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The Families First Coronavirus Response Act was signed into law by President Trump.  Under the new law affected employers (employers with less than 500 employees) will be subject to an expansion of the Family and Medical Leave Act of 1993 (FMLA) and emergency paid sick leave requirements.  The new law will go into effect 15…

Dear friends, Together we are facing an unprecedented situation.  The global coronavirus pandemic is affecting our families, our businesses, our communities, and our way of life.  During this time, we wanted to update you on how we’re approaching the situation at Teuscher Walpole.  The health and safety of our staff and the community is our…

Now that the bill to repeal and replace the Affordable Care Act (ACA) has been withdrawn and it’s uncertain whether there will be any other health care reform legislation this year, it’s a good time to review some of the tax-related ACA provisions affecting businesses: Small employer tax credit. Qualifying small employers can claim a…

Reimbursing employees for education expenses can both strengthen the capabilities of your staff and help you retain them. In addition, you and your employees may be able to save valuable tax dollars. But you have to follow IRS rules. Here are a couple of options for maximizing tax savings. A fringe benefitQualifying reimbursements and direct…

Successful business people have a solid understanding of the three financial statements prepared under U.S. Generally Accepted Accounting Principles (GAAP). A complete set of financial statements helps stakeholders — including managers, investors and lenders — evaluate a company’s financial condition and results. Here’s an overview of each report. 1. Income statement The income statement (also…