Why to Have an Accounting Manual

An important tool for maintaining internal controls and a strong finance department is to have an accounting policies and procedures manual. While it takes some time to write up, it will help you maintain consistent practices and stay compliant will relevant laws and...

Retirement Plan Options – Solo 401(K)

If you’re self-employed and have no employees other than yourself and your spouse, you’re eligible to set up a one-participant 401(K), which is sometimes called a Solo 401(K), Solo-K, Uni-K, or One-Participant K. This is subject to the same rules as a regular 401(K)...

Retirement Plan Options – SIMPLE IRA

A retirement plan option available to small employers is a SIMPLE IRA. To qualify for this, you need to have had 100 or fewer employees who received at least $5,000 in compensation during the previous calendar year. When calculating the 100-employee limit, you need to...

Retirement Plan Options – 403(b)

A 403(b) plan has some similarities to a 401(k), but is distinct enough to merit separate discussion. Unlike other retirement plans, only certain types of organizations are able to set up a 403(b). Generally, this plan option can be used by: Public schools 501(c)(3)...