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From the Headlines to your Bottom Line

401(k) Plan Contributions: Keep Calm but Know Your Options

Global markets have fallen dramatically in the wake of the coronavirus (COVID-19) pandemic. Some analysts are predicting a recession. And many business owners are looking for ways to lower costs in the face of decreasing revenue. Can you eliminate or scale back on 401(k) plan contributions during these turbulent and unprecedented conditions? Here's what employers should know.
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COVID-19 Relief: Overview of the New CARES Act

President Trump has signed legislation to infuse the U.S. economy with roughly $2 trillion in financial relief during the coronavirus (COVID-19) pandemic. This is welcome news for people and businesses that have suffered losses in recent weeks. Here are highlights of financial relief provisions of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
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Federal Tax Relief to Alleviate COVID-19 Hardships

Federal relief has been announced to ease the adverse financial effects of the coronavirus (COVID-19) pandemic. Over the last week, two major relief measures with tax implications were finalized: 1) guidance to extend the April 15 federal income tax deadlines, and 2) a new law that mandates paid leave benefits for small business employees affected by the outbreak and creates related tax credits as well as FICA tax relief for their employers. Here are the details.
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How We Add Up

"Our clients rely on Fust Charles Chambers to provide innovative thinking by anticipating changes in tax laws, accounting methods and industry and economic trends. At other times, our clients depend on us to act as a sounding board for their ideas and concerns. We’re proud to be part of our clients’ team with the purpose of assisting them in attaining their goals and objectives."

- Joseph L. Charles, Partner