Monthly Archives: December 2016

Achieving Better Participation in Company 401k Programs

Many companies struggle to get employees to participate and to participate at adequate levels in their own 401k retirement savings. A recent article by Lou Carlozo in the CPA Insider quoted Keith Baker of North Lake College in Dallas, “Here’s a scary fact: The average person at age 65 and up has only $41,800 on average in a 401k or Thrift Savings Plan.”  The article also referred to the Bureau of Labor Statistics which indicated that in the private industry subset, the participation number in retirement plans was 49%.…

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Posted in Business Best Practices, CFO Services

IRS Lowers Mileage Rate to 53.5 Cents for 2017

Today the IRS adjusted the standard mileage rate deduction for 2017 to 53.5 cents from 2016’s 54 cents. Lower fuel prices were the principal driver behind the adjustment.

The mileage rate for medical and moving also dropped to 17 cents from 19 cents in 2016, while the rate to deduct for mileage on behalf of a charitable organization is 14 cents in 2017.…

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Posted in Business Best Practices, Other
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