of employee deferrals go…

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Does your business need to add one or more vehicles? If so, the purchases may qualify for tax breaks under current tax law. Here are the details. First-Year Depreciation Breaks The Tax Cuts and Jobs Act (TCJA) allows unlimited 100% first-year bonus depreciation for qualifying new and used assets (including eligible vehicles) that are acquired…

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The FASB has issued ASU 2019-10, which amends the effective dates for three major accounting standards.  The ASU defers the effective dates for the credit losses, derivatives and leases standards for certain companies. Please find the accounting update regarding leases for nonpublic entity. Amendments to Subtopic 842-10 Amend paragraphs 842-10-65-1 and 842-10-65-4 and their related…

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