Nonprofit Blog

In order to avoid costly penalties and administratively burdensome correction procedures, plan sponsors must remain up-to-date with respect to applicable Health and Welfare plan limits. On October 26, 2016, the IRS announced cost-of-living adjustments affecting 2017 dollar limitations for Health and Welfare plans and other related Health and Welfare Benefits items. Some of the most commonly used business benefits are below, and the entire IRS publication can be found by clicking here. While some limits remain the same, there have been a number of adjustments.

The new Bipartisan Budget Act of 2015 was bill signed by President Obama on November 2, 2015, which reflects changes to Social Security and Medicare laws. Here are the changes you need to know:

Federal contracts can be a good way to expand the profitability reach of a construction company. But these jobs have their own complex rules, including paying prevailing wages pursuant to the Davis-Bacon Act. Many contractors face one particular dilemma when sorting through the prevailing wage requirement: Should they pay all applicable wages in cash or remit some of them as benefits?