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Sponsoring a Health & Welfare Benefit Plan: Are You 5500 Compliant?

7/8/2021

Health & Welfare Plans provide benefits such as medical, dental, and life insurance. In 2002, the Form 5500 filing requirement was amended by the IRS, but many initially believed that the requirement had been fully suspended. However, the requirement was only lifted for some employers; but, for others (those not meeting the exemptions), the requirement remained in place and continues to be an annual requirement.

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Covid-19 Implications For Presumptive Laws And Workers' Compensation

6/22/2021

Most state workers’ compensation (WC) laws clearly state that a disease to which the general population is exposed is exempt from WC. On the surface, this exemption appears to limit the impact of COVID-19 on WC coverage. Many states, however, have “presumption laws” pertaining to occupational disease and employment.

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IRS Extends Certain Tax Filing and Payment Deadlines to May 17

4/1/2021

The Internal Revenue Service confirmed in an announcement on March 29, 2021, that individuals have until May 17, 2021 to meet certain deadlines that would normally fall on April 15. 

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New IRS Guidance Regarding Tax Due Date Change 2021

3/18/2021

On Wednesday, March 17th, the U.S. Treasury Department and Internal Revenue Service extended the due date of individual Federal income tax returns and the deadline to make contributions to IRAs and HSAs from April 15, 2021 to May 17th, 2021.

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The Virtual Career Fair Playbook

9/22/2020

Career fairs! While it might feel like the world has stopped, recruiters are still working hard to pursue talent in this newly saturated job market. Whether you are entering the job market fresh out of school or are job hunting for the first time in a while, virtual recruiting is uncharted territory for all of us; try out these tips at your next virtual career fair to push yourself over the top and land that dream job!

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Benefits of Community Involvement for Young Professionals

9/9/2020

The benefits of community involvement are far-reaching – and not reserved for seasoned professionals deep into their careers. Navigating the world post-graduation may be daunting for young professionals but getting involved with community organizations can bring joy while preparing you for the workforce.

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WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part IV

6/30/2020

Our webinar provides practical real-world scenarios and focuses on key considerations for PPP loan forgiveness, including the latest guidance on new forgiveness applications, and 8-week vs. 24-week decisions and pitfalls. Access webinar materials here.

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PPP Loan Forgiveness Assistance

6/11/2020

If your business has received a Paycheck Protection Program (PPP) loan from the Small Business Administration (SBA), you may be concerned about meeting the loan forgiveness requirements. Our team can assist with reviewing forgiveness applications that present questions or need additional analysis and are here to address your questions regarding overall forgiveness.

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WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part III

6/10/2020

Our presentation held on Wednesday, June 10th discussed the Paycheck Protection Program Flexibility Act (PPPFA), properly documenting expenses and answering frequently asked questions so you can maximize your PPP loan forgiveness. Access webinar materials here.

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WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part II

5/28/2020

Our presentation held on Thursday, May 28th reviewed the latest guidance on properly documenting expenses for PPP loan forgiveness and the interim Final Rule. Access webinar materials here.

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WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part I

5/14/2020

In response to the impacts of COVID-19, many businesses have received funding through the Paycheck Protection Program (PPP) under the recently passed CARES Act and we have held a webinar on key considerations for PPP loan forgiveness. Access webinar materials here.

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COVID-19 is Accelerating the Rise of the Digital Economy

5/8/2020

Digital transformation is necessary during this crisis, but that doesn’t mean it will look the same as it did before the pandemic. New problems and opportunities have come to light with greater urgency. For some businesses, the forces of disruption may be so great that the long-term strategic vision will need to be overhauled. 

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WEBINAR MATERIALS: How COVID-19 is Impacting Retirement Planning

5/7/2020

The Coronavirus Aid, Relief, and Economic Stimulus Act, or “CARES Act” brought important changes to retirement plans that every investor should be aware of. Learn about these changes, how they are impacting retirement planning, and what actions you should take to have an investment plan you can stick with to achieve peace of mind. Access webinar materials here.

