Ohio’s TechCred program Opens in October to Fund Training
The state of Ohio recently launched its new $30 Million “TechCred” Program, desiring to strengthen Ohio’s skilled workforce by reimbursing employers who help current or new employees earn industry-recognized, technology-focused credentials. Ohio will reimburse up to $2,000 per credential (capped at $30,000 per funding round) to those businesses whose
Why Captive Insurance Companies Are Being Scrutinized by the IRS
Captive insurance companies have become a popular risk management tool due to the ability to insure specific or otherwise uninsurable risks while also creating the potential for substantial tax savings. In a typical arrangement, a business establishes a licensed insurance company (the “captive”) which can be owned by the same
Don’t Forget to File Your Foreign Bank Account Report this Month!
U.S. citizens, residents, and entities who have either a financial interest in and/or signature authority over a foreign financial account may be required to file a report annually with the Department of Treasury. The Report of Foreign Bank and Financial Accounts (officially FinCEN Form 114, but more commonly referred to
Form 5500 Filers – IRS Recommends Not Answering New Questions
In 2015, the IRS added new series of compliance questions to the Form 5500/5500-SF annual retirement plan returns, however they are now recommending that plan sponsors skip these questions due to not being approved by the Office of Management and Budget. Specifically, the following questions are recommended to be skipped
Manufacturing Growth Slows as Labor Supply Contracts
Despite a slowdown from the month of August, the Institute for Supply Management’s September 2014 Manufacturing Report on Business shows that the US economy expanded in September for the 64th consecutive month, and the manufacturing sector posted its 16th consecutive month of growth. Of the 18 manufacturing industries,
Manufacturing Sector Expands for 13th Consecutive Month
Economic reports for June 2014 have reported a 61st consecutive month of growth. In particular the manufacturing sector reported expansion for its 13th straight month according to supply executives in the most recent manufacturing business report from the Institute for Supply Management (ISM). The June purchasing managers index