As a company grows, it will experience many milestones, among which is its first 401k audit. As set by the United States Department of Labor (DOL), a 401k plan should be audited when it becomes a large plan. A large plan is considered to have at least 100 eligible participants on the first day of … Read More
Business owners need to know which small business records to keep and for how long. The IRS suggests keeping supporting documents that provide validation of your business. To understand what qualifies, think of your small business records in these categories. Documents that demonstrate income In … Read More
When it comes to audits, an independent nonprofit audit is different than an IRS audit. An independent auditor, who should be a Certified Public Accountant (CPA), completes an independent audit. These audits are an examination of your financial statements and accounting records. Once a nonprofit … Read More