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Exhausted Your Cares Act Paycheck Protection Program Options? Main Street Lending Can Provide Additional Liquidity

5/3/2020

The Main Street Lending Program, whereby the Treasury will carve out $75 billion of the available $454 billion under Title IV to make an equity investment in a special purpose vehicle (SPV), which will enable the flow of credit to small and medium-sized businesses that were in good financial standing prior to COVID-19. 

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WEBINAR MATERIALS: Staying Connected & Empowering Your Team Using Collaboration Tools

4/30/2020

When it comes to working remotely, using virtual tools, and leveraging technology, what can business owners and managers do today that will help ensure they emerge successfully from the COVID-19 pandemic? Access webinar materials here.

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WEBINAR MATERIALS: Strategies to Propel Your Business Beyond the Pandemic

4/21/2020

As businesses begin to think beyond the current COVID-19 crisis and, in many cases, emerge from several weeks of unprecedented disruption, what can business owners and managers do today to help ensure they emerge successfully? Access webinar materials here.

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A Return to Work in the New NormalHow companies should plan to return to work and emerge from COVID-19 stronger and smarter.

4/21/2020

As the response to the COVID-19 pandemic progresses, many companies have established operational crisis management teams and adjusted to global restrictions on work and movement. Executives are now beginning to ask the question: How are we going to return to work?

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COVID-19 Payroll Tax Relief - Credits & Deferral

4/21/2020

Two COVID-19 aid packages recently became law that deliver federal assistance to employers by providing them credits against their payroll taxes. Taken together, these provisions provide significant relief for employers that continue paying wages to employees.

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Documentation & Accounting for PPP Loan Forgiveness

4/21/2020

As many of our clients have already started receiving their Payroll Protection Program (PPP) loan proceeds, the Saltmarsh COVID Recovery Response Team is recommending guidelines for how these loans should be handled, both from the operations and accounting (recording on the books) standpoints.

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Federal Reserve Announces Main Street Business Lending Program as Part of Additional Actions to Provide Economic Aid

4/20/2020

On April 9, the Federal Reserve announced additional actions it will take to provide up to $2.3 trillion in loans to support the U.S. economy. The Federal Reserve believes this funding will assist households and employers of all sizes and bolster the ability of state and local governments to deliver critical services during the coronavirus pandemic.

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The Cares Act & Flexible Benefits

4/13/2020

The Cares Act extended the list of eligible expenses for Health Saving Account (HSA), Health Reimbursement Arrangement (HRA), and Flexible Spending Account (FSA). Additionally, there have been updates to flexible benefit programs.

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CARES Act Relaxes Qualified Plan and Employee Benefit Rules to Improve Cash Flow for Employer and Employees

4/6/2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (H.R. 748) includes several relief provisions for tax-qualified retirement plans, expands health care flexible spending accounts so funds can be used for over-the-counter items, clarifies some health insurance plan questions, and, through year-end, allows employers to reimburse employees for student loan payments tax-free. 

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Individuals: What You Need to Know About the CARES Act

4/6/2020

On March 6, 2020, the Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020 was enacted, becoming the first of three Congressional relief and stimulus acts passed. This alert briefly summarizes the following relief provisions enacted in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted on March 27, 2020.

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CARES Act Aids Employers Who Continue to Pay Employees

4/6/2020

Section 2301 provides a refundable payroll tax credit for certain wages paid to employees. Section 2302 allows employers to defer the deposit of certain employment taxes for as much as two years. Taken together, these provisions provide significant relief for employers and are designed to encourage employers to continue paying wages to employees during these unprecedented times.

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COVID-19's Impact on U.S. Retirement Plans

4/2/2020

While decisions about safety and business operations are obviously top priorities now, plan sponsors still must maintain compliance for their retirement plans. We are here to help you navigate these decisions. We address three of the most immediate questions that companies should be considering related to their retirement plans.

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