Why Should I Start a 401(k) Plan for My Company?

Most people are familiar with the tax advantages to the participant of a 401(k) plan. There are also many benefits to an employer for implementing a 401(k) plan. Many of these are financial. The first, and most obvious benefit to the employer, is the tax advantages which can offset so

New HRA Rules for 2017

Under the Affordable Care Act, it was determined that employers were no longer allowed to use a Medical Expense Reimbursement Plan (MERP) to provide health benefits to their staff. Prior to this law, many small employers used this type of plan as an alternative to offering staff healt

Tax Benefits of Hiring Your Children

Hiring your children may be an advantageous way to shift income to a lower tax bracket. However, certain rules must be followed to ensure the IRS allows these tax savings. The Benefits: Tax Rates Wages that are paid to children, as with any other wage, are tax deductible for the busin

Tips for Internal Control for Your Business

Does your company apply the right internal controls? Are you separating your controls by authority, custody and record keeping?   Below are four great, simple internal control practices you can use to minimize risk in a cost-effective manner. These practices will establish an env

Securing Your Financial Information

Are you worried about getting your identity stolen? Are you doing everything you can to make sure that your financial information is safe? As your accountant, BWTP P.C. takes every precaution to ensure the safety of your financial information. Even the most strict security procedures