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Month: July 2022

Is Your Company Effectively Managing Tax Risk?

By Nicole DeRosa, CPA, MAcc, Senior Tax Manager IS YOUR COMPANY EFFECTIVELY MANAGING TAX RISK? The concept of “tax risk” is an increasingly important and regular topic of discussion across organizations, and for good reason. Businesses that operate across state lines or internationally can in certain cases trigger tax liabilities in jurisdictions where they do not have a physical presence. In addition, many countries are adopting policies which require greater transparency in tax...

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Remittance Schedules: How to Know and Meet Your Deadlines

Part of offering a defined contribution plan, whether a 401(k) or a 403(b) plan, is making sure that the money participants contribute from their paycheck is deposited in their retirement account in a timely manner. While this might seem like a relatively minor and simple task in the scope of a plan sponsor’s fiduciary duties, the Department of Labor (DOL) views non-compliance with remittance rules as a major issue, and missing deadlines for deposits—even by a couple of days—can...

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Mandatory Capitalization of R&E Expenses – The Impact on Life Sciences Companies

Life sciences companies engage in considerable, and often exclusively in, research and development activity. Not surprisingly, these companies often face unique challenges relating to R&D — from make-or-build vs. buy decisions, contract research and contract development, and manufacturing arrangements — as they progress through the clinical stages to commercial operations. The R&D landscape for life sciences companies is further complicated by additional challenges brought...

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Staying Focused on Long-Term Goals: Tips from Wiss

The mid-year mark of 2022 is the perfect time to reflect on our New Year’s resolutions. It can be extremely challenging to stay on track with long-term goals when certain times of the year become busy and overwhelming. The dreariness of winter and the craziness of summer can throw off our goals for the new year.  Wiss team members have shared their thoughts on how to stay vigilant in facing challenges to stay on track to reach your goals! Here are three ways you can stay true to...

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What Banks Can Learn from Fintechs

By Matthew Barbieri, Partner Fintech companies continue to disrupt financial services as innovations help capture new opportunities. Financial institutions can learn from that disruption to adapt and remain competitive. Assessing the factors that make fintechs tough competitors — and sought- after M&A targets — helps highlight potential areas for advances in strategy, technology capabilities and new product/service offerings. By taking lessons from the success of fintechs, banks...

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Why Plan Sponsors Should Read Their Service Providers’ SOC Reports

Written by Cindy Sandomenico and Laura Zindel. WHY PLAN SPONSORS SHOULD READ THEIR SERVICE PROVIDERS’ SOC REPORTS When a plan sponsor hires a service provider, that organization and its professionals become part of the team operating the client’s retirement plan. Each member of the team is expected to perform a specific task according to what is prescribed in the plan document. But how do you know whether each service provider has effective systems and controls in place to ensure...

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