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It’s Time! Tax Deadlines Looming!

2019 Tax Return Due Dates for Business Types Sole proprietorship and single-member LLC tax returns on Schedule C (with the owner's personal tax return): April 15, 2020. Partnership returns file a partnership tax return on Form 1065 with Schedule K-1 for each partner: March 16, 2020. Multiple-member LLC returns filing as partnerships file on Form 1065 for the partnership and give Schedule K-1 to each member: March 15, 2020. S corporation returns must be filed on Form 1120 S with Schedule K-1 for each member: March 15, 2020. For corporations (not S corporations) with a fiscal year endings other than...

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SAMPLE Pandemic Flu Leave Policy

In the event of a pandemic flu outbreak, as declared by management, in conjunction with the U.S. Centers for Disease Control and Prevention (CDC), the following Pandemic Flu Leave policy applies to all employees, including temporary and non-benefit eligible. This leave policy is above and beyond what is provided under the company’s Paid Time Off (PTO) and sick leave policies. Employees who qualify for Pandemic Flu Leave will not be required to use PTO or sick leave. Confirmed Infection Employees who are absent due to a confirmed pandemic flu infection will receive full pay for their normally scheduled work hours until a medical...

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HR Insights: Coronaviruses and the Workplace

Coronaviruses are fairly common and don’t typically affect humans. When they do, their effects are usually mild, as in the case of the common cold. However, deadlier variations of these coronaviruses have cropped up in recent years. Two examples of these evolved strains are the SARS virus of 2003 and the novel coronavirus, which was first seen in 2019. In both instances, the viruses ravaged the populations they infected, illustrating why employers must stay alert to developing outbreaks. It’s the responsibility of every employer to protect employees from these and other illnesses in the workplace. Taking even small precautions could save an...

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Interim Guidance for Businesses and Employers to Plan and Respond to Coronavirus Disease 2019 (COVID-19)

The following interim guidance may help prevent workplace exposures to acute respiratory illnesses, including COVID-19, in non-healthcare settings. The guidance also provides planning considerations if there are more widespread, community outbreaks of COVID-19. To prevent stigma and discrimination in the workplace, use only the guidance described below to determine risk of COVID-19. Do not make determinations of risk based on race or country of origin, and be sure to maintain confidentiality of people with confirmed COVID-19. There is much more to learn about the transmissibility, severity, and other features of COVID-19 and investigations are ongoing. Updates are available on CDC’s web...

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Coronavirus Update – Part II

Yesterday the Dow fell 1,190 points—the largest point decline in history. It sounds apocalyptic, but it was only the 125th worst percentage decline. It matters how we measure these things. Yet all we hear are stories about points. Take from that what you will. In all, the S&P 500 lost 11.45% this week, a swift decline from last week’s all-time highs. No matter how often we have corrections or bear markets, or how periodic or “normal” they are, we’ll never get used to them because we abhor losses. Even temporary ones drive us crazy. Blame the limbic system and the amygdala...

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Coronavirus Update – Market Impact Report from Ashley Vice, Portfolio Manager

The outbreak of the coronavirus has damaged investor confidence, resulting in back-to-back declines of 3% in the S&P 500 on Monday and Tuesday. It’s unsettling, but not uncommon; we’ve now had 80 such daily declines of 3% or more since 1990. Putting aside today’s performance, U.S. markets fell 7.6% from last week’s record high; notable, but well below the average intra-year decline of -14%.[i] Every sell-off is unique, but the formula is familiar; overconfidence collides with a catalyst, causing investors to realize that perhaps they’re out over their skis. Changes in confidence are hugely important but nearly impossible to predict. Confidence isn’t...

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Hacked! Is Your Retirement Plan at Risk for a Cyber Attack

Cyber-crime is on the rise worldwide. As a result, growing numbers of organizations are taking critical steps to protect their valuable electronic data from hackers and other cyber criminals — a process known as cybersecurity. It’s serious business, and a trend retirement plan sponsors and committees should pay attention to. In 2015, IBM’s chair, president and CEO Ginni Rometty said, “Cyber-crime is the greatest threat to every company in the world.” Last year, billionaire investor and businessman Warren Buffett echoed that sentiment, claiming that “cyber-attacks are a bigger threat to humanity than nuclear weapons.” In short, cyber-crime is extremely dangerous, and...

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A Guide for Employers Dealing with Missing Participants

Locating missing plan participants can be a headache for any employer, but simply ignoring them is not an effective solution. Regulatory agencies in previous years have published guidance on this topic relating to missing “retired” employees. With the increase in the number of “pre-retired” missing plan participants, governmental bodies are now taking additional measures to provide solid guidance and solutions to help streamline this arduous process for plan sponsors. Plan sponsors must understand why locating missing plan participants is important.  First, ERISA requires that plan fiduciaries (e.g., plan sponsors, employers) have a duty of prudence and loyalty to all plan participants...

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The ABC’s of HR

This comprehensive glossary of human resource (HR) terms defines words and phrases frequently used by HR professionals. - A - Ability: A competence to perform an observable behavior or a behavior that results in an observable product. Action item: Specific activity initiated to achieve an objective. Adaptive device: Any tool that facilitates greater efficiency by an individual with a disability in the performance of duties. Adverse impact: Adverse impact exists where a substantially different rate of selection in hiring, promotions, or other employment decisions works to the disadvantage of members of a protected group. An inference of adverse impact may occur in the absence of...

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